Based on the basic retirement sum of $96,000 in 2022, the 3.5% per year increase will mean that the sum will be $99,400 in 2023, $102,900 in 2024, $106,500 in 2025, $110,200 in 2026 and $114,100 in 2027.
The Central Provident Fund (CPF) basic retirement sum will be raised by 3.5% per year for the next five cohorts of CPF members.
This means the increase will affect those turning 55 from 2023 to 2027.
