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Opposition Member of Parliament Png Eng Huat on Thursday (May 29) suggested changes to the CPF system to help Singaporeans cope better with retirement. Speaking in Parliament, Mr Png proposed that it was time for the Government to review the formula used to determine interest rates for the Special, Medisave and Retirement Accounts (SMRA). He also called for a third CPF Life plan so that Singaporeans can get a monthly payout starting from the age of 60.
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