Deputy Prime Minister and Minister of Finance, Huang Xuncai, said that the special account of closing the 55 -year -old provident fund member is in line with the purpose and purpose of the provident fund system.
In his interview show "ASK The Finance Minister" on Wednesday (February 21) on Wednesday (February 21), the public responded to the people's attention to this policy change.
Two accounts are simplified into one for long -term retirement demand
Huang Xuncai explained that there is an ordinary account in the provident fund. The deposit in the ordinary account can be proposed to buy a house, so what you earn is short -term interest rates.However, there is also a special account for long -term savings, so the interest rate is higher.
This is the principle of the provident fund system.People will have one retirement account at the age of 55.Therefore, rather than a special account and retirement account at the same time, the official is simplified into a account, that is, retirement accounts for long -term retirement demand.
Huang Xuncai said: "People with excess deposits in a special account can transfer the deposit to the retirement account until the revised ENHANCED RETIREMENT SUM can still get the same interest rate as the special account. Most of the vast majoritySingaporeans can do so. If they do this, their retirement accounts will have more deposits.
The Central Provident Fund Bureau said earlier that after four times the excess deposit will be adjusted to four times that the Basic RETIREMENT SUM will be higher.The deposit is transferred to the retirement account.
The guests who talked to Huang Xuncai in the program were Abdul Samad, vice president of the National Workers' Association, Zheng Baolian, a professor of sociology at Singapore Management University, and hawkers selling fish.
How can the couple who have a two -year -old daughter ask, in addition to reducing pre -school education fees, how can the government solve the problem of insufficient places for pre -school education centers in town and town?Huang Xuncai said that the government is accelerating the care of more preschool education teachers and infants, and will also build more large -scale preschool education centers.
Maintaining fiscal discipline and balance of payments can only sustain for a long time
Zheng Baolian asked, the "gift" and economic assistance announced in the 2024 fiscal budget, whether it is sustainable for a long time.In this regard, Huang Xuncai proposed three points:
1. To ensure that any support measures are financially sustainable. The best way is to maintain the existing fiscal discipline and responsibility and maintain a budget of balanced revenue and expenditure. This is also what the government has been working hard;
2. When designing a government design plan, make sure that there will be no unintentional consequences, as seen in many other places.Huang Xuncai said: "We don't want to weaken this spirit of self -reliance and paying personal efforts";
Third, the government further encourages charity culture in this year's budget, and strives to match high net worth individuals and kind people, and match with demanders in the community.
