This is also supported by findings from the CPF Board's annual report released last month, which showed that CPF members' balances hit a new high as at the end of last year, exceeding half a trillion dollars.
"CPF is a major pillar of many Singaporeans' retirement planning and contributing to their CPF accounts will enable them to receive payouts for retirement income.""So extending this direct payment solution to them from our digital banking platforms will enhance their financial planning by making the process of voluntary CPF contributions more seamless," he said.
"This will enable customers to better track their retirement goals and hopefully be able to achieve the retirement lifestyle they desire," Mr Quek said.
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