How foodpanda delivery partners can use CPF effectively for their goals
This is the second session in Endowus’ financial literacy series conducted in collaboration with foodpanda Singapore to provide delivery partners with financial education resources, under its Endowus Empower programme. Delivery partners want to improve their knowledge to better manage their personal finances, as revealed in a survey Endowus conducted with over 300 foodpanda delivery partners. This initiative seeks to boost financial literacy of platform workers, given their unique financial circumstances.
Watch the recording of our finlit webinar held via Zoom, as Sheng Shi, Personal Finance Lead at Endowus, elaborates on the pros and cons of various Central Provident Fund (CPF) schemes that riders are eligible for and how they can utilise CPF savings to achieve their financial goals.
Chapters
00:00 Introduction
01:43 Recap of financial planning basics
04:43 What is CPF?
06:57 CPF must-knows for property purchases
12:00 Understanding CPF accrued interest
17:00 What can you pay for with CPF Medisave?
22:00 Calculating your compulsory Medisave contributions
22:50 Additional interest on your first $60K
25:37 What happens to your CPF savings when you turn 55?
28:07 What is CPF LIFE?
32:16 Types of CPF cash top-ups
34:09 What is the Matching Retirement Sum Scheme (MRSS)?
35:13 How to use CPF for education and investment purposes
38:08 What are your choices and obligations for CPF contributions?
41:09 Pros and Cons of CPF Voluntary Contributions
43:16 About Endowus
45:00 Q&A
49:50 Learn more on Endowus Investing 101
Our MAS Licensed Financial Advisors are always here to help:
► Contact support: https://sg.endow.us/3CLtvhl
► Join a step-by-step session on using the Endowus platform: https://sg.endow.us/3DdAHEH
► Schedule an advisory call: https://sg.endow.us/3Sgddmu
► Check out our Endowus Empower initiative: endowus.com/empower
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