cpf retirement monthly income counted to cr card

Subscriber exclusiveHow to tap credit card perks and spend safely in retirement without falling into a debt trapChor Khieng YuitFollow topic:Credit/Debit cardsSummaryRetirees aged 65 and above in Singapore can use their CPF LIFE payouts or other income sources to qualify for unsecured credit cards if they meet the $15,000 annual income threshold.Credit cards offer retirees convenience, cash rebates, and the ability to manage payments like insurance premiums, but require careful spending to avoid debt traps.Experts advise retirees to hold no more than two credit cards and to pay their balances in full and on time to avoid high interest charges and financial risks.AI generatedPublished Sep 27, 2026, 5:00 AMUpdated Sep 27, 2026, 8:20 AMListenSign up for ST InvestMe and unlock full access to exclusive insights and financial literacy courses today.SINGAPORE – Credit cards offer convenience, discounts and short-term flexibility, but some retirees may worry about scams, overspending and managing repayments on a reduced income.Retirees in Singapore can benefit from using credit cards if they do so responsibly, said two financial experts who spoke at a Straits Times InvestMe panel discussion on Sept 17.For one thing, retirees would not have to carry large amounts of cash or worry about misplacing or losing their money, said Tan Huey Min, general manager of Credit Counselling Singapore (CCS).She added that credit cards also give cash rebates and discounts, allowing retirees to stretch their dollar.Fellow panellist Leon Loh, a financial services consultant from GEN Financial Advisory, concurred.“There are perks to using a credit card to get credit card points, which you can exchange for products or services, and it’s gotten me quite far,” he shared. Top storiesExplore top stories from all sections in one placeSingaporeAsiaSingaporeAsiaWhat’s the latest haze situation in Singapore?Indonesia’s disaster chief’s brother among five arrested over alleged graft amid haze crisis500+ reports in 2 months: How Singapore’s new Online Safety Commission is tackling online harmsSlain Hong Kong socialite Abby Choi called ‘birthing machine’ by ex-father-in-law, court hearsLoh also highlighted the cash-flow benefits. For instance, if a retiree is temporarily tight on cash but needs to pay insurance premiums, they can use their card first and pay off the balance immediately once their income comes in.See more onCredit/Debit cardsRetirementFinancial literacyInvestST InvestMe

money exp for overseas trip

Subscriber exclusiveHow to get friends to share expenses during group holidaysRyley OberFollow topic:InvestPublished Oct 9, 2026, 5:00 AMUpdated Oct 9, 2026, 5:33 PMListenA huge argument unfolded, she said. One friend was under the impression that he was owed well over US$200 (S$256), but with no receipts and differing recollections, he went unpaid.In a 2026 survey of some 2,000 people by fintech company PayPal, 46% said money disagreements created tension or “ruined the vibe” on a trip.Another survey from Zelle, the payments platform, found that consumers often are not fully repaid for group expenses.Why friends avoid the ‘money talk’The most common mistake? Not having a candid conversation about spending limits and repayment plans before friends start filling out their itinerary.Top storiesExplore top stories from all sections in one placeSingaporeAsiaSingaporeAsiaWhat’s the latest haze situation in Singapore?Indonesia’s disaster chief’s brother among five arrested over alleged graft amid haze crisis500+ reports in 2 months: How Singapore’s new Online Safety Commission is tackling online harmsSlain Hong Kong socialite Abby Choi called ‘birthing machine’ by ex-father-in-law, court hearsDanielle Bayard Jackson, a friendship coach and the author of Fighting For Our Friendships, said clients have frequently booked sessions with her specifically about navigating the “complexities of the group trip”.Close friends often skip the detailed planning process, Jackson said, because of what she called a “relationship-killing myth”: Friends think they should not have to explain what they find fun, because they fear that would be evidence that they are not as close as they thought.That fear of misperception intensifies when it comes to money. Friends who make more or less than fellow travellers do not want to be viewed differently because of it, Jackson said. That can introduce friction into a friend group.Experts suggest finding consensus about total costs, who is willing to pay what and the repayment process.If you are on a strict budget, it might help to tell fellow travellers about the other financial goals or responsibilities you have.Understanding your travel partnersOn a trip to Japan with three friends, Malvina Abbott described a balancing act between one friend with a limited budget and a wealthier friend who required five-star hotels with precise square footage.It took two months to compromise on the hotel, and they did not have a clear plan for how to handle uneven spending habits before the nine-day trip started, said Abbott, an 83-year-old retired public defender from San Diego.The wealthier friend ended up spending a lot of time on her own.“Our failure to talk about money issues made for some uncomfortable situations,” Abbott said.When planning a group trip, Jackson said she thinks about advice in The Art Of Gathering by Priya Parker: Start by asking, what’s the point?“That helps inform where you should go, how much you should spend and, most importantly, who should come,” Jackson said.Once the invite list is set, it can be helpful to suss out each person’s spending habits during planning.For example, Jackson said she has a friend who enjoys footing a group bill at a restaurant and gets genuinely insulted when others try to pay their portion.More on this topicFinancial freedom is being able to pay for all expenses, not how much you have 3 steps to find out how much you have been spending on your family every monthIf you know that someone is not as reliable at repaying what others fronted, ask yourself if you are willing to potentially lose that money, said Traci Williams, a clinical psychologist and certified financial therapist.For some people, the loss is worth it for their friend to join the trip.Frugal travellers should set a financial limit for when to opt out, experts said. If the total that others are willing to spend on the trip is going to ruin the experience for you, do not go.If someone doesn’t payThe trip has ended. Perhaps you have even sent a gentle reminder, yet some people still have not paid up. How do you confront them without triggering a fight?Williams recommends starting with something positive so that the friends are less likely to feel defensive. That can be as simple as saying: “I really enjoyed our time together.”From there, let them know why it is important for you to be repaid. That could be a bill that is due or upcoming plans you need to save for. Rather than a slap on the wrist, this gives laggards an opportunity to help you out, Williams said.Resist the temptation to just let it go, Jackson warned. While that might seem like the easiest option, it could cause resentment.See more onInvestTravel planningTravel tipsCredit/Debit cardsFinancial literacy

deal with it straight away

Subscriber exclusiveNot one big spree: Why more people in their 30s, 40s are seeking help for credit card debt in S’poreChor Khieng YuitFollow topic:Credit/Debit cardsSummaryPeople in their 30s and 40s made up the biggest groups seeking help for unsecured debt, driven mainly by lifestyle spending and income shocks.Credit Counselling Singapore said cases rose to a three-year high of 814 in Q2 2026, while MAS data showed rollover balances climbed to $9.64 billion.Risks are still seen as manageable because delinquency and charge-off rates are low, but stress pockets remain.AI generatedPublished 4 hours agoUpdated 2 hours agoListenIvan Tan, a director of financial institutions ratings at S&P Global Ratings, noted that the risks appear manageable for now because the credit card charge-off rates have largely remained flat at 5.9% in the first half of 2026. The charge-off rate refers to the bad credit card debts that the banks write off as uncollectible, divided by the average rollover balance.  Tan added that Singapore has strong regulatory guard-rails, including credit limits calibrated to a borrower’s monthly income.For credit cards and unsecured personal loans, the system enforces individual bank caps and a broader, industry-wide credit limit.A bank can grant a credit limit of up to four times an individual’s monthly income for those earning between $30,000 and $120,000 a year. There is also a limit across all banks, which is capped strictly at 12 times an individual’s monthly income.For example, an individual earning $30,000 a year has a monthly income of $2,500. Their maximum credit limit would be $10,000 with a single bank and capped at $30,000 with all banks. If outstanding balances breach this 12 times monthly income ceiling for three straight months, banks are legally required to freeze all further credit transactions. More on this topicS’pore firms, households have sufficient buffers to weather financial shocks: MAS reviewTrack expenses down to the cent – or keep it simple? Find something that works for youPockets of vulnerabilityWhile there are “no clear indications of broad credit stress among resident households”, Fitch Ratings’ Tanoto noted that there could be “pockets of vulnerability” as economic pressures and cost of living mount.In that same Financial Stability Review, MAS’ stress test revealed that around 1% of borrowers could face negative cash flows when there is a sharp global AI-related downturn. Under that scenario, household income drops by around 10% and unemployment rises. The vulnerable borrowers have saving buffers of less than six months of the resulting income shortfall.  They are mostly middle-aged HDB residents with relatively lower incomes. Some of them are also middle-income borrowers with sizeable outstanding private housing loans, MAS noted in the report.For borrowers feeling the financial strain now, Li has this advice: “Deal with the debt problem early.”He added: “Don’t wait until the repayments become impossible. Sit down, calculate everything you owe, stop taking on new debt and seek help if you need it.“There is no shame in asking for help. For me, admitting that I couldn’t solve it on my own was actually the first step towards getting my finances under control.”Chor Khieng Yuit is senior correspondent at The Straits Times. She believes in financial education for the masses, particularly the low-income, the elderly and people with special needs.See more onCredit/Debit cardsLoansFinancial literacyFinancial counselling

sch of medicine at age 28

HeadstartLatestMoney MentorWork BestieLife GuideAbout HeadstartOne man’s journey to medicine: He pivoted from architecture to nursing to medicineJane NgFollow topic:ST HeadstartSummaryUzer Danial Sukari switched from architecture to nursing after a National Service deployment showed him he enjoyed helping people and healthcare work.His nursing path was delayed by the pandemic, but he worked at the Institute of Mental Health, then excelled at Nanyang Polytechnic with a 3.90 GPA and top student awards.He later entered medicine at NUS and hopes to use his nursing background to become a more patient-centred doctor.AI generatedPublished 5 hours agoUpdated 4 hours agoListenPursuing a medical degree seemed improbable then.“I never thought I could study medicine,” says Danial. However, his interest was ignited while pursuing his nursing diploma, when he discovered a passion for subjects like anatomy, physiology and pathophysiology.“I often found myself reading beyond the syllabus to understand more,” he says, recalling how he spent hours exploring medical journals, textbooks and online resources.Uzer Danial Sukari’s interest in healthcare deepened after he became a nurse. ST PHOTO: JASON QUAHUpon graduation, he began his career as a staff nurse at the neurosurgery ward in Singapore General Hospital.Working alongside doctors on complex cases deepened his curiosity about diagnostic and therapeutic medicine. “It made me realise I wanted to contribute to patient care in a different capacity,” says Danial, who decided to apply to the National University of Singapore’s Yong Loo Lin School of Medicine in 2025 at age 28.Balancing full-time work and the gruelling application process was not easy. For instance, Danial had to attend his admissions interview after finishing a tiring overnight shift.To make matters worse, a computer crash during his situational judgment test wiped out his responses, forcing him to retake the assessment that afternoon.“I had already accepted the possibility of rejection and was fully prepared to continue my career as a nurse,” says Danial, who is now in his second year of medical school. “I was not prepared for actually getting accepted. Even to this day, it still feels a little surreal.”The day he received the university’s offer in 2025, he received a promotion at work, making his decision to leave his job bittersweet.“I had grown to enjoy nursing and my work. I remember hesitating to tell my supervisors that I was resigning so soon after receiving the promotion,” he remembers.Although he anticipated a demanding workload, the sheer volume of material during his first year of medical school proved to be a steep learning curve. He managed the transition through daily revision.He credits his nursing background as a solid foundation that helps him connect core medical concepts with real-world clinical experience. “Conditions I encountered as a nurse now make much more sense as I learn the underlying mechanisms and pathophysiology,” he says.At 29, Danial is years older than his peers, but he views his non-traditional path as an asset.He hopes to keep the patient-centred approach he developed through nursing.“I want to be a doctor who not only understands the medical condition, but also considers the patient’s circumstances, concerns and priorities,” he says.More on this topicNo to retirement, yes to higher education: Why some seniors are going back to schoolUniversity of the Arts Singapore marks first batch of graduatesJane Ng is a senior correspondent who covers parenting, education and lifestyle stories. She writes a regular column, Minor Issues, where she mulls over her parenting dilemmas. See more onST HeadstartLifestyle interviewsST Smart ParentingParentingMedicineNUSWork Bestie

money anxiety

Subscriber exclusiveMoney trauma is a growing topic of discussion in Singapore, say coaches and social workersAlyssa WooFollow topic:InvestSummaryMoney trauma could stems from childhood financial struggles, impacting adults' emotions, identities, and behaviours around money, often causing anxiety.Rising living costs and job insecurity in Singapore have increased money-related stress, with many facing retrenchment fears and financial instability.Experts stress understanding personal money beliefs, breaking generational cycles, and seeking financial education and support to manage and overcome money trauma effectively.AI generatedPublished 13 hours agoUpdated 3 hours agoListenSign up for ST InvestMe and unlock full access to exclusive insights and financial literacy courses today.SINGAPORE – Growing up, Michelle Mah felt like money was never enough and “always hard to earn”.Her family home was filled with hand-me-down furniture, including a faux leather grey sofa “we used to death until it had holes”.Her father, who worked in the government sector, had only secondary school education. Watching her parents struggle and argue over money, she had a strong sense that she and her older brother had to work hard to “get out of that cycle”.One pivotal moment came when her parents cashed out their insurance policies to fund the two siblings’ university education without taking out loans.Her childhood experiences left her believing that “you have to struggle” for money and that “nothing comes without cost” – a mindset that shaped her work, relationships and approach to money.She drew a starting salary of $2,800 in her previous job in the events industry and would splurge on bags from luxury brands such as Prada, Louis Vuitton and Gucci. That phase reflected a time when money and possessions were closely tied to her identity. She has since learnt to base her sense of self-worth on something beyond them and has sold off those bags.Armed with her own experience with money, Mah, 37, is now a psychotherapist and coach who helps clients with their money woes.Having grown up with money struggles, Michelle Mah, now a psychotherapist and coach, says that children can learn about money just by observing adults fret over bills. PHOTO: COURTESY OF MICHELLE MAHAlyssa Woo is a business correspondent at The Straits Times. She writes about how retail and work spaces are used and evolve with the times, as well as personal finance stories for the Invest section.See more onInvestMoney MattersSocial workDebt restructuring/InsolvencyST InvestMeTop storiesExplore top stories from all sections in one placeSingaporeSingaporeSingaporeSportNational Cancer Centre e-mail lapse allegedly exposes patients’ details including names, workplacesHDB completes Tengah BTO project using new technologies2-year-old S’pore boy is one of estimated 400 in world with disease caused by single altered geneGan Ching Hwee leads few Asiad medal hopefuls in transition period for Singapore swimming

down sizing

Subscriber exclusiveCan’t bear to downsize your home? Think of it as rightsizingAngela TanFollow topic:ST InvestMePublished 15 hours agoUpdated 5 hours agoListenSign up for ST InvestMe and unlock full access to exclusive insights and financial literacy courses today.SINGAPORE – It all started over a get-together of old friends and empty nesters whose children are grown up and have moved out of the family home.Patrick Chan and his wife Julie have lived in the same detached house for more than 30 years. It is where Julie grew up and, after she got married, raised her children and watched her family grow. Today, things are different.Their sons are married and have their own homes, and their daughter is working overseas. Their rooms have become storage rooms.On most days, it is just Patrick and Julie and their helper.One evening over dinner, Patrick casually wondered if they should sell the house and downsize to a smaller place.It was a simple question, but it sparked an angry outburst from his wife, who viewed the proposition as a downgrade in lifestyle and status.“I can’t talk to her about money or downsizing. She gets so emotional,” says Patrick with a sigh. “Our current place was last renovated before we moved in with her parents. We added another floor.“Every day feels like a military operation – I have to plan my movements to avoid climbing up and down the stairs multiple times,” he adds.Bothered lately by his cranky knees, he figured it might be more convenient to move to a more compact home with newer fittings that could be cheaper to maintain, easier to clean and better suited to this stage of life. Doing so would also allow the couple to unlock the money tied up in the house Julie inherited when her parents passed away. This could give them more financial freedom to enjoy retirement, including spending on travel, healthcare, hobbies and other things they value, without constantly worrying about money. Unfortunately, Julie does not feel the same way. She is emotionally attached to the place and the neighbourhood, though in her heart she knows Patrick is just being practical.See more onST InvestMeInvestSingapore propertyRetirement planningTop storiesExplore top stories from all sections in one placeSingaporeSingaporeSingaporeSingaporeFitness chains tout incentives to lure members affected by True Fitness, True Yoga closuresIn an uncertain world with many problems, Singaporeans must help each other: SM LeeWorker dies after being struck by hose at Jurong Port Road construction site; MOM investigatingInclusive festival lets visitors experience life through the eyes of disabled artists

retire with 20 years or more

Subscriber exclusiveWhy it’s important to know how to spend time meaningfully after retirementBrian J. O’ConnorFollow topic:InvestPublished Sep 4, 2026, 5:00 AMUpdated Sep 4, 2026, 4:42 PMListen“They’re stressed, they’re done, they retire, and at some point they’re recharged and they come back to work, especially the more educated group, where there’s not a physical component to the job.”Work that is physically demanding and low-wage jobs extend inequality in the labour force to inequality in retirement, too, denying the benefits of a lengthier retirement to many older Americans, Sanzenbacher added. Black and Hispanic Americans, or people who live in multi-generational households where they support parents or children and grandchildren, are among the groups most likely to keep working well past retirement age.More on this topicFinancial freedom is being able to pay for all expenses, not how much you have How you can do better than having $600,000 in your bank account Envisioning a long retirementA retirement of 20 years or longer can cover three phases: an active, healthy phase right after leaving work, followed by a period of less activity, and a final period when retirees settle into a lifestyle with little activity near the end of life.•Phase one: If they have the resources, this is when retirees should travel, before illnesses or ailments show up. Conventional wisdom once held that spending dropped after you left work, but later, research found that spending actually increased as retirees took up new hobbies, travelled, relocated and pursued other long-delayed plans.•Phase two: After 10 to 15 active years, physical reality catches up with 75- or 80-year-old retirees. Those who were working part-time have typically finished but still have time for family, friends and social activities. Spending tapers off.•Phase three: After an additional five to 10 years, retirees typically stay closer to home with less activity and may develop more serious health issues that can lead to large medical bills. As at 2025, the median cost for non-medical caregiver services at home was US$80,000 a year (assuming 44 hours a week), assisted living was just over US$74,000, and a private nursing home room cost about US$130,000.Like all retirement decisions, though, lifestyle comes down to money. Check with a planner to see whether your finances will support your goals, and don’t ignore inflation.At the Federal Reserve’s target rate of 2 per cent annual inflation, a retiree living on US$5,000 a month in 2026 would spend more than US$7,400 per month 20 years from now to cover their expenses. But inflation doesn’t stick to the average – the rate for June was 3.5 per cent, nearly twice as high as the Fed’s target.“Most people haven’t thought through what their life will be like in retirement,” Crews said. “They’ll say, ‘I’ll figure it out. I’m going to go to Yellowstone, I’ll go on cruises.’ They need to consider the work benefits that don’t involve a pay cheque – friendships, solving problems and feeling like you play a significant role. The question is, ‘Where are you going to find purpose?’ And it’s not going to be on a cruise ship.” NYTIMES•This article originally appeared in The New York Times.See more onMore on this topicInvestRetirementLearn how to manage your money better at InvestMe event on Sept 17Retirement planningHobbiesFinancial literacyRetire with more money? Learn how to grow $1m in your CPF from the first InvestMe event videoTop storiesExplore top stories from all sections in one placeSingaporeSingaporeSingaporeSingaporeFitness chains tout incentives to lure members affected by True Fitness, True Yoga closuresIn an uncertain world with many problems, Singaporeans must help each other: SM LeeWorker dies after being struck by hose at Jurong Port Road construction site; MOM investigatingInclusive festival lets visitors experience life through the eyes of disabled artists