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The last five AFP withdrawals allowed due to the pandemic generated SGD 87,962 million from private pension systemWho took the most?
According to the Banking, Insurance and AFP (SBS), 66% of affiliates who chose to withdraw money from their pension fund gained access to more than 80% of the account.
This means that seven out of 10 participants private pension system they gained access to most of their retirement savings.
Similarly, 25.7% of AFP affiliates have chosen to withdraw all of their accounts by 2021.
The youngest are among those who filmed the most. Partners aged 20 to 29 requested an average of 84.4% of their funds, while people aged 30 to 39 requested 85.3% of their funds.
Taking into account branches They are estimated to have withdrawn 70.5% over the age of 40 because they have a larger accumulated fund due to a longer contribution period than younger partners.
Experts warn that these withdrawals could reduce your possible old-age pension by up to 30%.
It’s worth noting that, according to SBS, the most recent withdrawal reported $2.5 million. workers that they have a zero balance of funds, that is, they have S / 0 in their accounts due to withdrawals.
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.