With Singapore’s Central Provident Fund (CPF) being a hot topic in retirement planning, it’s no wonder there are numerous misconceptions surrounding it. However, many of these misconceptions are nothing more than myths. In this article, we will debunk the most common misconceptions about CPF retirement planning, allowing you to better understand how to make the most out of your CPF savings.One of the most common misconceptions about CPF retirement planning is that your CPF savings are not sufficient for a comfortable retirement. This could not be further from the truth. In fact, CPF is designed to provide a steady stream of income in your retirement years, with the flexibility to withdraw a lump sum or opt for monthly payouts. Additionally, CPF offers attractive interest rates, making it a reliable source of retirement income. Another misconception is that CPF is only for retirement, but in reality, it also serves as a safety net for healthcare needs and housing financing. So, instead of relying solely on your CPF for retirement, it’s important to have other sources of income as well.