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More Singapore residents are hitting their Central Provident Fund (CPF) savings targets at age 55, according to the CPF Board’s 2025 annual report.

Such CPF members become eligible to withdraw excess savings if they wish. A record amount of withdrawable funds was taken out in 2025 by those aged 55 and above.

Of the 41,000 active CPF members who turned 55 in 2025, 73.4 per cent had set aside the Full Retirement Sum (FRS), or at least the Basic Retirement Sum (BRS) while owning one property, up from 70.5 per cent in 2024.

The preparatory works, to be carried out in two phases, will primarily involve removing seabed obstructions and constructing temporary sand bunds and sand infilling.

The works will be at least 130m away from the shoreline, in the waters off East Coast, and will be demarcated by silt screens and/or floating barriers.

The Singapore market rallied in response to a peace deal announced by the US and Iran that could reopen the Strait of Hormuz.

The Straits Times Index (STI) rose 1.3 per cent during the morning trading session, hitting above 5,094 at its peak, before the increase moderated to 1.1 per cent at around 3.30pm, with the index at 5,081.69. It eventually closed up 1 per cent at 5,077.29.