SMU adjunct faculty member and instructor in the Citi-SMU Financial Literacy Programme for Young Adults, Larry Haverkamp outlined CPF schemes and tips to mitigate the risk of one outliving their money. He highlighted the Minimum Sum Scheme, which requires one to set aside $148,000 when one turns 55. If this is not met, Singaporeans or Permanent Residents will be placed on CPF Life provided they have $40,000 or more in their Retirement Account at 55. He also highlighted the property pledge, which allowed the account holder to use what would otherwise become part of his Retirement Account for housing needs.