As Singaporeans increasingly rely on the Central Provident Fund (CPF) for retirement savings, many are beginning to notice that the interest rate on the CPF Ordinary Account (OA) is a meager 2.5%. This low rate often falls short in keeping pace with inflation, making it crucial for individuals to explore investment opportunities that offer better returns.

If you're looking to boost your passive income as you approach retirement, here are five blue-chip stocks listed on the Singapore Exchange that boast dividend yields more than double that of your CPF OA.

1. DBS Group (SGX: D05)

DBS Group, Singapore's largest bank by market cap, has made headlines with stellar performance in 2024. Thanks to rising interest rates, the bank achieved record-breaking earnings. Total income rose to S$22.3 billion, a 10% year-on-year increase, contributing to a net profit of S$11.3 billion—an impressive 12% jump. With a quarterly dividend increase from S$0.54 to S$0.60 per share, DBS aims to reward shareholders with a total annual dividend of S$3 per share. At a share price of S$45.85, this translates into a forward dividend yield of 6.5%.

2. Venture Corporation (SGX: V03)

Specializing in technology products and solutions, Venture Corporation faced challenges this year due to a slowdown in the semiconductor sector. Revenue dipped to S$2.7 billion, a decline of 9.6%. Nonetheless, the company reported a robust free cash flow of S$466 million and proposed a total dividend of S$0.75 for 2024, maintaining last year’s payout. The current share price of S$12.54 reflects a trailing yield of 6%. Venture is optimistic about the future, with plans to expand its presence in the growing hyperscale data centers market.

3. CapitaLand Integrated Commercial Trust (SGX: C38U)

CapitaLand Integrated Commercial Trust (CICT) operates a diverse portfolio of 21 properties in Singapore and several assets abroad, boasting a significant AUM of S$26 billion. The trust reported a modest revenue growth of 1.7% to S$1.59 billion and a net property income of S$1.15 billion. Investors will benefit from a distribution per unit of S$0.1088, translating to a trailing distribution yield of 5.4% at a unit price of S$2.01. With an occupancy rate of 99.3% in retail and positive rental reversions, CICT is well-positioned for continued success.

4. CapitaLand Ascendas REIT (SGX: A17U)

With a portfolio spanning 229 properties across various regions, CapitaLand Ascendas REIT focuses on industrial investments. It reported a revenue of S$1.52 billion for 2024, marking a 2.9% year-on-year increase. The DPU increased modestly to S$0.15205, providing a trailing distribution yield of 6% based on a unit price of S$2.52. With robust operating metrics and a commitment to redevelop and refurbish properties worth S$803.6 million, long-term investors can expect lucrative returns.

5. Genting Singapore (SGX: G13)

Genting Singapore, the powerhouse behind the integrated resort Resorts World Sentosa, displayed mixed results this year. Revenue climbed to S$2.53 billion, but increased expenses led to a net profit decline to S$578.9 million. The company maintains its final dividend at S$0.02 per share, resulting in a total dividend yield of 5.6%. As it gears up for the introduction of new attractions like the Singapore Oceanarium, Genting's growth potential could attract more investors.

Why Invest in Blue-Chip Stocks?

Investing in blue-chip stocks not only offers higher dividend yields than the CPF OA but also provides a hedge against inflation. These companies typically have a solid track record, stability, and resilience, making them ideal for long-term investment. Don't let your retirement savings stagnate; consider diversifying your portfolio with these top picks for better financial security.

Stay tuned for more insights and updates on the investment landscape!