Remember to top up ur minimum sum

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#1
for those who do not know what this is:

http://mycpf.cpf.gov.sg/Members/Top-Up_LO.htm

personally i think this is a great deal. do it before 31dec.
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#2
(28-12-2012, 08:39 PM)AlphaQuant Wrote: for those who do not know what this is:

http://mycpf.cpf.gov.sg/Members/Top-Up_LO.htm

personally i think this is a great deal. do it before 31dec.
Good deal for the govt or pp? The retirement age seems to increase every few years.
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#3
the goal post keep shifting!!

ur better off investing the money urself if you can! :O
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 
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#4
Rainbow 
for those who pay income tax, top up your own CPF-SA with cash and you might be handsomely rewarded with a free ipad.

For example, you're paying Singapore income tax and your chargeable income is S$87k for FY12.

For first 80k, you'll pay S$3350 tax.
next 7k, you'll pay S$805 tax.

Suppose, you top up 7K to your CPF-SA, you'll saved S$805
aka free Ipad - a gift/nice gesture from Singapore Government.

I wish that you're qualified for this gift... may be not this year but sometime soon....

Smile
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#5
If i am 30 years old today, and i top up money into the SA, to earn an interest of 4%, it doesnt sound like a good deal. I can only withdraw this money around the age of 60++. Isnt it like buying a 30 year bond with interest of 4% with no potential of a capital gain? It sounds very silly to buy a 30 year bond at 4% today, buying the shares of uob or ocbc would make more sense to me.
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#6
personally it is a decent deal for me

i did the full 7k personally and also 7k for my mum (who is 70yrs old and umemployed)

so i get tax savings on 14k which is a fair bit.

since my mum is retired, the money goes into her retirement account which in turns streams back into her account every mth.

4% risk free rate (this is not guaranteed though, there's no guarantee that the cpf rate will be given a 4% floor forever) is actually quite decent for me, given the other exposures i have.
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#7
Would you like to share how much tax you saved ?
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#8
(30-12-2012, 01:14 PM)AlphaQuant Wrote: personally it is a decent deal for me

i did the full 7k personally and also 7k for my mum (who is 70yrs old and umemployed)

so i get tax savings on 14k which is a fair bit.

since my mum is retired, the money goes into her retirement account which in turns streams back into her account every mth.

4% risk free rate (this is not guaranteed though, there's no guarantee that the cpf rate will be given a 4% floor forever) is actually quite decent for me, given the other exposures i have.

Well done for topping up ur mum's account. She should be proud.
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#9
What is the maximum allowable amount in SA, beyond which, cash top up is not allowed.
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#10
Rainbow 
(30-12-2012, 10:32 PM)BeDisciplined Wrote: What is the maximum allowable amount in SA, beyond which, cash top up is not allowed.

Not easy to generalise, best to call 1800-227-1188 to tell them your plan.

self service, here:
http://mycpf.cpf.gov.sg/CPF/News/News-Re...012_MF.htm
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