Remember to top up ur minimum sum

[AlphaQuant]

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.

[Bibi]

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.

[brattzz]

the goal post keep shifting!!

ur better off investing the money urself if you can! :O

[chialc]

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....

[safetyfirst]

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.

[AlphaQuant]

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.

[safetyfirst]

Would you like to share how much tax you saved ?

[Muck]

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.

[BeDisciplined]

What is the maximum allowable amount in SA, beyond which, cash top up is not allowed.

[chialc]

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