Category: CPF related
-
CPF Nomination in a nutshell – What you need to know
Learn how to secure your CPF savings for loved ones with our comprehensive guide to CPF nomination in Singapore.
-
CPF Lease Buyback Scheme
Understand CPF’s Lease Buyback Scheme & secure retirement income by monetizing your home in Singapore. Learn more now.
-
CPF Cash Top-up Relief 2024
Last updated: March 2024 Key Takeaways: Introduction:Maximizing your financial strategy in Singapore can include leveraging your CPF Special Account. This concise overview explains how cash top-ups to your CPF SA can not only enhance your retirement nest egg but also provide welcome income tax relief. Featured Snippet:Can topping up your CPF Special Account (SA) with…
-
CPF Medisave vs Medishield – What is the difference?
We believe what most people know about CPF is that it consists of Ordinary Account, Special Account and Medisave account. Out of these 3, Medisave seems to be the only one that you cannot withdraw, use or seemingly locked into obscurity. However, one major feature of CPF is its health coverage. While Medisave is more…
-
Treating your CPF Special Account and Retirement Account as a Bond Investment 2024
Most Singaporeans consider their money in CPF as untouchable for any purpose other than for paying their housing loan, student loan or medical bills (More on CPF Schemes here). There is one more way to view your CPF money, particularly the money in your Special Account (SA) and Retirement Account (RA). You can view them…
-
CPF Contribution Changes from 1 Jan 2024
Key Takeaways: Introduction:Effective 1 January 2024, CPF contribution rates rise alongside the salary ceiling, impacting Singaporeans’ financial planning. Understanding CPF Changes:What are the implications of the CPF rate and salary ceiling increases starting 1 January 2024? The adjustments are designed to bolster retirement savings, affecting take-home pay and necessitating budget adjustments for both employees and…
-
CPF SA Shielding 2024: Evaluating Its Benefits and Drawbacks
Key Takeaways In the recent Budget 2024, the government made the decision to close Special Accounts – meant for retirement savings and investments – for those aged 55 and older, this will certainly affect how people make use of SA shielding. Introduction Unlock the potential of your CPF savings with SA Shielding—a strategic move to…
-
How to Invest Gold in Singapore?
I am sure all of us know about the all-so-mighty and ever-important yellow shiny metal which was used centuries ago. It’s magical lure? It is a commodity with a limited supply and growing demand (from electronics to hedging against inflation). Let’s talk about how we can acquire this precious metal into our portfolio. Gold Investments…
-
Is it worthwhile to invest my CPF Money in the Investment Funds given?
CPF Investment Scheme (CPFIS) was launched by CPF for CPF members to utilise their CPF money for investments and to enhance their retirement egg nest. For more information on the CPFIS scheme, you can visit the CPFIS scheme website here. The more important question however, is “should I invest my money into the funds?” Statistically, the answer…
-
CPF Education Scheme for NUS, NTU and SMU
You would probably have used the CPF Education Scheme to fund for your tertiary education in NUS, NTU or SMU. In fact, from personal experience of a local grad, people will want to exploit this scheme as an alternative to “withdraw” funds from their CPF! This comes forth from the perspective that the CPF funds indirectly…
-
Is the New CPF LIFE Escalating Plan a good deal?
Set to launch in the beginning of 2018, the new CPF LIFE Escalating plan is another retirement payout option for retirees to choose from beside the currently existing plan – the Basic Plan and the Standard Plan. The new plan includes 2 features: You start with a lower monthly CPF LIFE payout (20% lower than…
-
CPF Housing Grant for Resale HDB to be increase for First Time Buyer
In the Budget 2017, Finance Minister Heng Hwee Kiat made the announcement to increase the CPF Housing Grants available for first-timer families buying a resale HDB. The grant amount will increase from the $30,000 currently to $50,000 (4-room or smaller resale flat) or $40,000 (5-room or larger resale flat). This new enhancement has taken effect…