With the recent budget 2022, there are several major changes in the CPF scheme for all Singaporeans and PR. You should be aware of these as they will potentially impact you. 1. Increased tax relief from $7,000 to $8,000 per year on cash top-ups The tax-relief cap on CPF cash top-ups to your own Special [...]
The Singapore pension scheme is pretty complex and especially if you are slightly older, there are more options for you to choose from. One of the main questions I get is which scheme is more appropriate? At this point, there are 2 different schemes that one can potentially choose from depending on your age, namely: [...]
One little known fact, your CPF Medisave account is earning the same interest as your CPF Special Account, which is currently 4%. For most CPF members who have been working for many years, your Medisave account should typically be maxed out at $62k currently. However, for various reasons, if you would like to voluntarily top-up [...]
As part of my job, understanding how our CPF system works is crucial in strategizing financial plans for my clients. I am also privileged to work with clients who work in CPF and IRAS, and who have much more knowledge and experience than I do. The more I find out about our CPF system, the [...]
Mr Yang realized the benefits of leveraging on his and his wife's CPF to work towards their retirement. And thus he took action from 2011 to transfer a portion of his CPF to his wife's account and then through steady contributions over the next 6 years, manage to build $166k in both his own and his wife's CPF accounts.
So what exactly happens to your CPF when you reach 55? Do you know your options and how best to optimize your savings?
A quick summary of the most important points you must know about CPF Life, because it concerns you.
Several CPF scheme changes were approved in 2015 and just came into effect in 2016. Here are the most significant changes that you must be aware of.
Confused about Medishield Life and the various Integrated Shield Plans? Here are the 4 main considerations for you when deciding whether you need IPs.
In case you don't already know, Medishield Life took over Medishield starting 1 Nov 2015. You may be wondering what this is all about and whether you should be concerned. Well, I've summarized the main things you need to know about this CPF update.
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