If you are under 55 years old and have not yet hit the FRS,doing a voluntary cash top up to your CPF SA provides two benefits: Benefit 1:Enjoy a risk-free 4% p.a. interest rate on SA savings Benefit 2:Income tax relief at your marginal tax rate (see below table), capped at S...
CPF Cash Top-up Relief CPF Retirement Sum November 5, 2016Leave a comment Retirement Sum Scheme From January 2016, you can choose from three levels of retirement sum to set aside in your Retirement Account – Basic, Full or Enhanced Retirement Sum Basic Retirement Sum (BRS) Full Retirement ...
Once your RA is formed, the RSTU switches to RA and the limit is extended to ERS, which you can also do immediately in cash if you don’t care about the tax relief. Some parents are even topping up their child’s CPF to the FRS maximum because the rates are so good. However ...