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Old 10-04-2019, 10:59 PM   #1147
starry9t
Junior Member
 
Join Date: Dec 2018
Posts: 40
Hi BBCW, i've been reading lots of your posts on HWZ and learnt a lot from you. really impressed with your knowledge on singapore's CPF system. thank you for sharing your knowledge with us!

your posts on CPF made me wonder if there's anything i can do for my mum. she's recently acquired PR status in sg at the age of 56, so she has literally $0 in all her CPF accounts at the moment. as she doesnt have any income, i feel tempted to top up her CPF account so that i can save some tax benefits, and she might be able to get some cpf pay-out later when she reaches 65 or 70. but tax relief is capped at 7k cpf contribution per year, and i'm the only person working in the family and therefore the only person to top up her cpf. given that she's already past 55 years old, do you think it's still worth it for me to make voluntary contribution to her cpf account? if i make 7k contribution each year starting this year, it seems that she still wont be able to have enough money to enjoy CPF Life? do you think i should make contributions more than 7k a year to make it worthwhile?

would greatly appreciate your advice. thank you!
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