Yes, in some measure. It’s very attractive.Example working in a location outside of Singapore?
You’re not allowed to make a directed contribution into OA only, except as repayment of previously used OA dollars (housing, education), and bonus interest is practically irrelevant operationally to OA, so your hypothetical is moot. There is no such offer on offer.Or is there a limit you would do eg. 20k in OA only for the 3.5% interest?
That’s another hypothetical (PR, not PR, PR), and it essentially never happens. It’s been over 10 years since PR status was relatively easy to get (or even to buy), but that’s not true any more. The only reasonable, responsible forecast for those who terminate (or lose) PR status, or Singaporean citizenship, is that they’re never getting it back.If you are PR (not west malaysia), you can get the money if you surrender your pr status but keep in mind. You must return back the money plus accrued interest (til today) if you want to reapply pr
CPF interest rate is high.
it meant to support you to have little cash when you retired, at least on your olden days you are not begging for money to buy food.
If you are PR (not west malaysia), you can get the money if you surrender your pr status but keep in mind. You must return back the money plus accrued interest (til today) if you want to reapply pr
I cannot top up anymore, used to do it for the tax relief and additional bonus.
Example working in a location outside of Singapore? Or is there a limit you would do eg. 20k in OA only for the 3.5% interest?
Yep.
It sucks that there's 181k limit.
I have a same misunderstanding too until I paid a visit to CPF. It turn out even you see 181K in the account, you may actually not hitting the limit yet as your 181K consist of contribution plus a large portion of interest. Interest earned is not counted. They have a record. You can still make a contribution. Excess amount of interest will be transferred to your OA next year.
That's what I understand. Pay then a visit to understand more.
I have a same misunderstanding too until I paid a visit to CPF. It turn out even you see 181K in the account, you may actually not hitting the limit yet as your 181K consist of contribution plus a large portion of interest. Interest earned is not counted. They have a record. You can still make a contribution. Excess amount of interest will be transferred to your OA next year.
CPF is not your money.
Now many Government lackeys come out to preach on topping up CPF.
From what I see. We are in deep sheet.
Pray for our retirement age.
If you are below 30 now. You can forget about touching your CPF