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If you don't have to pay CPF, would you still do it?

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Old 09-02-2020, 11:05 AM   #1
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If you don't have to pay CPF, would you still do it?

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?

Last edited by beefjerky; 09-02-2020 at 08:17 PM..
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Old 09-02-2020, 11:21 AM   #2
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CPF is a good and sustainable retirement scheme subsidised by the government. I donít see any reason you should not use it even you have no intention to live in Singapore for the rest of your life.
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Old 09-02-2020, 11:26 AM   #3
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Yep.
It sucks that there's 181k limit.
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Last edited by d9_lives; 09-02-2020 at 11:38 AM..
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Old 09-02-2020, 11:40 AM   #4
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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
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Old 09-02-2020, 11:56 AM   #5
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I would do it for the tax relief.

But I want anything above the additional 1% to be investable through cpfis.
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Old 09-02-2020, 12:36 PM   #6
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Example working in a location outside of Singapore?
Yes, in some measure. It’s very attractive.

Or is there a limit you would do eg. 20k in OA only for the 3.5% interest?
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.

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
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.

Last edited by BBCWatcher; 09-02-2020 at 12:44 PM..
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Old 09-02-2020, 08:18 PM   #7
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Thank you all for ur replies!
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