Using CPF Investment Scheme - Special Account

[MCKawe]

Anyone have any idea how the procedure to use CPFIS-SA works?

Went down to the local branch of 2 banks and e-mailed the investment department of the banks, no one had any idea how to utilise it.

 

[BBCWatcher]

Anyone have any idea how the procedure to use CPFIS-SA works?

Went down to the local branch of 2 banks and e-mailed the investment department of the banks, no one had any idea how to utilise it.

What do you want to use it for? If you want to use it for a unit trust, you should NOT use a bank or any other "brick and mortar" establishment. You should be using a zero sales charge online platform such as DollarDex, POEMS, or Fundsupermart.

If you want to use it to buy a t-bill (that's maturing soon), then your experience is not uncommon since the average (or even above average) bank employee doesn't know how to take an order for a t-bill using cash, never mind CPFIS-SA funds. Which is why it's not my favorite approach since it's just too hard to find a bank employee who knows what he/she is doing for this maneuver. But if you get lucky, great.

 

[JuniorLion]

There's a need for people here to know how to do this. Because we'll need to do the SA shielding trick..

Hopefully someone can share on this.

 

[MCKawe]

There's a need for people here to know how to do this. Because we'll need to do the SA shielding trick..

Hopefully someone can share on this.

Yes, that's what I am planning for using T-bills. Either one that is on auction or soon to mature.

Any idea which bank/branches have at least one employee who knows?

What other approach is there? Anything else that is reasonable to purchase for shielding?

 

[BBCWatcher]

What other approach is there? Anything else that is reasonable to purchase for shielding?

Yes, a low volatility/low risk unit trust, if purchased through a zero sales charge platform: POEMS, DollarDex, or Fundsupermart.

To find such unit trusts, consult this list and look for unit trusts that are listed as "Low to Medium Risk - Narrowly Focused - Country - Singapore" and that are also listed as CPFIS-SA eligible. One example is the United Singapore Bond Fund. (Not the other United fund on the list.)