CPF interest 2017

[mummy1234]

My total CPF interest S$8k plus. Dunno if I should VC to my CPF to reach FRS. Since I am not good with shares, might as well TOP up my SA and let the magic of compound interest take effect?

 

[OngHuatHuat]

Hi mummy, you have quite a lot in OA?

If you have spare cash, should just top up max special account instead of let you cash sitting in bank account.

My total CPF interest S$8k plus. Dunno if I should VC to my CPF to reach FRS. Since I am not good with shares, might as well TOP up my SA and let the magic of compound interest take effect?

 

[BBCWatcher]

Dunno if I should VC to my CPF to reach FRS.

If your Medisave and/or Special Account top-ups can be made, and if they qualify for tax relief, the tax relief might make the decision a little easier.

If you're married, and if your spouse needs some help getting his/her accounts high enough to maximize bonus interest, try to help if you can, especially if you (or your spouse) can get some tax relief, too.

 

[Sausage]

How come you all get so much interest
How old are you all and working how long

Sent from Xiaomi MI MAX using GAGT

 

[mummy1234]

Hi mummy, you have quite a lot in OA?

If you have spare cash, should just top up max special account instead of let you cash sitting in bank account.

Not a lot about S$50k only.

 

[mummy1234]

How come you all get so much interest
How old are you all and working how long

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I am 42 years old, worked for 18 years but last 7 years no CPF contribution, only cash SA TOP up S$7k a few times.

 

[mummy1234]

If your Medisave and/or Special Account top-ups can be made, and if they qualify for tax relief, the tax relief might make the decision a little easier.

If you're married, and if your spouse needs some help getting his/her accounts high enough to maximize bonus interest, try to help if you can, especially if you (or your spouse) can get some tax relief, too.

I dunno if I should S$7k cash TOP up to get tax relief better or VC better... cash is king in emergencies right?

 

[OngHuatHuat]

I am 42 years old, worked for 18 years but last 7 years no CPF contribution, only cash SA TOP up S$7k a few times.

I thought you are still liable for medisave payment of few thousands per year?

 

[OngHuatHuat]

Not a lot about S$50k only.

A lot compared to my OA.

 

[dork32]

How come you all get so much interest
How old are you all and working how long

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a lot meh? three accounts add together 8k is not a lot.

 

[Perisher]

How come you all get so much interest
How old are you all and working how long

Sent from Xiaomi MI MAX using GAGT

Don't compare to them... Some is CSB. Some earns high pay. Some is VC.
Anyway, just look at if you have achieved what you want.

 

[OngHuatHuat]

How come you all get so much interest
How old are you all and working how long

Sent from Xiaomi MI MAX using GAGT

Not that much actually.
I am 32 going into 33 in a few months time.

 

[Wood41]

For us who are in stocks , it is big bull in 2017.

For those ‘not good with shares’....

Since I am not good with shares

 

[henrylbh]

For us who are in stocks , it is big bull in 2017.

For those ‘not good with shares’....

If bought private properties in 1969 in sg, nothing can compare.

 

[mummy1234]

I thought you are still liable for medisave payment of few thousands per year?

Dunno leh, maybe because I don't put trade income ? Called CPF before and they also don't chase after me.

 

[OngHuatHuat]

Dunno leh, maybe because I don't put trade income ? Called CPF before and they also don't chase after me.

I think by right your company needs to put in CPF for you since you are considered as a part timer, not sure what happens though, but seems like you are losing out on employer CPF contribution despite of a higher take home pay.
Perhaps you should talk with your employer regarding this matter.

 

[crimsontactics]

For us who are in stocks , it is big bull in 2017.

For those ‘not good with shares’....

Yeah lor...

Jin regret no pump DBS, up 40+% since 2nd Jan 2017...

Pump liao then put into CPF...

I straight pump into CPF, only earn $1800 interest...

Sent from . using GAGT

 

[WWH123]

mummy no tax relief if already FRS is met regardless which account cash topup is going into. I asked at 2 branches last week

I dunno if I should S$7k cash TOP up to get tax relief better or VC better... cash is king in emergencies right?

 

[WWH123]

The one you all should take care of is.. SA. Can earn interest can bequest

 

[henrylbh]

Yeah lor...

Jin regret no pump DBS, up 40+% since 2nd Jan 2017...

Pump liao then put into CPF...

I straight pump into CPF, only earn $1800 interest...

Ha ha like you can choose the timing.

Had you bought DBS about twenty years ago at a high price you will be terribly sore even with today's closing price