Cpf voluntary top up

[Shingoz]

Anyone doing it? I read that it's 7,000 per individual, exlc families.


Does it go to oa or speacial account?

Wondering if the money can be used for housing load payment in future

 

[qhong61]

Anyone doing it? I read that it's 7,500 per individual, exlc families.


Does it go to oa or speacial account?

Wondering if the money can be used for housing load payment in future

Don't think so. More for retirement.

 

[cscs3]

Do it every year. Think is 7k max per account and 14k max per person. Tax deductable. Both way benefit. You get tax rebate plus higher interest in CPF account.

 

[Shingoz]

Do it every year. Think is 7k max per account and 14k max per person. Tax deductable. Both way benefit. You get tax rebate plus higher interest in CPF account.

Oops yeah it's 7000

But we cant use it for hdb loan or bank housing loan payment in future?

 

[Shingoz]

Ah found the link
It's to sa... Hence can't be used for anything other than retirement

https://www.iras.gov.sg/IRASHome/In...tions-for-Individuals/CPF-Cash-Top-up-Relief/

 

[Trazora]

There are some differences for self-employed and employed. Eg if self-employed can also look at top up to MA.