After putting in money in your SRS account to reduce your tax payments, what do you do with it? The agent bank I put my money in offered an extremely low interest rate, to the point of being negligible. If you factor in the inflation rate of 6%, your money would have been lost. One [...]
Popularity: 13% [?]
Find out much you can be getting per month from your CPF annuities. Do your calculations over here at CPF Life Payout Estimator. I tried both refunds and non-refunds. The difference isn’t much. It all depends on how much money you have in your minimum sum. I tried $100000 as minimum sum. The difference I [...]
Popularity: 8% [?]
From 1 April 2008 onwards, you will not be able to invest the first $20000 in the ordinary account, and also the first $20000 in your special account. What is the purpose of investing money from your ordinary account (OA)? Well, you will earn 1% more on the first $60000 in the OA and Special, [...]
Popularity: 11% [?]
CPF Life, a form of annuity scheme, will start in five years time. That means those who are 50 years old will get to opt for one of the twelve schemes five years later. Originally when the idea was first mooted, people created a ruckus. This was because they were both kiasu and kiasi, and [...]
Popularity: 7% [?]
There are some changes made to the Central Provident Fund. The advantage is the 1% extra in interest for the first $60000. $20000 comes from the ordinary account. For young Singaporeans, we have to wait until we are 65 years old to be eligible to withdraw the Minimum Sum. While the reasons for increasing the [...]
Popularity: 7% [?]