Posted on Dec 04, 2018
False. When you turn 55 years old, some of your Ordinary Account (OA) savings may be transferred to your newly created Retirement Account (RA) to form your retirement sum. However, you do have a choice to reserve savings in your OA and continue to use it for your housing loan repayments. Read on to find …
Posted on Sep 24, 2018
That’s not true. As long as you earn more than $50 a month, your employer will need to make a CPF contribution for you. This also applies if you’re working part-time or temporary jobs such as internships and holiday jobs.
In fact, you should receive a CPF contribution from your employer as long as you …
Posted on Mar 28, 2018
The answer is…No. From 1 January 2016, you no longer need to top-up your Medisave Account (MA) with your savings in your Ordinary Account (OA) or Special Account (SA) before you can make a withdrawal from your OA and/or SA at age 55 – even if you do not meet your Basic Healthcare Sum (BHS).
Posted on Feb 12, 2018
You may have received a message or seen rumours circulating on social media about your CPF nomination. Are those rumours true? Read on to get the answers to common misconceptions about the CPF nomination.
Myth #1: My Medisave savings will go to the government when I pass on.
False! When you make a …
Posted on Jul 21, 2017
When it comes to making important long-term financial decisions, one common dilemma is whether to prioritise our own retirement needs over our children’s needs. We want the best for our children, but it is also important to be realistic about our future needs. If you don’t invest and have no alternative source of income, …
Posted on Mar 08, 2017
With enhanced coverage under MediShield Life, many wonder if they still need private insurance plans.
Under MediShield Life, all Singapore Citizens and Permanent Residents are now covered for life with better protection against large hospital bills. It’s good to start thinking if you require additional coverage. This will help you better manage your healthcare expenses …
Posted on Oct 27, 2016
Purchasing a home is one of the most expensive transactions that Singaporeans can make. Home ownership is an important pillar for your retirement as you can use your home as an additional source of income when you retire. As such, you have the option of using your CPF savings to finance your home loan.
Posted on Nov 26, 2015
MediShield Life has started on 1 November 2015. This means all Singapore Citizens and Permanent Residents – including the very old and those with pre-existing conditions – are now covered for life with better protection against large hospital bills. With better benefits, MediShield Life premiums will have to increase, but they will be affordable.
Posted on Aug 14, 2015