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Anonymous
PS - I have zero needs to use CPF-OA to pay for property as I'm all settled in that area.
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Cryotosensei
09 Jul 2023
Blogger at diaperfinancingfund.blogspot.com
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Hello there,
ā
Same thoughts here with Elijah, I think it will be wise to transfer all balances from Ordinary Account to Special Account. As your annual interest for funds in the ordinary account (OA) will increase from 2.5% to 4% in Special account.
ā
Will be better to use your own cash/savings to invest, leaving the retirement amount to compound with 4% per year.
ā
*I help individuals to achieve financial freedom, contact me at https://linktr.ee/LouisLuiyuze if you need help with your finances. Cheers!
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Elijah Lee
10 Jan 2022
Senior Financial Services Manager at Phillip Securities (Jurong East)
Hi anon,
ā
Personally I'd just transfer my OA to SA in this scenario. The faster you build your SA...
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If you wish to invest with EndowUs, it's better to use your OA money because the 4% interest rate for SA is already quite substantial. No point risking your SA money for potentially higher returns.