facebookAssuming FRS is not hit and no cash top ups have been performed to either. For both the purpose of tax savings and saving for retirement, should you do cash top up to CPF SA or SRS account first? Why? - Seedly
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Anonymous

28 Jul 2020

Assuming FRS is not hit and no cash top ups have been performed to either. For both the purpose of tax savings and saving for retirement, should you do cash top up to CPF SA or SRS account first? Why?

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    What are your thoughts?

    Do $1 top-up to SRS now (to lock in retirement age) or end of year when banks have promo.

    Depends on where you going to invest your funds later.

    CPF
    4% guaranteed
    Narrower scope of investment
    Cannot withdraw until 55

    SRS
    Wider selection of investment tools available
    Able to withdraw with 5% penalty and add into tax for the year

    Some pro and cons I can think of.

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