Anonymous

12 Oct 2020

∙

Can someone at 90 years still contribute 30000 to their retirement account?

My aunt have a fixed deposite due in august but the interest is only .9%, so what is best option for her , she is 90 yrs old and got enough cash for her monthly expenses.

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tinycents

13 Sep 2021

https://www.cpf.gov.sg/Members/Schemes/schemes/... - can see the details here.

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Tan Choong Hwee

12 Sep 2021

Solutions Specialist at Providend

As @Elijah mentioned, top up RA is one way street. Can't withdraw freely, only receiving monthly payouts.

If she has met her retirement sum at age 55, she can do VC3AC (voluntary contribution to 3 accounts) up to annual limit of $37740 (assuming she is not working at her age). She can freely withdraw money from SA/OA if she had met her cohort retirement sum.

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Gina

Edited 12 Sep 2021

Can she top up her OA account? 2.5% interest, anytime can take out. Correct me if I'm wrong....

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