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Anonymous
More wise than putting in her bank account?
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Discussion (7)
Tan Choong Hwee
24 Jun 2021
Level 14·Investor/Trader at Home
Is her SA+OA balance near FRS ($186k this year) or BRS ($93k with property pledge)?
The thing is when she turns 55, her RA will be created with FRS from SA first, then OA if SA insufficient. Only after FRS (or BRS with property pledge) met then she can freely withdraw from remaining balance in SA/OA. The money in RA will continue to earn interests, but she will only receive CPF LIFE monthly payouts when she is 65 to 70.
You can help her by topping up her SA to FRS and you get to enjoy up to $7k tax relief.
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