How much money can I deposit into CPF at one time with self contribution?

Hi anon,

Here is a quick and easy way to check how much more voluntary contributions (VC) you can make. It's from the CPF website. Note that this applies to direct Medisave contributions as well. Note certain criteria (in bold, emphasis mine)

1. Go to CPF website Services e-Cashier

2. Key in your NRIC number, select ‘Member’ and either ‘Contribute to my three CPF accounts (Non-tax deductible)’ or ‘Contribute to my MediSave (Tax deductible*)’ and click ‘Next’

3. Enter the verification code displayed and click ‘Next’

4. Accept the Terms and Conditions and click ‘Start’

5. Click ‘Check Allowable Contribution’

6. Key in your SingPass ID and Password and click ‘Login’

7. Key in the 6-digit OTP and click ‘Submit’

You will see a message on the amount you can contribute. This result is valid only if you do not receive any other contributions before the end of the year. Furthermore, if there are other contributions being processed before your VC payment, the VC may exceed the CPF Annual Limit/Basic Healthcare Sum(BHS) and will be refunded without interest. Do note that Mandatory Contributions (MC) made by employers take precedence over VC when determining any excess above the CPF Annual Limit. You need to take into account the total amount of MC that you would receive for the year before computing the amount of VC you can make.

In short, you can dump money in if you wish, but if the total contributions to all 3 accounts or to medisave account, at the end of year exceed the CPF annual limit, you will be refunded the excess without interest.

For SA, you can contribute up to the prevailing FRS for you or your parents/spouse/siblings/grandparents/in-laws, but only the first $7000 will have tax relief for your self, and another relief of $7000 for your other loved ones, subject to certain criteria.

For MA account specifically, the maximum amount allowed is the prevailing Basic Healthcare Sum.

You will need to first calculate the difference between the CPF Annual Limit of $37,740 and your mandatory contributions of 37% (20% employee, 17% employer), if you are below 55 years of age.

After finding that amount, if you would like to get tax relief for your voluntary contributions, it is max $7000 if you top up to your own SA. Another $7000 if you top up to parents or spouse RA/SA.

Also you can top up to your MA for tax relief subject to the basic healthcare sum/CPF Annual Limit.

https://www.areyouready.gov.sg/YourInfoHub/Page...