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Tax saving purpose
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Hello, it depends on your reasons for doing so, and if its the best choice for you. this article talks about the pros of topping up the CPF account for your child, you can have a read and see if the reasons are important for you!
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For what? Unless you want to reduce tax, if not no purpose.
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Instead of monthly, I think yearly in Jan of each year would be better.... to enjoy the full year of...
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Only if you have a lot of spare and you don't mind it being "trapped"... there are better ways to invest the money I suppose.