Anonymous

26 Sep 2019

∙

Is there any fall-below fee for the SRS account if I decide to open it with $1 just to lock the age of penalty-free withdrawal at 62yo?

If so, is there any ways to work around it?

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Hariz Arthur Maloy

15 Sep 2019

Independent Financial Advisor at Promiseland Independent

Nope, no fall-below fees. :) You can keep that $1 throughout.

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My son is 18yo, with the retirement age likely to revise to 67yo, is it wise for him to open the SRS account now to lock the 62yo withdrawal? Thanks?

Understand that topping $1 to the SRS account effectively locks in our retirement age at 62. However what does this really mean? Is there any impact on our CPF withdrawal age?

Since Standard Chartered Jumpstart has no minimum balance, can I withdraw all my money after 1 July and leave the account open? Will there be any penalties?

I have missed the bank SRS account opening promos. Should I wait till next year? As the retirement age is still 62 even if I open SRS account in 2021?

Is there any no fall-below fee multi currency account? For DBS multiplier fall below amount is 3K and too high. Secondly, once I have a multipler account can I deposit USD cash without any fees?