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Anonymous

15 Mar 2022

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Should I voluntarily top up/self contribute for my CPF if I am working overseas?

Hi there! I would like to please hear some of your thoughts on whether it is advisable to top up/self contribute my CPF vouluntarily. My current situation would be:

Have less than 10k in total now in my CPF (worked in SG brielfy during my early 20s before i headed to work overseas)
No plans of giving up my SG citizenship in the long run
Would want to purchase a home in SG in future, even if I settle down overseas
Able to take out up the 500 SGD monthly to top up CPF if needed. However, it feels too little if I want to hit the minimum Retirement Sum at age 55 and above (as of the age stated by CPF now)

I would really appreciate any of your thoughts if it is advisable that I top up/self contribute for my CPF. Thanks!!

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Just_Saying

18 Mar 2022

If you are in your 30s, i believe the topping up CPF is still beneficial. the CPF life is still a good annuity plan to offset some retirement expenses, apart from the 5% you getting in SA. But if your in your 50s, i feel that it does not make alot of difference.

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'Voluntary CPF contributions does not count towards the 3 CPF Retirement Sum'. So this just means that we have to continue working and rely on the monthly mandatory CPF contributions from our jobs?

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