Anonymous

21 Dec 2020

∙

To earn compound interest for MA and SA since Jan 2021, when must the top up reach the account?

Is it this month instead of Jan? I remember reading about lowest balance in the month, so if Jan top up does it mean the compound interest for this top up value will come only in Feb?

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Wrong Sean

21 Dec 2020

Any voluntary contribution will earn interest on the following month.

But if you want to claim tax relief for this year, you have to do it this month. If you top up in Jan, the tax relief calculation will be for YA2022.

https://www.cpf.gov.sg/members/FAQ/schemes/othe...

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If my SA account has reached FRS balance (181k for this year). For tax relief next year, should I top up cash $7K to SA or OA by Dec 2020 or Jan 2021?

If my MA account has $60K as at 1 Jan 2021 and BHS is $63K, and I make a top up of $3K on 1 Jan 2021 to hit BHS. Will this $3K top up be eligible for tax relief?

Age 35. OA: 50K, SA: 200K, MA: 65. Can i still do RSTU to get tax relief of $7k? Can i still do VC (there is no cap for VC right?) If i do VC, will whatever amount i top earn earn interest?

I have hit my Medisave cap and my SA has 60k. How Long more must I continue to do a voluntary SA top up to reach the FRS and let it compound?is it true that if I contribute in January it is better?

For CPF, after age 55, can top-up any amount in SA account to earn the 4% interest rate, eg $50k? And afterwhich can withdraw any amount anytime? Or have to top-up just below age 55?