facebookWhat are your thoughts on full time job with no CPF contributions? I am a fresh graduate and I would want to settle down in about 3 years. Do you think putting in your own CPF contribution is needed? - Seedly

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Anonymous

31 May 2021

CPF

What are your thoughts on full time job with no CPF contributions? I am a fresh graduate and I would want to settle down in about 3 years. Do you think putting in your own CPF contribution is needed?

Is putting in your own CPF contribution is needed?

Discussion (3)

What are your thoughts?

Chris

Chris

31 May 2021

Level 14·Owner and Writer at Tortoisemoney.com

Do you mean being self-employed? If you're self-employed, you'll have to make mandatory contributions to your CPF-MA if you earn above $6,000 per year. If you're asking if you should make regular contributions to your OA to prepare for housing payments in the future, I think it's not necessary. However, I do think it's beneficial. This is because it helps you to:

  1. Save up for your house (prevents you from spending hehe)

  2. Earn 2.5% interest rate (which is much better than any bank account, cash management solution out there)

  3. Keep your money safe

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