facebookWhat is the yearly limit that you can do cash top up to family member's cpf? - Seedly

Advertisement

Anonymous

20 Dec 2019

SeedlyAMA

What is the yearly limit that you can do cash top up to family member's cpf?

How much can I top up my family member's CPF per year? what's the maximum limit and is it recommended that i do this?

Discussion (7)

What are your thoughts?

Learn how to style your text

Cedric Jamie Soh

20 Dec 2019

Director at Seniorcare.com.sg

$7000 SGD per year of assessment is the limit

The maximum CPF Cashtop-up is $14,000 (maximum $7,000 for self, and maximum $7,000 for family members).

The annual limit for mandatory + voluntary contributions is $37,740. So the max you can top up for your family should be that amount minus any mandatory contributions they had.

That said most people top up for the tax relief and the cap would be 7k a year (as mentioned by others).

Do note that you can also transfer your cpf. So if you want to contribute more than 7k you can choose to transfer some as well.

Bjorn Ng

19 Dec 2019

Business Analyst at 10x Capital

You can top up $7,000 per year! You can also get tax relief for it. However, do take note that if yo...

Write your thoughts

Advertisement