facebookAssuming FRS is not hit and no cash top ups have been performed to either. For both the purpose of tax savings and saving for retirement, should you do cash top up to CPF SA or SRS account first? Why? - Seedly
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Anonymous

Asked on 28 Jul 2020

Assuming FRS is not hit and no cash top ups have been performed to either. For both the purpose of tax savings and saving for retirement, should you do cash top up to CPF SA or SRS account first? Why?

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CL

Chuan lee

Level 6. Master

Answered on 28 Jul 2020

Do $1 top-up to SRS now (to lock in retirement age) or end of year when banks have promo.

Depends on where you going to invest your funds later.

CPF

4% guaranteed

Narrower scope of investment

Cannot withdraw until 55

SRS

Wider selection of investment tools available

Able to withdraw with 5% penalty and add into tax for the year

Some pro and cons I can think of.

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Thank You!
Can you clarify
I wonder if
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