Anonymous

18 Apr 2019

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How does topping up CPF to retirement account work?

What is the minimum sum (if any) before cash payout via CPF takes place and what are the pros and cons of the CPF retirement account as compared to other financial products for retirement?

I understand the interest rate is good for CPF retirement account but I'm not sure if I should do a top up into my parents' retirement account.

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Jeff Yeo

17 Jul 2018

amateur Social contributor at School of social sharing

Providing an alternative view

topping up Your parent’s CPF Acc is a good choice as it helps reduce your Tax

SRS is an option to also consider because it can help reduce your overall Tax the money placed into SRS can then be used to buy insurance or placed into investment like stocks/units trusts etc

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Randall Tan

11 Jul 2018

Coffee boy at Century Piano

https://www.cpf.gov.sg/Assets/members/Documents...

This booklet will answer most of your questions.

https://www.areyouready.sg/YourInfoHub/Pages/Ne...

Here are the reasons to top up your parent's retirement account.

Hope it helps, feel free to comment!

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Related Posts

My MIL 79 years old this year, her CPF Retirement account almost empty. If I top up her account using cash as allowance, which scheme is better? The Retirement Sum Scheme or CPF life scheme?

My mum is 70 y/o this year and still working. At her age, is it still advisable to do TOP-up to her cpf account? Separately, what can I do TOP up to her Medisave account?

Noob question here.. my mom is 60 yo and has 40k in CPF only in retirement account. Can I top up to her CPF by cash or transfer from my CPF to her so that she has enough to "cash out" her CPF?

Other than adding cash to the till, how will topping up one’s spouse’s CPF Account benefit non-working spouses with low CPF balances?

Should a person who just started working and earning appx $4k top up his/her CPF account to pay lesser income tax in FY2020?