What are the charges involved when investing with CPF? What is the cheapest method?
I’m trying to figure this out. I’ve opened a CPF investing account through DBS, but have no other services under them. My trading account is with Phillips. Also just opened another trading account with StanChart, for US stocks.
Supposedly I want to buy Shares (say DBS or SingTel) with my CPF, what is the cheapest way, for approx $5000 each share? Should I opening an account elsewhere?
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Jonathan Chia Guangrong
30 Dec 2018
SOC at Local FI
You need to link your CPFIS account to your Philips broker. Then you can buy shares using your CPF OA funds, subject to the CPF limits. No need to open another account elsewhere (you can only have one CPFIS account anyway). Select CPF instead of cash when doing the buy order. Hope this helps
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When you invest your CPF under CFPIS, there will be a reduction in the sales charge for new purchases of CPFIS products from 3 per cent to 1.5 per cent from Oct 1 2018. The sales charge will be removed entirely from Oct 1 next year. You can take a look at the other charges in the document below.
https://www.cpf.gov.sg/Assets/members/Documents...