What are the pros and cons of opting out of the community fund? E.g. CDAC: $1/month, ECF: $9/month? - Seedly

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Asked by Anonymous

Asked on 27 Jun 2018

What are the pros and cons of opting out of the community fund? E.g. CDAC: $1/month, ECF: $9/month?

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Loh Tat Tian
Loh Tat Tian, Complex Manager at Ocean Ifm Pte Ltd
Level 6. Master
Answered on 20 Sep 2018

Maybe people has yet to find out what CDAC does. I would suggest for you to go and find out ECF and CDAC. From what I know, they may deny benefits (which I believe most posters aren't even aware if they say no cons to opt out)

Off-Hand I can remember is, you will not be able to apply for scholarships, nor receive help from CDAC (or subject to lots of scrutiny), simply because you opt out of it.

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Good Day Every Day
Good Day Every Day
Level 6. Master
Answered on 20 Sep 2018

Don't think of pros and cons. Think how your $1 could make a difference to the lives of others. Contribute from the heart.

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Your dollar contribution helps students ! I got subsidies When I was a kid plus it give you tax rebates so i think it is good to contribute

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Amanda Phua
Amanda Phua
Level 3. Wonderkid
Answered on 01 Jul 2018

I tried doing a research and don't see any cons of opting out. So definitely you will save more after opting out!

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Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 4. Prodigy
Answered on 03 Jun 2019

For community fund such as CDAC, if you opt out:-

Pro is you saved $1 per month. Congrats.

Con is you missed out a tiny chance to help out some one who needs it.

Smile and cheer that you done a good deed!

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Nicholas Chan
Nicholas Chan
Level 5. Genius
Answered on 20 Sep 2018

Cons: U lose the 2.5x tax benefit. Pros: u help the less privilege

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Yong Kah Hwee
Yong Kah Hwee
Level 6. Master
Answered on 20 Sep 2018

cons: bad karma :(

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Gabriel Tham
Gabriel Tham
Top Contributor

Top Contributor (Jun)

Level 8. Wizard
Answered on 27 Jun 2018

No Cons. Only pros. You save that extra $$. Its not just $1 actually, as your income increases it also increases.

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