Cpf Special Account Ceiling 2019
Pwhen you reach 55 years old your special andor ordinary accounts savings will be transferred to your retirement account ra up to the full retirement sum frsppyou can choose to set aside a larger retirement sum up to the enhanced retirement sum by topping up your ra using cash or transferring your remaining cpf savings in the.
Cpf special account ceiling 2019. Official cpf article for 2019 bhs here for 2019 the amount has increased by 495 from 54500 to 57200. Cpf special account can be used to invest beyond the minimum balance of s40000 savings in your cpf special account can be used to invest in any of the approved investment schemes below. So my projection of 57000 was off by 200 but not to worry everything is cool. Read about the cpf interest rates for ordinary account special medisave and retirement account.
Cpf special accounts savings cannot be withdrawn before the age of retirement. The first year charted was 2008 and this is the first year that i was under full time employment. For this 10 year special edition i dusted my statements and made nice little charts. But before you do make sure you can get the same or better returns than the maximum 5 interest on your sa account.
At the end of the current year recalculate the aw ceiling using the actual ordinary wages subject to cpf for the year. People would consider this as a better alternative of investing money than stock related instruments and those offered by insurance policies. Pretty sure to carve out good progress towards full retirement sum frs. Cpf oa investments with money in cpf oa getting 25 35 and money in cpf sa getting 4 5 thats a lot of money getting good rates.
I had already shared in my previous blog post my cpf medisave account cpf ma. If a member is above 55 years old and participates in the cpf life scheme. Cpf oa cpf sa. Cpf special accounts interest rate will not be affected by inflation.
Cpf contribution for employees pyour employer is required to pay your cpf contributions every month if you earn more than 50 per month. News release on cpf interest rates from 1 january 2019 to 31 march 2019 and basic healthcare sum for 2019. Cpf contribution for employees. I had gone ahead and added in 2019 since it is a given that it will be achieved.
You can submit the refund form found in my cpf online applications.
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