CPF – Page 10 – Theory of Constraints

CPF Balances Update – September 2019

It is the end of September and all contributions are in for the month. MA has reached the 2019 Basic Healthcare Sum (BHS) of $57,200 and the excess from contribution overflowed to SA. OA to SA transfer for the month of September is also completed. SA balance currently stands at $79,778.09.

Kick-start my baby’s Ordinary Account with her Child Development Account

At the 2016 Budget announcement, all Singaporean children born from 24 March 2016 onwards will receive an initial Baby Bonus First Step Grant of $3,000 in their Child Development Account (CDA). I shall not dwell too much in the usage of the CDA. In addition, the government did a Dollar-For-Dollar Matching for up to $3,000Continue reading “Kick-start my baby’s Ordinary Account with her Child Development Account”

Never too late to compound your SA and save on taxes

I started Retirement Sum Topping-Up Scheme (RSTU) or topping up my child’s SA in Sep 2019. Working out the sums, I have seen how small contributions over a long period of time could substantially snowball into a big sum. What if I look further beyond the OA to SA transfer and also do a cashContinue reading “Never too late to compound your SA and save on taxes”

Power of compounding your child’s SA from young

All Singapore Citizen newborns born on or after 1 January 2015 qualify for the enhanced $4,000 MediSave Grant for Newborns. This means that each Newborn kick-start their lives on this world with $0 in their Ordinary Account (OA) and Special Account (SA), and $4,000 in their MediSave Account (MA). Wow! This is a great startContinue reading “Power of compounding your child’s SA from young”

Maximising my CPF returns while I am young

The Central Provident Fund (CPF) is a comprehensive social security savings plan for retirement years. It is a tool whereby one can carry out home financing, healthcare financing and lifelong income with the end goal of a secure retirement. Those who hates it laments about it, while those knows how to work it as aContinue reading “Maximising my CPF returns while I am young”