CPF

Budget 2015 – What this means now for your CPF?

Budget 2015 impact on CPF

Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam announced certain enhancements to the national savings scheme in his Budget speech in Parliament on Monday (23-Feb-2015). The following are the summary of changes to the CPF as follows (starting from Jan-2016),   Singapore Budget 2015 Impact on CPF: Key Takeaways: Increased CPF Ceiling. The CPF salary ceiling will go up to S$6,000, from …

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Retirement Planning Singapore – How effective is the SRS Account?

Retirement Planning - How effective is the SRS Account

The SRS Account as a retirement tool in my view is restrictive but may be used to good effect if (a) you have sufficient liquidity already; and (b) certain financial products that are part of your investment strategy are similarly eligible forms of investment under the SRS scheme.  Therefore, you may enjoy beneficial tax savings as well as still being …

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Retirement Planning Singapore: Using your CPF SA Account to retire with $237,138 more!

Retirement Planning Singapore

“Potentially $250,000 more in your account for retirement! Just by using your CPF to your advantage” By following the below, you can, Retire with almost $250,000 more. With a steady contribution of a mere $70,000 saved regularly over a 10-year period (about $7k additional contribution a year), you can potentially enhance your retirement with $250,000 (more than 3 times of what is saved) …

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Retirement Planning Singapore: What do you need for retirement?

Retirement Planning Singapore

In our retirement planning, we are often underestimating substantially what we need for our eventual retirement that could cost substantially more than what we think we would require in today’s terms as follows, Retirement in Multiple of the amount you think you require now 10 years 1.4x 20 years 1.8x 30 years 2.5x 40 years 3.3x 50 years 4.4x   …

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