Retirementat Salary.sg – Your Salary in Singapore |
Starting from 1 January 2008, your CPF balances will earn more interests.
Interest Pegging for Special Account, Medisave Account and Retirement Account (SMRA)
The yield will be pegged to 1% + the 12-month average yield of the 10-year Singapore Government Security (10YSGS), subject to a minimum of 4% for 2 years. The yield data is available at [...]
After PM Lee’s announcement on CPF changes, it’s now official. (Well, the annuities scheme is still being studied.)
See this CPF In Touch issue for an excellent summary.
There are 2 ways to withdraw from CPF. Each can be viewed as “easy” or “hard” depending on how you look at it.
Let’s first talk about the more straightforward one:
You work diligently and both you and your employer contribute to your CPF accounts (as mandated by law).
Then at age 55, you can withdraw [...]
PM Lee announced some changes to the CPF scheme during National Day Rally. Subsequently, Manpower Minister Ng Eng Hen divulged further details. I summarise the changes here:
The interest rate for the Special, Medisave and Retirement accounts (SMRA) will not be fixed at 4% anymore. Starting from 1 Jan 2008, the rate will be pegged to [...]
Read the full article at New CPF Interest RatesJuxtapose the profiles of 2 rich men – 1 of whom very rich – and you get some idea of how they grow their money.
Featured in Sunday Times today are decamillionaire couple George Raymond Zage III and his wife Kathleen Zage, and a rather rich insurance veteran Stanley Jeremiah.
Here’s what I gather from the information [...]
In case you’ve forgotten, the employer CPF contribution has just been increased from 13% to 14.5% (effective 1 July).
If your gross income is $4,500 or more, this increase translates to, heh, an additional $67.50 to your CPF accounts each month. In fact, your Ordinary Account will get $45 and the remaining $22.50 goes to your [...]
Minister Lim Boon Heng said yesterday that the CPF Minimum Sum withdrawal age may be raised to 65 (from 62).
Note that you can still withdraw money from your Ordinary and Special Accounts when you reach 55 years old, subject to the rules given on this CPF page.
Example: If you are retiring today and have a [...]
One year after the Medisave Contribution Ceiling (MCC) was adjusted to $33,000, CPF has announced that MCC will be adjusted upwards again, this time to $33,500 effective 1 July 2007.
If your Medisave account balance already stands at $33k, which is the previous cap, you’ll need to “top up” $500.
This can be accomplished in just slightly [...]
The Straits Times reported that Singaporeans are more keen to keep working, with about 60% of those surveyed saying they intend to work as long as possible. The global average is 40%.
The survey report is called “The Future of Retirement” and is compiled by HSBC and the Oxford Institute of Ageing.
I took a look at [...]
In short, the more expensive may not be good, but the higher yield may not be better. When buying properties, you should at least consider the following factors and weigh your options:
Price. Freehold properties are generally more expensive than leasehold properties, due to the fact that the land tenure for freehold properties lasts, well, forever [...]
Read the full article at Freehold and leasehold differences
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