The Central Provident Fund (CPF) was created to help Singaporeans save enough for retirement. Your wages are deposited into three accounts that make up your CPF: Ordinary Account (OA), Special Account (SA), and Retirement Account (RA). One of these, the OA is the account that younger workers will become most familiar with, as it is more than just a simple.
CPF comes from two main contributions, and there are different accounts. Find out how much you and your employer are contributing, and how you can invest your CPF funds.
Congratulations! If you are reading this, you are properly considering buying a home for yourself and your family. As a big ticket item with high long-term commitments, purchasing a house for the first time can be a huge deal, and we want to make the best out of our decision. Housing is getting increasingly expensive. In the second quarter of.
Becoming a homeowner can be a tedious and tiring process. There’s endless paperwork and work to do, from renovation woes to buying home insurance. And for those buying HDB flats, there’s just one more thing you need to know: Home Protection Scheme (HPS). Having existed for two decades, the Home Protection Scheme saw its premiums reduced on July 1, 2021.
When buying a house, some of us would use our CPF savings to pay for our housing loans. But the thing about CPF is that it’s for retirement, so there’s a limit to how much you can use it for housing. Since the limit depends on the Basic Retirement Sum, what happens if your housing loan deductions reach it? Before.