Personal Finance
Reaching 55 – Your CPF Investment Account?
By Create Wealth Through Long-Term Investing and Short-Term Trading  •  December 26, 2010
Upon reaching 55, you will have to decide what to do with your CPF Investment Account as you have the option to continue with your CPF Investment Account or close it. So it is for you to decide for yourself based on Cost-wise and Interest-wise. Cost-wise
To close CPF Investment Account and transfer share counters to CDP:
  • One time cost per share counter
  • Central Depository (Pte) Ltd (“CDP”) imposes a transfer fee of $10.70 (inclusive of GST) for every share counter transferred from your CPF Investment Account to your CDP Account.
To maintain CPF Investment Account:
  • Running costs
  • Service Charge: S$2 per counter/unit trust per quarter
  • Transaction Charge: S$2 per 1,000 shares/units or part thereof per transaction, subject to a maximum of S$20
So it is better to consolidate, enlarge and to retain only higher value share counters for the quarterly service charges to be cost-effective. Interest-wise This is ......
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By Create Wealth Through Long-Term Investing and Short-Term Trading
I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016. Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD. I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild. I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038. Cheers!
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