There is an article in the Sunday Times today on how to maximize the use of your CPF.

Let me summarize the key points and share with you a tip on how to reduce your tax bill while doing something which you do anyway. 

Key Points

  • CPF OA earns a guaranteed interest rate of 2.5% and can be used for housing, investing, education and approved insurance.
  • CPF SA and CPF MA earned guaranteed interest rate of 4%.
  • The first $60,000 of your combined CPF earns an extra 1%.
  • When you turn 55, a Retirement Account will be created and you will need to transfer the minimum sum in and for me, that will be $155,000.
  • You can enjoy tax relief of up to $7,000 if you contribute cash into your own CPF SA and another $7,000 if you …