Reader:
I have been thinking about topping up my mum’s CPF account in order to earn a higher interest for her monies because she currently keeps the allowances me and my sibling gives her at home 😓.. 

I tried to read up online on the CPF schemes but got a little confused along the way. She is 60 this year, and I believe she is not under CPF LIFE, she was given an option to opt in but she did not do so. Thus, this would mean she is under the Retirement Sum Scheme and she has around $91k in her RA. Her FRS is $131k and she can choose to receive monthly payouts when she reaches 65.

I understand that I will be able to make use of the Retirement Sum Top Up Scheme to top up her account and also earn tax relief while I do that …