1. Top up your CPF-SA

If you didn’t already know, doing a voluntary top-up to your CPF Special Account can help reduce your chargeable income up to $7,000. I’ve written previously about why this move not just gives you tax benefits, but with an interest rate of 4% p.a., the compounded interest you earn will also help to supercharge your CPF for your retirement years – check out the article here.

Of course, this is also subject to the CPF Annual Limit, but unless you’re a super high-income earner, it is unlikely for most of us mortals to hit this.

  1. Top up your CPF-MA

If you’d rather not lock your funds up until your retirement age, another alternative can be to top up your CPF MediSave instead, as it offers slightly higher liquidity than your