Read? Top Up CPF SA From CPF OA? Depending On Who You Ask! (8)
To grow your CPF SA faster; two ways to do it ...
(1) Collect 1.5% more interests from Government by top up CPF SA from CPF OA.
(2) Get your employer to contribute more by focusing on your job through promotion, higher salary, and higher bonuses. Your employer's contribution to your CPF SA can help you to grow at faster rate than 1.5% from the Government and depending on your age group; your employer is helping you to top up your CPF SA from 2.8% to 3.7% for every dollar you earned from your job.
See for yourself ..
Indeed the more you earn, the more your CPF contribution.
ReplyDeleteHowever, there is a cap of CPF contribution. In the past, the cap is $5K and change to $6K at the beginning of 2016.
Naughty fisherman ;)
ReplyDeleteI like both of you. How?
I'll put one feet closer to your side even though we have been at loggerheads since forever... LOL!
Why?
I'm on the Earn More camp.
Of course, if we want to be politically correct and be loved by everyone and anyone, I would do the cop-out thing by saying, "Do both!"
The more interesting thing is after 55, our investments/cash flows not only have to beat inflation, we have to overcome the CPF "pay-cuts" :(
How?
My fearmongering powdeful?
So must attend my 2 seconds seminar on how to get financially free before 55 with minimum money outlay and time employed!!!
Ready?
Buy $1 Toto quick-pick every draw. Max $2 per week; less than Starbucks coffee!
ToTo is my Dream Money. :-)
DeleteThough cap at $6,000. Don't forget bonuses plays a part to CPF contribution and also once your CPF Medisave Account reach its limit at $49,500, the excess will go to your CPF SA.
ReplyDelete