Due to the COVID 19 pandemic, the world economy is slowing.
On the other hand, it may also be a good time for you to review their investment portfolio to see how you can manage it better.
If you are a Singapore citizen or PR and haven’t done much with your CPF Special Account, it may be a good time to start considering using it for investments.
As of 01 Jan 2001, CPF members can use their Special Account to invest in under the CPF Investment Scheme (CPFIS).
You can invest under CPFIS, if you:
- are at least 18 years old;
- are not an undischarged bankrupt;
- have more than $20,000 in your OA; and/or
- have more than $40,000 in your SA.
Any profits from investments using Special Accounts are not allowed to be withdrawn until members reach age 55; and after setting aside the Full Retirement Sum (FRS) in your Retirement Account (RA). The FRS can be set aside fully with cash, or with cash (i.e. at least the Basic Retirement Sum) and property.
The number of investment options available through CPFIS include:
- Unit Trusts (approved funds only)
- Investment-linked Insurance Products (approved funds only)
- Annuities
- Endowment Policies
- Singapore Government Bonds (SGBs)
- Treasury Bills (T-bills)
CPF fund is a useful tool for retirement planning, but you shouldn’t depend entirely on CPF.
Investing in Non-CPF assets is also crucial to your retirement.
If you need advice on investing and/or Retirement Planning, do contact our FLA Organization Financial Advisors for more personalized and helpful information today.
To support the fight against COVID 19, our Advisors provide Non-Face-to-Face Advisory too. WhatsApp or Video call our Financial Advisors from the comfort of your home. Stop Procrastinating. Contact your trusted FLA Organization Financial Advisors for more valuable insights today.
