Sunday, November 6, 2016

Time to Top Up CPF and SRS

Cannot believe that the year is almost coming to a close. Anyway, it is the time of the year to stay putting my finances in order again. And one of those tasks is taking what available spare cash I have to top up my CPF Special Account under the retirement sum top up scheme. Just maxed it out to $7000 since that is the max I can claim tax relief for.

The next step will be to top up my own SRS account as well as my wife's CPF account. All these helps to reduce the taxes that I need to pay. If you all me, I think it is almost a no-brainer that this should be one of the basic steps in retirement planning in Singapore.

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