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13 Apr 2012, 4.45PM

3 comments & replies |by REACH Administrator | Learn and Earn

The Central Provident Fund Board’s (CPF) Minimum Sum Topping Up Scheme has been extended to top-ups for parents-in-law and grandparents-in-law.

From January 2013, CPF members can get income tax relief of up to S$7,000 for cash top-ups to the Special or Retirement Accounts of their family members, including their spouse, siblings, parents, parents-in-law, grandparents and grandparents-in-law. Together with cash top-ups into one’s own CPF account, members can enjoy up to $14,000 tax relief.

Apart from cash, members can also use their CPF Ordinary Account savings to do the top-ups, provided they meet the prevailing Minimum Sum.

Read the Central Provident Fund Board’s Media Factsheet

Read the Channel NewsAsia report : "CPF Minimum Sum Topping-Up scheme extended".

1210 views | 3 comments & replies |

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Guest

13 Apr 2012, 5.41PM

Great govt scholarly idea to put more burden on as many of our youngs to support the older generation. Govt shrinking it's responsibility to the elderly.

Nest good idea will be friends also can top up friends parents retirement account.

Guest

13 Apr 2012, 5.45PM

Did any people ever ask the govt to allow us to top up our parent-in-law retirement account? Kaypoh govt causing husband and wife to quarrel unnecessarily over this. Ask them for real help, don't bother, never ask them for this, and Kaypoh like anything and come and cause family trouble.

Guest

22 Apr 2012, 8.39PM

This is a joke. Why is it so many seniors do not have sufficient money for retirement? Didn't the govt say they want to take care of our seniors who have contributed greatly to building this nation??

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