Tuesday, August 28, 2007

Top up special account of family members

I read that it will soon be possible to top up the CPF special account of family members and siblings. This can be done before or after they reach age 55.

This is an excellent idea. The money in their special accounts can earn an attractive interest rate, and also ensure that they have an adequate income for their future.

More details will be announced in Parliament soon.

2 comments:

. said...

Will this be a good avenue to reduce estate duty, if the folks top up to their siblings' CPF?

Anonymous said...

Does this mean that a parent can top up the CPF for a child below 21? If so, then it can be used to purchase those CPF related insurance like DPS. Can anyone confirm this and what other CPF insurance schemes can be purchased by the child.
Thanks

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