Friday, October 21, 2011

Top-up CPF account

CPF took an advertisement to advice members to top-up their CPF account (for themselves and their family members). I responded and tried to do it at their website. My experience is shown in this report, which I sent to the Ministry of Manpower. My findings:

1. The CPF online process has bugs.
2. The administration charge is too high.

I hope that our Government will wake up and sort out the shortcomings and over-charging!


Tan Kin Lian said...

I might have been confused about the eNETS administration charge for "credit". I do not know what this is really about, and why it is shown in the CPF website. There seem to be a separate charge for "debt" which is not so high. Well - this is Singapore - things are so complicated.

Anonymous said...

Why would anyone want to top the cpf, since it means putting liquid cash into an account that made it illiquid.

yujuan said...

Agree with above comment, no logic.
Maybe some people like the interest returns, but it's money you could see and could not touch.
Rather use the money to invest in shares, say the STI index shares suggested by TKL, if needed, you could cash in anytime.

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