Dear Mr. Tan,
My wife was a home maker for most of your life. She does not have adequate savings in the CPF. While most people like to take out their money from the CPF as early as possible, I encourage her to put her savings in the CPF as it gives an interest rate of 4% per annum, which is much better than interest from the bank.
My question is - how can she top up her CPF savings? She prefers to transfer the savings from her bank account into the CPF special account to reach the maximum allowed. How do we find out what is allowed, as it is quite complicated.
Ask your wife to bring her NRIC and check book and visit any of the CPF branches. They have branches in the major housing estates. Make an appointment or just go and queue up. The staff will be able to advice her on the amount that she can top up, and also explain the restrictions and withdrawal options. The staff will also help her to fill up the required forms. She only need to write the cheque.
If she cannot pay on the same visit, she can come back another day to make the payment.