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cpf 1st april 2008

How the CPF Reforms Affect CPF Investment Scheme wef 1st April 2008? 26 Mar 2008 From 1 April 2008, you will not be able to invest the first $20,000 in your Ordinary Account and first $20,000 in your Special Account. To invest under CPFIS-OA, you will have to set aside $20,000 in your Ordinary Account before the remaining savings in your Ordinary Account can be used for investments. Similarly, this applies for your Special Account as well. Please refer to the follow website below :- http://mycpf.cpf.gov.sg/Members/Gen-Info/FAQ/Investment/INV.htm NEW! - How the CPF Reforms Affect CPFIS 1) What are the new restrictions on the CPF Investment Scheme (CPFIS) arising from the CPF Reforms? From 1 April 2008, you will not be able to invest the first $20,000 in your Ordinary Account and first $20,000 in your Special Account. To invest under CPFIS-OA, you will have to set aside $20,000 in your Ordinary Account before the remaining savings in your Ordinary Account can be used for investments. Similarly, to invest under CPFIS-SA, you will have to set aside $20,000 in your Special Account before the remaining savings in your Special Account can be used for investments. This restriction is in place because of the extra 1% interest that you will earn on the first $60,000 of your combined CPF accounts from 1 January 2008. However, you can continue to service your regular premium insurance policies (but NOT recurring single premium insurance policies or regular savings plans for unit trusts) and agent bank fees even if your Ordinary Account balance falls below $20,000. If you have already made investments using your Ordinary Account or Special Account balances, you will not be required to sell these investments. 2) If I sell my investments after 1 April 2008, will I be able to re-invest the sale proceeds if my Ordinary Account or Special Account balance is below $20,000? When you sell your investments under CPFIS-OA, the sale proceeds will be credited into your CPF Investment Account. You may re-invest the balance in your Investment Account, even if your Ordinary Account balance falls below $20,000. However, if the sale proceeds is refunded to your Ordinary Account, you may not re-invest the balance if your Ordinary Account balance falls below $20,000. When you sell your investments under CPFIS-SA, the sale proceeds will be credited to your Special Account and you may not re-invest the balance if your Special Account balance falls below $20,000. 3) If there are adjustments under CPFIS in my Ordinary or Special Account, what interest rate will be used? Any adjustments under CPFIS in your Ordinary or Special Account will be based on the CPF interest rates for the respective account. The interest rate will not include the extra 1% interest that is paid on the first $60,000 of your combined balances. 4) Will the CPF Reforms affect my stock and gold limits? There is no change in the computation of your stock and gold limits. However, you will not be able to invest the first $20,000 in your Ordinary Account even if you have sufficient stock and gold limits.

 

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http://www.sharejunction.com/sharejunction/listMessage.htm?topicId=5285 

serence      ( Date: 24-Mar-2008 16:28) Posted: after 1st april 2008 my only 20k still can pay for mortage loan,,???

 

huh? 

serence      ( Date: 24-Mar-2008 16:28) Posted: after 1st april 2008 my only 20k still can pay for mortage loan,,???

 

after 1st april 2008 my only 20k still can pay for mortage loan,,???