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Category Archives for Financial Planning
Bringing the Financial Advisory Industry to Greater Heights
Yesterday, the Association of Financial Advisers held their annual congress. An executive director from MAS was there to give the opening address. She spoke about the state of under-insurance in Singapore, and how Singaporeans were not always receiving quality advice. The vision for the financial advisory industry in Singapore is for financial advisers to be […]
Public Consultation on Parent Relief Claim
According to IRAS, there are about 3000 cases of siblings quarreling over their parent relief claim every year. The Inland Revenue Authority of Singapore (IRAS) is conducting a public consultation exercise to gather views from members of the public on how parent relief should be allowed. The exercise will run from 13 Jun to 26 […]
CPF Nomination for Medisave
Question: A friend just emailed me that a separate nomination is required for the Medisave account in CPF. This is in addition to the nomination in our Ordinary Account. Would you be able to confirm this? I could not find any info in CPF. Answer: This shows the items that are covered and not covered by CPF […]
Increase in CPF Minimum Sum, Medisave Minimum Sum and Medisave Contribution Ceiling from 1 July 2013
CPF members who turn 55 between 1 July 2013 and 30 June 2014 will need to set aside a higher Minimum Sum (MS) of $148,000 in their Retirement Account (RA). The MS for 2012 was $139,000. The CPF Minimum Sum actually stood at $80,000 in Jun 2004. The original plan was to increase it to […]
Loan Restrictions Lifted Temporarily for Purchase of Pre-Existing Stock of Used Cars
It appears that the sudden implementation of the car loans restrictions was too hard for the industry to swallow and MAS has to give some concessions now. As a result of the appeal by used car dealers, MAS has decided to lift the loan restrictions on car loans for a period of 60 days for […]