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 […]
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 […]
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 […]
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 […]
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 […]