A few days ago, the Monetary Authority of Singapore (MAS) released a consultation paper on proposed changes to credit card and unsecured credit rules. The changes are aimed at improving financial institutions’ lending and disclosure practices, empowering individuals to make better borrowing decisions, and helping individuals who are at risk of credit problems avoid getting […]
A study done by two National University of Singapore (NUS) researchers, Associate Professors Chia Ngee Choon and Albert Tsui, has come to the conclusion that “even after allowing for pre-retirement withdrawals for housing finance, the current CPF system is able to provide entrants to the workforce today with adequate retirement savings, as long as members […]
Citibank has launched an interesting service, Citibank SMS Pay, that allows you to make payment to your Citibank’s credit card bills using your handphone. How Citibank SMS Pay works is that you first setup a one-time arrangement for an Inbound Funds Transfer with your preferred bank. This arrangement will authorise Citibank to make deductions for […]
Under the current framework, if you invest into Singapore listed shares using your CPF money, you do not get the full rights during Annual General Meetings (AGM). This is because banks who provide nominee services like DBS Nominees and Citibank Nominees can only appoint a maximum of two proxies to attend shareholder meetings. Thus, you would […]
Have you ever been confused over the various CPF top-up schemes? Currently, a member may top up his Retirement Account (RA) under the Minimum Sum Top Up (MSTU) scheme. He may also top up his RA by making what is known as a Voluntary Contribution (VC). For a top-up to the SA, a member can […]