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Category Archives for Financial Planning
MAS Mystery Shopping Exposes Gross Deficiency
Back in October 2011 to December 2011, MAS conducted a mystery shopping survey on the financial advisory process of banks and insurers. In case you are not aware, a mystery survey is an undercover exercise which involves people posing as “fake” customers to test how someone provides a particular service. For this particular survey, the […]
Economic Bias in Financial Planning
And so, another top honcho from an insurance company has voiced his concerns about moving to a fee-based financial planning model. He thinks that the need for fees may lead to people being even more under-insured. Ever since FAIR was announced, there have been many views exchanged about what is best for the industry (and […]
SMRT Increases Early Travel Discount to Fifty Cents
With effect from Monday, 6 August 2012, SMRT will increase the current ‘Early Travel’ discount to fifty cents. This is an increase of twenty cents from the current 30 cents. When the scheme was first introduced in 1997, the discount was only ten cents. This was increased to the current thirty cents last October. The […]
CPF Housing Quiz
Here’s a chance to test your knowledge about housing and housing related CPF matters. CPF is running a CPF housing quiz where you can stand to win some vouchers. The contest closes on 25th June 2012 and the winners will be announced on 27th June 2012. You can submit as many entries as you like […]
CPF Minimum Sum to be Increased
CPF members who turn 55 between 1 July 2012 and 30 June 2013 will need to set aside a Minimum Sum (MS) of $139,000. This works out to be a 6.1% increase from the previous Minimum Sum of $131,000. The MS has been adjusted over the years to account for inflation, longer life expectancies and […]