Hi Guys,
Could you please let me know whether self deposits to Singapore CPF account is possible?
Regards,
VJK
SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
Self deposit in Singapore CPF account.
- singaporeflyer
- Moderator
- Posts: 4147
- Joined: Mon, 17 Aug 2009 9:49 am
Re: Self deposit in Singapore CPF account.
Is possible and it is called as CPF Topup. But be assured it wont help for REP renewal.VJK_SG wrote:Hi Guys,
Could you please let me know whether self deposits to Singapore CPF account is possible?
Regards,
VJK
- sundaymorningstaple
- Moderator
- Posts: 39764
- Joined: Thu, 11 Nov 2004 1:26 pm
- Location: Retired on the Little Red Dot
Re: Self deposit in Singapore CPF account.
In fact, it will send up a red flag that you have been burning the candle at both ends and are now trying your level best to buy your way in. Topping up your CPF doesn't do anything towards being beneficial to the country, it's only beneficial to you. ICA isn't stupid.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers
Re: Self deposit in Singapore CPF account.
There is a benefit to topping up cpf. See below:
https://www.cpf.gov.sg/eSvc/Web/Schemes ... andingPage
https://www.cpf.gov.sg/eSvc/Web/Schemes ... andingPage
Re: Self deposit in Singapore CPF account.
VJK - what are you trying to achieve? You can do cash top ups or if you are self employed you can pay your CPF EE/ER contributions as well.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
Re: Self deposit in Singapore CPF account.
I think the point that OP may be trying to make is that if he has no Singapore source income, any contribution to CPF would voluntary and there are no tax (deduction) benefits associated with it. In such cases, would continuing to contribute to CPF demonstrate his long term commitment to Singapore even if he is not currently living in Singapore? And would that translate into positive consideration at the time of his REP renewal? - Personally, I doubt it because there are plenty of rich people floating around for whom the $40K odd contribution limit is a drop in the bucket and they will gladly do it every year if it will preserve their PR while they are out of SingaporePNGMK wrote:VJK - what are you trying to achieve? You can do cash top ups or if you are self employed you can pay your CPF EE/ER contributions as well.
- sundaymorningstaple
- Moderator
- Posts: 39764
- Joined: Thu, 11 Nov 2004 1:26 pm
- Location: Retired on the Little Red Dot
Re: Self deposit in Singapore CPF account.
GSM8, good thought, but it won't fly. He can put all the money he want into CPF (if her were allowed - must be PR or Citizen only) but that doesn't show commitment to Singapore. Singapore gets nothing out of it at all, in fact it costs them money as the rate of return, risk on risk is one of the best in the world. So all he's doing is feathering his own nest, nothing more. And yeah, you are right, it will not preserve their PR either.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers
-
- Similar Topics
- Replies
- Views
- Last post
-
-
How to Pay Security Deposit if You don't have a bank account?
by shpamee » Tue, 24 Jul 2018 10:54 am » in Property Talk, Housing & Rental - 1 Replies
- 1756 Views
-
Last post by bgd
Tue, 24 Jul 2018 11:50 am
-
-
-
Deposit USD into Bank of America account?
by 18000rpm » Mon, 31 Oct 2022 1:15 pm » in General Discussions - 4 Replies
- 963 Views
-
Last post by PNGMK
Wed, 02 Nov 2022 11:05 am
-
-
-
UK exempts Singapore and Thailand travellers from England's Covid19 self-isolation
by abbby » Fri, 18 Sep 2020 9:11 am » in General Discussions - 6 Replies
- 2183 Views
-
Last post by TropicalExpat
Thu, 24 Sep 2020 10:55 am
-
-
-
PR Application (Self Msian, sponsor son Msian), to sponsor Chinese Hubby also? Dilemma!
by chiaumeigan » Wed, 11 Jul 2018 11:54 pm » in PR, Citizenship, Passes & Visas for Foreigners - 2 Replies
- 2379 Views
-
Last post by svnebh
Sat, 14 Jul 2018 12:14 pm
-
-
-
LTVP self employed, how does it work?
by Triteia » Fri, 03 Aug 2018 8:55 pm » in PR, Citizenship, Passes & Visas for Foreigners - 0 Replies
- 1496 Views
-
Last post by Triteia
Fri, 03 Aug 2018 8:55 pm
-
Who is online
Users browsing this forum: No registered users and 2 guests