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Avoiding CPF?

Discuss about getting a well paid job or career advancement. Ask about salaries, expat packages, CPF & taxes for expatriate.

kc01
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Avoiding CPF?

Postby kc01 » Mon, 09 Aug 2004 6:05 pm

Hi all,

I am about to get PR in Singapore and read somewhere that it is possible to get around paying CPF by paying directors' fees twice a year or something. Does anyone know what that is all about?

Thanks

kawaguchi
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Joined: Fri, 20 Aug 2004
Location: Singapore
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Your Local Financial Adviser

Postby kawaguchi » Fri, 20 Aug 2004 1:07 am

It does not help. It all goes down to the contribution rate you are under.

I guess your point of avoiding the CPF is for a higher immediate cash needs? CPF is actually a government retirement plan to "force" you to save for your future even if you are not even one bit interested in planning for retirement. Different CPF contribution rates are offered for different classes of people(Employees, Self-Employed etc

I am a financial adviser. Can always give me a call at +65 91884505 for an appointment if you need help on your financial needs and planning.


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