Cpf amendment bill 2021
1 page - 596.6 KB
Tax relief cap for rstu and vc-ma givers: combined; and raised to. $8,000 for top-ups to self and. $8,000 for top-ups to loved ones.
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CPF AMENDMENT BILL 2021 SIMPLIFIES CPF FOR MEMBERSRetirement Sum Scheme (RSS) members:Ordinary Account (OA) and Special Account (SA) monies streamed out automatically after Retirement Account (RA) is depletedCPF LIFE members:RA inflows automatically results in higher CPF LIFE payoutsNo changes to withdrawal rules and payout agesEASIER FOR MEMBERS TO RECEIVE RETIREMENT PAYOUTS1For more information, visit cpf.gov.sg/CPFAAGivers to receive Tax ReliefTax relief cap for RSTU and VC-MA givers: Combined; and raised to $8,000 for top-ups to self and $8,000 for top-ups to loved onesMr JPlan ahead for his VC-MA top-upsContribute up to $13,000 to his MediSave Account for healthcare needs.VC-MA Top-up LimitVC-MA top-up limit based only on prevailing Basic Healthcare Sum, no longer need to check the Annual LimitWith the simplification of VC-MA top-up limit, Mr J can EASIER FOR MEMBERS TO BUILD UP THEIR RETIREMENT NEST EGG2By simplifying the rules of Retirement Sum Topping-Up (RSTU) and Voluntary Cont...
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