I have briefly touched on this interesting topic when I delved into CPF earlier this year. As we arrive at the mid-year mark of 2021, perhaps you have made up your mind to accelerate your financial progress. The CPF Investment Scheme (CPFIS) is definitely something you can consider, as a tool to make your money work harder for you.
First things first, the crucial point to note about this investment scheme under CPF, is that any returns you reap will go back to your CPF accounts. Other requirements are as follows: You should be at least 18 years old; not an undischarged bankrupt; have at least S$20,000 balance in your Ordinary Account (OA) and S$40,000 in your Special Account (SA).
Source: https://www.cpf.gov.sg/Assets/members/Documents/CPFISInvestmentProducts.pdf
*Investible savings – the sum of your OA balance and the amount of CPF you have withdrawn for investment and education.
Now before you go ahead and put all your money on the latest trending stock, bear in mind that you can only invest in very specific products. Full details can be found in the link at table above.
Investment comes with risk. Before you make any new investment decisions, make sure you know your risk profile and time horizon, and that you are well informed of the pros and cons.
Having the sound advice of a professional consultant can help you find the clarity you seek.
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