February 2024 BTO Sales launch Guide: Bedok, Choa Chu Kang, Hougang, Punggol, Queenstown, And Woodlands
Update: The February 2024 BTO Launch is now open for applications until 28 February 2024, Wednesday, 11:59 PM HDB recently announced that from 2024, there will only be three Build-To-Order (BTO) sales launches per year instead of four and will consolidate the Sale of Balance Flats (SBF) exercise to one per year instead of two. […]
6 CPF Changes Announced In Budget 2024
Budget 2024 came with some changes to CPF rules, and this will affect how Singaporeans take it into account to plan and save for retirement. Here is a quick summary to the CPF changes that will take effect from 1 January 2025. #1 Special Account Will Be Closed At Age 55 Previously, the Retirement Account […]
Guide To The Majulah Package: Earn & Save, Retirement Savings Bonus, And Medisave Bonus
A $7 billion Mujulah Package was first introduced during the National Day Rally 2023. It was meant to benefit about 1.4 million older Singaporeans, including “young seniors” who were born in 1973 or earlier, especially those born in 1960 to 1973. Following Budget 2024, additional support under the Mujulah Package was announced to benefit about 1.6 […]
4 Support Packages From The Community Link (ComLink+) Scheme, A Financial Initiative That Gives A Leg-Up To Low-Income Families
The ComLink+ Scheme falls under the umbrella of reducing income inequality and boosting social mobility under the Forward Singapore report. Measures to support families to send their children to pre-schools, secure stable jobs with payable CPF, and financial motivations to buy their own homes. About 14,000 families on the existing ComLink scheme are eligible for the new […]
Step By Step Guide To Top Up Your CPF Matched Retirement Savings Scheme (MRSS)
During Budget 2020, the Singapore Government launched the Matched Retirement Savings Scheme (MRSS) to encourage and support seniors to meet their prevailing basic retirement sum (BRS). Under the current scheme, eligible seniors aged 55 to 70 will get dollar-for-dollar matching under the CPF Retirement Sum Topping-Up (RTSU) up to an annual limit of $600. This matching […]
Here’s The Salary You Need To Earn To Afford These Homes In Singapore [2024 Edition]
With the overall property market in Singapore continuing to remain strong in 2023, many of us who are still looking to have a roof over our heads may be wondering whether we could still afford that dream home that we are coveting. Though we should be looking holistically when deciding on the affordability of the […]
Local Qualifying Salary: 5 Things You Need To Know About LQS (And Whether It Is A Minimum Wage For Singapore Workers)
The introduction of a local qualifying salary is one highlight from Prime Minister Lee’s National Day Rally 2021 speech that caught public attention. Many netizens jumped on board to laud this change as a new minimum wage for Singapore workers. From a relatively obscure technical term that was used by Ministry of Manpower (MOM) and […]
CPF Shielding Hacks (Special Account & Ordinary Account): Do They Really Make Sense?
One popular CPF strategy for those who are just about to turn 55 is the CPF Shielding Hack. Using this hack, pre-retirees can earn more interest returns, while retaining greater flexibility in using their CPF balances in their older years. However, all this is set to change from 2025. Apart from having a new Retirement Account opened […]
6 Sectors That Will Be Impacted By The Budget 2024 Announcements
During his Singapore Budget 2024 speech, DPM Lawrence Wong painted a mixed economic outlook for 2024. GDP growth in 2024 is expected to be between 1% and 3% – potentially higher than the 1.1% growth in 2023. Underpinned by receding inflationary pressures, growth in major economies is expected to remain resilient this year. In turn, […]
Why Removing The CPF Special Account For Members Aged 55 & Above Is The Right Move
In the Singapore Budget 2024, Deputy Prime Minister and Finance Minister Lawrence Wong announced a significant change for CPF members aged 55 and above: the discontinuation of the CPF Special Account. This change is particularly relevant to Singaporeans, as most have a CPF account. Under the current system, when CPF members reach the age of […]
