MA and SA both earns attractive risk-free interest rate of 4% and we will also receive tax relief when we top up these accounts. So the question is, which one to top up first?
If you have decided to top up either of these account, this video is for you. I will be sharing 3 reasons why I prefer topping up SA to MA.
Changes for CPF Top-up (wef 1 Jan 2022):
From 1 January 2022, members can enjoy $8,000 tax relief, up from $7,000, when they top up their own CPF account in cash. Enjoy another $8,000 tax relief when they top up for their loved ones. This cap in tax relief is applicable for top-ups to Special, Retirement and MediSave accounts.
