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  • 16 February 2024 Brian Taylor suggested this task

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    Singapore has a retirement investment account called a CPF. CPF is deducted from the paycheck.

    CPF has 4 sub accounts, Before 55: - Ordinary Account - Special Account - MediSave Account

    After 55, the special account is converted to a ‘retirement’ account.

    base interest rates are as follows: CPF account Interest rates Ordinary Account 2.5% Special Account 4% MediSave Account 4% Retirement Account 4%

    There is a bonus 1% on the first 60K SGD as noted here. https://www.cpf.gov.sg/member/growing-your-savings/earning-higher-returns/earning-attractive-interest

    The rates vary slightly per year so it should be editable.

    CPF is untaxed.

    16 February 2024
  • 16 February 2024
  • 16 February 2024 Kyle Nolan approved this task

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    I also need this feature. I’ve tried working around this by modeling the CPF sub accounts into 3 US 401k accounts, but I’ve found that they are insufficient.

    For example, CPF Ordinary Account (OA) can withdrawn from to pay for housing without penalty under specific conditions, which can’t be modeled using the 401k allow early withdrawals at 0% penalty, since the plan will then try to withdraw from the account at any point income is needed.

    Additionally, money used in the CFP OA to purchase a HDB lease must be returned back to the CFP OA upon sale of the property, which I noticed doesn’t seem to work when specifying a sale of the property routes directly to the 401k account (likely because this flow is not possible in the US)

    25 January
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    Also need to add a “no tax” checkbox for basic banking accounts etc

    17 August