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30-12-2012, 01:14 PM
personally it is a decent deal for me
i did the full 7k personally and also 7k for my mum (who is 70yrs old and umemployed)
so i get tax savings on 14k which is a fair bit.
since my mum is retired, the money goes into her retirement account which in turns streams back into her account every mth.
4% risk free rate (this is not guaranteed though, there's no guarantee that the cpf rate will be given a 4% floor forever) is actually quite decent for me, given the other exposures i have.
i did the full 7k personally and also 7k for my mum (who is 70yrs old and umemployed)
so i get tax savings on 14k which is a fair bit.
since my mum is retired, the money goes into her retirement account which in turns streams back into her account every mth.
4% risk free rate (this is not guaranteed though, there's no guarantee that the cpf rate will be given a 4% floor forever) is actually quite decent for me, given the other exposures i have.