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i trying to transfer funds from my elderly mother's POSB account to her Retirement Account to get more interests since she getting monthly payout...............so what's the best way to do it ah ?
if more convenient - can transfer to my POSB account 1st then to her Retirement Account..............
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(15-09-2022, 08:29 PM)Napoleon Porlumpar Wrote: i trying to transfer funds from my elderly mother's POSB account to her Retirement Account to get more interests since she getting monthly payout...............so what's the best way to do it ah ?
if more convenient - can transfer to my POSB account 1st then to her Retirement Account..............
the better way is to top up from your posb, you can ask for tax relief.
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Maybe you can ask your mum to use this link to see if a POSB to RA topup is possible.
https://www.cpf.gov.sg/member/tools-and-...retirement
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(15-09-2022, 08:29 PM)Napoleon Porlumpar Wrote: i trying to transfer funds from my elderly mother's POSB account to her Retirement Account to get more interests since she getting monthly payout...............so what's the best way to do it ah ?
if more convenient - can transfer to my POSB account 1st then to her Retirement Account..............
Best is to leave her money in her bank account. You top her retirement account from your personal bank account. .....
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