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Benefits of topping up with cash vs CPF

14 Jun 2016 
SOURCE: CPF Board

There are various ways to save for your retirement, but here in our opinion are 2 of the easiest! The Retirement Sum Topping-Up Scheme allows you to build your retirement savings by topping up your own or your loved ones' CPF Accounts with either cash or with CPF savings. Here are the benefits of topping up your CPF accounts with cash vs CPF savings.

Benefits of topping up with cash vs CPF.png 

Here are 4 ways you can make top-ups to your SA/RA today!

1.       Online using my cpf
Login to my cpf Online services with your SingPass and submit and online application via 'My Requests'. For cash top-up, do make your payment immediately via OCBC's Internet Banking/Mobile Banking/ATM.

 

Your top-up will be processed within five working days after we receive your application.

 

2.       e-cashier (Cash top-up)

  1. Go to e-Cashier and select payment for top up my own/recipient's RA/SA under the Retirement Sum Topping-Up Scheme (RSTU).
  2. Make your payment immediately via E-cashier's mode of payment (eNETS Debit only).


Your top-up will be processed within five working days after we receive your application.
 

3.       GIRO
Download and fill up Application to Make Top-Ups Under the Retirement Sum Topping-up Scheme via Inter-Bank GIRO form and mail it to:

CPF Board
Retirement Schemes Department (RSD)
238B Thomson Road #08-00 Tower B
Novena Square Singapore 307685

Your inter-bank GIRO application will be processed within 21 working days after we receive your application.  Upon approval of your inter-bank GIRO application, your GIRO deduction will commence in the following month.  The deduction will take place on the 15th of each month.  If the 15th falls on a Saturday, Sunday or public holiday, the deduction will be made on the next working day.
 

4.       AXS Station
Go to any AXS station and select payment for top up my own/recipient's RA/SA under the Retirement Sum Topping-Up Scheme (RSTU). 

Your top-up will be processed within five working days after we receive your application.

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