Supplementary Retirement Scheme is a voluntary savings scheme introduced by the Government to encourage you to save more for retirement, above what they contributed to Central Provident Fund. Click here to read more about SRS and the tax benefits available if you choose to save for your retirement via this scheme.
Not too sure of the terms used in your Benefit Illustration or your unit trust term sheet? Through the use of graphics, MoneySENSE will help you understand the different terms used in some of the financial statements/documents that consumers commonly encounter. In the first part of this new series, we show you how to read your CPF statement. Click here (PDF, 90.0KB) to find out more.
In the second parter on CPF Statement, we show you what is contained in your property and investment statements. You can check your CPF Statement at www.cpf.gov.sg. Click here (PDF, 98.4KB) to find out more.
Central Provident Fund (CPF) Board has launched a CPF Retirement Planner Site which contains an on-line tool called the Interactive Journey that shows you how your choices in life could affect your retirement nest-egg, and a CPF Retirement Calculator for customized retirement planning. Log on to www.cpf.gov.sg to find out how Gomala, an executive in her early 20s, plans for her retirement and whether you are able to meet your retirement goals.
One of the biggest concerns we have in our golden years is outliving our savings. As such, it is important that we accumulate enough savings to see ourselves through a longer period of retirement. One investment option which is suitable for our retirement needs is annuities. Find out what annuities are and what you should consider when buying such products.
Do you know what to look out for when buying a motor insurance policy and how to avoid problems when making a claim? Read about the problems commonly encountered by consumers and find out what you should look out for when buying motor insurance policies.
Do you make enough effort to understand the terms and conditions of the insurance policy that you have bought? Do you know that many insurance policies contain a feature called Automatic Premium Loan? Read about the problem faced by a consumer who did not know about the feature and find out more on what you should look out for when buying an insurance policy.
Not sure what you should look out for when buying health insurance? Read about the problems commonly faced by consumers in health insurance and how you can avoid getting into a similar situation. These case studies and tips were featured in the Sunday Times Invest pages on 3 and 18 April 2004 as part of the MoneySENSE initiative.
There are many different types of health insurance policies and it can be challenging to know which is right for you. In the first of a two-part article, MoneySENSE and the Life Insurance Association, Singapore (LIA) provide an introduction to Health Insurance; explain the differences among the various types of policies; key things to consider before deciding whether to take up a particular policy; and where to go for more information.
In our earlier article on Health Insurance, we covered why you need health insurance, how you can tap on your CPF Medisave account to purchase Medishield or Integrated Shield health plans, the different types of health insurance products available and what to look out for when purchasing such products.Here we look at some of the issues commonly encountered by consumers with health insurance products and how we can avoid them.
Before you buy an insurance policy, do you make an effort to study the benefit illustration and the accompanying product summary carefully to have a good understanding of the policy? Do you know what is a participating life insurance policy and what is reversionary bonus? Read about the problem faced by a consumer who did not understand her policy terms and find out more on what you should look out for when buying an insurance policy.
Most people may have the misconception that estate planning is only necessary for the rich. Click here to find out more about estate planning and how it can be useful for you.
