Housewives allowed to open CPF accounts

WE THANK Mr Ng Eng Juan for his suggestion to allow housewives to open Central Provident Fund accounts, so they can receive contributions from their husbands or children ("CPF accounts for housewives"; Tuesday).

The CPF Board already allows all Singapore citizens or permanent residents, including housewives, to open CPF accounts.

In fact, for those who have not worked before, a CPF account is automatically created for them when a CPF contribution or a first top-up, such as the GST Voucher-Medisave payout (for eligible Singaporeans) or Minimum Sum top-up, is received.

CPF members can make cash or CPF top-ups for their loved ones under the Minimum Sum Topping-Up Scheme to build up their retirement savings. Members who make cash top-ups for their loved ones can enjoy tax reliefs of up to $7,000 a year.

We have seen a steady increase in the number of top-ups made over the years.

Members can visit the CPF website (www.cpf.gov.sg) for more details.

Irene Kang (Ms)

Director, Communications Division
Central Provident Fund Board
ST Forum, 3 Oct 2014

CPF accounts for housewives

I FULLY agree with the points raised by Mr Sebastian Liew ("What's wrong with being a housewife?"; last Wednesday) and Mr Tan Eng Tat ("Dual incomes should be a choice, not a must"; last Friday).

Housewives make significant and meaningful contributions to families, society and the nation. Their contributions should be appropriately acknowledged.

In this context, I suggest that the Central Provident Fund Board allow housewives who have not been employed in the workplace, and therefore do not have CPF accounts, to open such accounts so that their husbands and working children can contribute to their retirement savings.

The housewives will then be able to participate in schemes such as CPF Life, to ensure they are financially taken care of in their old age.

Ng Eng Juan
ST Forum, 30 Sep 2014