Investment and Savings
When you sell your investments, the sales proceeds will automatically be credited into your CPF Investment Account. The monies will remain there, unless you instruct your agent bank to transfer the amount into your OA.
Your agent bank will also automatically transfer the cash balance held in your CPF Investment Account to your OA (at the end of the month*) if your Investment Account has been inactive (i.e. if there had been no investment transactions) for two consecutive months.
Profits earned under the CPFIS are not withdrawable as cash as the purpose of investing is to grow your savings for retirement. However, the profits can be used for other CPF schemes, subject to the terms and conditions. You also do not need to make good on any investment losses. However, such losses will inadvertently reduce your retirement nest egg. Your investment profits, interest earned from investments and dividends, if any, are not taxable under the CPF Investment Scheme.
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MoneyOwl to wind down all commercial activities
MoneyOwl is winding down its financial advisory business and all commercial activities will cease by December 31, 2023.
For more information, please visit our microsite here.
MoneyOwl to be acquired by Temasek Trust
MoneyOwl announced on November 28, 2023, that Temasek Trust has signed an Expression of Interest to acquire MoneyOwl and re-purpose it under a new model.
For more information, please visit our microsite here.