Minimum Balance for CPF accounts with effect from 1 April 2008
In view of the new CPF regulations to maintain a minimum balance of $20,000 for your CPF Ordinary and Special accounts, we wish to highlight the following changes to your Navigator CPF OA/SA Investment Plans.
Lump Sum Investments
You need to ensure that you have sufficient funds in your relevant CPF account before you submit your subscription request. For investments using CPF OA monies, please ensure you have sufficient funds in your CPF Investment Account with your agent bank or if not, sufficient funds in your CPF OA account if you are deducting monies from the account, as the case may be. For investments using CPF SA monies, always ensure that there is a minimum balance of $20,000 in addition to your investment amount. Any unsuccessful lodgement from your relevant CPF account will result in a delay in your subscription trades and, if you are using your CPFOA monies, you will also incur agent bank charges for the unsuccessful transaction.
Easy Save Option (regular investments)
You need to ensure that you meet the minimum balance of $20,000 in your relevant CPF account in order to enjoy this regular investment facility that you have signed up with Navigator. Your nominated investment amount will be lodged from your relevant CPF account at your nominated frequency. If there are insufficient funds in your relevant CPF account during any of the scheduled lodgement which is normally scheduled on 14th of every month, you will miss your regular investment for that particular month (depending on your nominated frequency). If you are using your CPFOA monies, you will incur agent bank charges for this unsuccessful transaction.
We have a set of frequently asked questions (FAQ) for the above CPF changes. We encourage that you read them before you subscribe or switch your investments.
Should you require any assistance, please contact your Financial Adviser Representative for clarification.