
DollarsAndSense.sg
2022-06-22 13:26:10
Singaporeans’ Roadmap: Key Personal Financial Schemes And The Decisions You Have To Make At Every Age In Singapore
We look at how Singaporeans navigate key personal financial schemes and decisions in our lives in a uniquely Singaporean way. Along the way, and usually when we hit certain milestones, we can expect financial support levers and oftentimes, even having to make financial decisions. When reading this, you can think of it as the “Game of Life” from a Singaporean perspective.
When You Are Born
Even before you can start talking or walking, your CPF accounts are created for you. As a brand-new Singaporean baby, you receive a MediSave grant of $4,000. This isn’t just some arbitrary amount either. In fact, it is a sufficient amount for Singaporean babies to pay for your own MediShield Life premiums until you turn 21. These funds can also be used for Integrated Shield Plan premiums a