With the year of 2018 coming to an end soon, there is an excellent piece of good news that I will like to share. You probably have read it as other financial bloggers have wrote about it. If you didn’t know yet, in the near future, you can purchase Singapore Savings Bonds using your Supplementary Retirement Scheme funds with effect from 1st February 2019!
The current individual limit of S$100,000 have also been increased to S$200,000, inclusive of purchases with cash and Supplementary Retirement Scheme funds.
Personally, I felt that this is an excellent improvement to the Singapore Savings Bonds scheme. I can contribute to Supplementary Retirement Scheme for tax rebates and now invest them into Singapore Savings Bonds for a higher return.
If you buy Singapore Savings Bonds regularly like me, the monthly Singapore Savings Bonds purchases gets added to the list of your stocks in Central Depository (Pte) Limited (CDP) which kind of get messy as the list gets very lengthy. I am currently using StocksCafe to track my Singapore Savings Bonds.
To solely view your Singapore Savings Bonds purchases, the Monetary Authority of Singapore (MAS) will launch a My Savings Bonds portal in March 2019. The portal will allow investors to view their total SSB holdings, purchased using both cash and SRS funds.
Happy Retirement Planning!