10% of the monthly contribution to EPF may go into the EPF third account, while 75% may go into the EPF first account.
According to online sources, the Employees Provident Fund Board (KWSP) may launch a third account for CPF from May, where 10% of monthly CPF contributions will be remitted to the third account from May. Users can withdraw money from the third account at any time.
Currently, the ratio of CPF first account to CPF second account is 70% to 30%. After the launch of the CPF third account, the ratio of CPF first account to CPF second account to CPF third account may be 75% to 15% to 10%.
It is understood that subscribers can also choose to transfer their savings from the third account to the first and second accounts to enjoy a higher capital gains rate. This also means that the dividend payout from the third account will be lower than the first and second accounts.
Of course, all the above information comes from the internet, and the CPF Board has yet to officially announce the details of the third account.
