1. How do I request for a Duplicate Policy?

You are required to complete and submit the following to us via email
customercare@tokiomarine-life.sg:
• Indemnity Form for Loss / Non-Receipt of Policy Document
• A photocopy of your NRIC / Passport. Your signature must be endorsed
clearly on the photocopy of your NRIC / Passport.
• Payment of $15 for the administrative fee for the application.

2. What are the types of premium payment mode / frequency available? How do I
change my payment mode from monthly to yearly or vice versa?

The types of payment mode / frequency are:

• Monthly
• Quarterly
• Half-yearly
• Yearly

Change of premium payment mode / frequency is available online via TMLS

Policyholder's Portal https://mypolicy.tokiomarine-life.sg. You have the option to log
in by scanning the QR with your Singpass app.

To change mode of payment to Monthly:

• Complete the Request of Change Form, the Application Form for Interbank
GIRO and one premium advance payment. The new GIRO application will
usually take one month to process.
• The form is available at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html
• Mail the above forms to Tokio Marine Life Insurance Singapore one month
before the next premium due date.
• Note – Monthly premium payment is only accepted through Interbank GIRO

To change mode of payment to Quarterly or Half-yearly:

• Complete the Request of Change Form and mail it to Tokio Marine Life
Insurance Singapore one month before the next premium due date, or
• Email the forms to customercare@tokiomarine-life.sg
• The form is available at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html
 To change mode of payment to Yearly:
• Complete the Request of Change Form and mail it to Tokio Marine Life
Insurance Singapore one month before the policy anniversary date, or
• Email the forms to customercare@tokiomarine-life.sg
• The form is available at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html
• Note – The change will take effect from the next policy anniversary date.

3. What is the procedure if I want to change the premium payment method?

To change premium payment method to Cash or Cheque payment:

• Complete the Request for Change form and mail it to Tokio Marine Life
Insurance Singapore one month before the next premium due date, or
• Email the forms to customercare@tokiomarine-life.sg
• The form is available at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html
• Note – Cash / cheque payment method is not applicable to monthly payment
mode.

To change premium payment method to GIRO payment:

• Complete the Application form for Interbank GIRO and mail them to Tokio
Marine Life Insurance Singapore one month before the next premium due
date.
• The form is available at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html
• Note – GIRO application will usually take one month to process. Hence, you
are required to send your payment via cash / cheque during the application
process.

4. What should I do if I want to reduce my Sum Assured?

Reduce Sum Assured for policies with no cash value:

• Email customercare@tokiomarine-life.sg
• Complete the Request of Change Form and mail to Tokio Marine Life
Insurance Singapore one month before the next premium due date. The
Request of Change form can be found at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html
• Write to Tokio Marine Life Insurance Singapore Ltd.
 • Note – There will be no refund of premium paid.
Reduce Sum Assured for policies with cash value:

• Email customercare@tokiomarine-life.sg
• Write to Tokio Marine Life Insurance Singapore Ltd.

5. I wish to change my GIRO deduction bank account. What forms should I complete?

You need to complete the Application Form for Interbank GIRO and remit one
premium advance payment. The new GIRO application will usually take one month
to process. The form is available at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html

Kindly mail the above to Tokio Marine Life Insurance Singapore one month before
the premium due date.

6. How do I update when there is a change or correction of:

• Address
• Name
• Change of NRIC / Passport No / Citizenship
• Change of Occupation
• Change of Signature
• Change of Contact Details
• Withdrawal of Marketing Consent

Change and/or correction of the above is available online via TMLS Policyholder’s
Portal https://mypolicy.tokiomarine-life.sg. You have the option to login by scanning
the QR with your Singpass app.

As part of the Common Reporting Standard (CRS) regulation, if any of the

information regarding your tax residency changes, please advise us of these
changes promptly and submit a duly completed Tax Residency Self-Certification.
The Self-Certification form is available at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html.

7. What is CRS?

The Common Reporting Standard (CRS) is a new information-gathering and

reporting requirement for financial institutions in participating countries, to help fight
against tax evasion and protect the integrity of the global tax systems.
8. Who is reportable?
The CRS seeks to establish the tax residency of customers. Under the CRS,
financial institutions are required to identify customers who are tax residents outside
of the country where they hold their accounts and products, and report certain
financial account information to the local tax authority. The local tax authority may
then share that information with the tax authority in the country where you are a tax
resident.
9. Why are you asking me for my jurisdiction(s) of tax residency?

Under the CRS, tax authorities require financial institutions such as Tokio Marine
Life Insurance Singapore Ltd to collect and report certain information relating to their
customers’ tax status.

If you buy a new insurance policy, take over an insurance policy via Absolute
Assignment and/or Section 49L, or change your circumstances, we will ask you to
certify a number of details about yourself. This process is called “self-certification”
and we are required to collect this information under the CRS. Compliance with the
CRS is a requirement under Singapore domestic law.

10. Are all insurers doing this?

All reporting financial institutions (that are not otherwise exempt from such reporting
requirements), including banks, insurers and asset management businesses, are
required to be compliant with the CRS.

11. What information are you asking customers to provide and verify?
In line with the CRS requirements, we will be asking you for the following
information:
• Name
• Address
• Date of birth (for Individual and Controlling Persons)
• Country(ies) of tax residence
• Taxpayer identification number(s)
• Place of registration/incorporation (for Entities)
• Entity Type
• Controlling Person Type
12. How is my tax residence defined?

This will depend on your individual circumstances. Please contact a professional tax
or legal advisor or check the OECD website for more information on how to
determine your tax residency.

13. The information I have been asked for on the forms is similar to the information I
have been asked for under FATCA. Why does Tokio Marine Life Insurance
Singapore Ltd need this information again?

Even if you have already provided information under the United States government’s
Foreign Account Tax Compliance Act (FATCA), you may still need to provide
additional information for the CRS as these are different regulations with different
requirements.
FATCA is focused on non-US financial institutions and requires such financial
institutions to identify US Persons and report information on these US persons to the
US Internal Revenue Service, through IRAS. This is in line with local FATCA
regulations. In general, the CRS requires financial institutions to identify the tax
residency of all our customers and in certain circumstances, report information on
customers who are tax residents outside of Singapore where they hold their
accounts to the relevant tax authorities.

14. I pay taxes in the same country I live in. Why do I need to give you these details?

Under the CRS, we are legally required to establish the tax residency status of all
our customers. If you are only a tax resident in Singapore and not elsewhere, your
financial account information will not be passed on to the Singapore IRAS until there
is a change in circumstances.

15. How often will I need to provide this information?

Once we have a valid self-certification on record, you will only be asked to complete
another self-certification when you update certain information on your account or
when we believe your reportable status may have changed.

This would include changes in circumstances such as update in nationality, update

in contact number, address, and/or NRIC/passport number.

16. Why is Tokio Marine Life Insurance Singapore Ltd providing tax authorities with my
tax details?
 Tokio Marine Life Insurance Singapore Ltd is required to submit your financial
account information to the Singapore IRAS for reportable accounts, pursuant to
Singapore domestic law.

17. Will Tokio Marine Life Insurance Singapore Ltd respect my data privacy?

We respect your data privacy and we will only disclose your information to the
relevant tax authorities whereby we are legally required to do so.

18. Is my information safe?

Customer information is protected by a strict code of secrecy and security which all
employees of Tokio Marine Life Insurance Singapore Ltd and third parties are
subject to.

19. I have provided you with my details. Why are you asking me for supporting
documents?

We are required by law to verify the details you have provided as part of your self-
certification. We might ask you for a copy of your NRIC/passport to verify your
identity or for some other evidence of your tax residency declared in your self-
certification.

20. What information will be reported to tax authorities?

The information reported to tax authorities will have been provided in the self-
certification form, and details about the accounts and products you have with us,
including:
 the cash value
 the total amounts of Anticipated Cash Benefits, Dividends, Interests or
payments credited

21. Which countries are participating in the CRS?

For a list of countries participating in the CRS, alongside the dates that they will start
exchanging information, please see the OECD CRS portal.

22. Where can I find further information and advice?

 For further information on your tax residency, please refer to the rules governing tax
residence that have been published by each national tax authority. You can also find
out more at the OECD Automatic Exchange of Information portal.

23. What is a Fund Switch and Premium Re-direction?

If you have an investment-linked policy, you may switch units between funds or
change the direction and proportions in which your regular premiums are being
invested.

24. Can I do a partial surrender of the funds invested?

Yes, you can. However, you may wish to note that there is a minimum level of funds
that must be maintained under the policy as well as a minimum withdrawal
requirement.

You may email us at customercare@tokiomarine-life.sg to enquire on the minimum

amount to be maintained under your policy and the minimal withdrawal requirement.

25. How do I terminate my Premium Holiday?

You may email us at customercare@tokiomarine-life.sg to enquire on the

outstanding premium, interest payment and other requirements.

26. Can I top up my policy?

Yes, you can. You may top up with a lump sum investment any time during the
policy term (subject to policy terms and conditions).

27. What is the procedure if I want to surrender all the units under my policy?

For full surrender, you will need to complete the Withdrawal / Surrender form and
submit it together with the Original Policy Document to us for processing.

28. What is NFL?

If premium remains unpaid after the grace period and there is sufficient cash value in
the policy, the unpaid premiums would automatically be advanced from the cash
value as a loan to keep your policy in-force.

29. How can I know that the policy is under NFL?

 A NFL notice will be sent to you on activation of NFL.

30. Will there be interest chargeable?

The prevailing interest rate on the loan is 6.3% per annum compounded on a
monthly rest basis.

The Company may change the interest at any time.

31. Do I need to repay the NFL?

In order not to lose valuable coverage, it is advisable to repay the NFL. If the NFL
together with accrued interest exceeds the cash value of the Policy, the Policy will
terminate and become void.

32. How do I repay the NFL?

You may email to us at customercare@tokiomarine-life.sg to enquire on the

repayment options, outstanding premium, interest payment and other requirements.

Payment Methods for Premium

It is now easier to service your policy with the following payment options:

 You can now use PayNow to remit payment to us. The details
New

are as follows:

Type of Plan Unique Entity Number (UEN)

SGD Life Insurance plans
<exclude Investment Link Plans 194800055DP01
(ILP)>
Investment Link Plans (ILP) 194800055DL33
When you are prompted for your UEN/Bill Reference No/ Reference, please indicate
your full Policy Number, including the zeros and alphabet in front, if any.

 Internet Banking: OCBC Bill Payment (for OCBC Internet

New

Banking Users)
o Select TM Life Insurance and enter your Policy Number (including the
zeros and alphabet in front, if any) in the Bill Reference field for Life policy.
 o Select TM Life Insurance to add as Billing Organisation and enter your
Policy Number (including the zeros and alphabet in front, if any) in the Bill
Reference field and submit.

 Internet Banking: DBS / POSB Bill Payment (for DBS / POSB

Internet Banking Users)
o Select TM Life Insurance and enter your Policy Number (including the
zeros and alphabet in front, if any) in the Bill Reference field for Life policy.

o Select TM Life Insurance to add as Billing Organisation and enter your

Policy Number (including the zeros and alphabet in front, if any) in the Bill
Reference field and submit.

 Pay Online on TMLS website (through AXS e-Station).

o Select 'Pay' at the top right corner of TMLS main webpage
https://www.tokiomarine.com/sg.
o After a disclaimer webpage, customers will be re-directed to the Tokio
Marine Life billing screen at the AXS e-Station.
o Please indicate your full Policy Number, including the zeros and alphabet
in front, if any.

 Using AXS online, mobile app or terminal

o Please indicate your full Policy Number, including the zeros and alphabet
in front, if any.

 You may now use the GIRO Application Service via DBS / POSB
Internet Banking to apply for Interbank GIRO (for DBS / POSB
Internet Banking users only)

o Select ‘Pay’.
o Select ‘Add GIRO Arrangement’.
o Select 'TM Life Insurance’ as the Billing Organisation
o Input your Policy Number (including the zeros and alphabet in front, if any)
as the Bill Reference No.
o Select your account number for this GIRO Arrangement.
o Click ‘Next’.
 o You will receive a notification letter from Tokio Marine Life advising you of
the start date of the GIRO deduction
• Application for Interbank GIRO

o Download and submit the completed Application form for Interbank Giro to
Tokio Marine Life Insurance Singapore one month before the next premium
due date. This form is available at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html

o Note: GIRO Application will usually take one month to process. Hence, you
are required to send your payment via other alternate payment modes such
as New PayNow, AXS or DBS / POSB Bill Payment while waiting to complete
the application process.

 Interbank Fund Transfer to TMLS bank account.

Please indicate the Policy Number (including the zeros and alphabet in front, if any) in
the Reference field.

The details are as follows:

For SGD / USD / GBP / AUD Policy

Bank Name DBS Bank Singapore Ltd

12 Marina Boulevard
Bank Address Marina Bay Financial Centre Tower 3
Singapore 018982
Beneficiary Bank Details
Account Number 0220071106
Account Tokio Marine Life Insurance Singapore
Name/Payee Ltd
Swift Code DBSSSGSG
Bank Name JPMorgan Chase Bank N.A.
Additional Details for USD
Swift Code CHASUS33
Bank Name Royal Bank of Scotland, London
Additional Details for GBP
Swift Code RBOSGB2L
Additional Details for Bank Name Commonwealth Bank of Australia, Sydney
AUD Swift Code CTBAAU2S
(not applicable for TM Atlas & all #go Series Investment-Linked Plans)
For TM Atlas & all #go Series Investment-Linked Plans

Bank Name DBS Bank Ltd Singapore

12 Marina Boulevard
Bank Address Marina Bay Financial Centre Tower 3
Singapore 018982
Beneficiary Bank Details
Account Number 003-926533-6
Account Tokio Marine Life Insurance Singapore
Name/Payee Ltd
Swift Code DBSSSGSG
Bank Name JP Morgan Chase Bank, N.A.
Additional details for USD
Swift Code CHASUS33
Bank Name Royal Bank of Scotland, London
Additional details for GBP
Swift Code RBOSGB2L
Bank Name Commonwealth Bank of Australia, Sydney
Additional details for AUD
Swift Code CTBAAU2S
Additional details for Bank Name Barclays Bank Ireland Frankfurt
EUR Swift Code BARCDEFF

All administrative, bank charges and currency exchange difference (if applicable) will be borne
by the customer.
 Cheque
o To be crossed and made payable to Tokio Marine Life Insurance
Singapore Limited or TMLS
o Please do not issue post-dated cheque
o Write the policy number (including the zeros and alphabet in front, if any)
on the back of the cheque and mail to:

TMLS
20 McCallum Street
#07-01
Tokio Marine Centre
Singapore 069046

 Cash
 o Payment by cash is not available at our office. You can visit any
DBS/POSB Cash Deposit Machine to make your payment to TMLS. Once
you have made the payment, please complete the following form and
email to customercare@tokiomarine-life.sg.

o Cash Payment Declaration Form

33. I wish to terminate my GIRO deduction bank account. What forms should I
complete?

 Complete the GIRO Termination Form and mail it to TMLS.

 The form is available at
http://www.tokiomarine.com/sg/en/personal/resources/forms.html
 Note - Monthly premium payment is only accepted through Interbank GIRO

34. What are the Policy / Administrative charges imposed by Tokio Marine Life
Insurance Singapore Ltd?
Duplicate Policy $15
Lost Policy $15
Detailed Breakdown of Transactions $20

35. How many types of assignment are there?

There are two types of assignment:

 Absolute Assignment
 Collateral Assignment

36. What is an Absolute Assignment?

It is a transfer of ownership from the Policy Owner (Assignor) to another person or

institution such as a bank (Assignee). The Assignee will have full control of the
policy as if he / she is the Policy Owner.

37. What is a Collateral Assignment?

Collateral Assignment is the transfer of ownership rights from the Policy Owner
(borrower) to an Assignee (lender), in exchange for the granting of credit facilities.
 The borrower retains possession of the asset, with the understanding that the use or
disposition of that asset must be managed with the consent and approval of the
lender.

Any payout or claims will be made to the lender and the lender will liaise with the
borrower and / or his / her beneficiary if there is excess money. Once the loan is fully
repaid, the lender relinquishes the Collateral Assignment, and the borrower has full
ownership and control of the insurance plan once again.

38. Am I eligible to perform an Assignment?

You must be 18 years of age, of sound mind and have not been declared a bankrupt
in order to perform an Assignment.

39. What are the requirements for performing an Assignment?

To assign the policy to an individual, please complete the following:

 Absolute Assignment Form
 Copies of NRIC for both the Assignor & Assignee
 Individual Tax Residency Self Certification form (if Assignee is an individual)
 Entity Tax Residency Self-Certification form (if Assignee is a Company /
Organisation / Trust)
To assign the policy to a Company / Organisation / Trust or for more information and
enquires, please email us at customercare@tokiomarine-life.sg.

40. When can I apply for a Policy Loan?

Policy loan will be available when the policy has acquired a cash value, subjected to
the policy terms and conditions.

Please note that certain types of polices do not have the policy loan features e.g.
policies purchased through CPF funds, etc.

41. What is the Maximum Policy Loan amount that I can take?

You may wish to call our Customer Service Officer for the latest Policy Loan amount
available for your policy.

42. How can I apply for a Policy Loan?

 You are required to complete the Policy Loan Agreement before the request can be
processed.

The Policy Loan Agreement can be obtained via email at

customercare@tokiomarine-life.sg

43. What is the interest chargeable for the Policy Loan?

The prevailing interest rate on the loan is 6.3% per annum compounded on a
monthly rest basis, subject to changes as determined by our Company.

44. What are benefits of receiving payments via PayNow?

Your payments from TMLS will be credited directly to your bank account which is
linked to your PayNow profile (NRIC/FIN). You do not have to wait for cheque
clearance or worry about missing cheques.

45. What are the eligibility requirements for receiving payments via PayNow?

• Policyowners whose Singapore NRIC/FIN are in our policy records

• Payments to a single payee
• Payments in SGD
• Selected payments which TMLS is progressively rolling out PayNow
• Policies which do not have an existing recurring direct crediting arrangement

46. How will I be notified?

If the payment due to you is eligible for PayNow, we will notify you in writing before
the payment due date.

47. Can I choose to receive the payments via direct crediting to another bank account?

Yes, you can. However, you must provide advance notification for us to credit your
payment directly to another bank account.

48. Do I need to instruct TMLS that I would like to receive payments via PayNow?
There is no need for you to inform us. We will automatically make the payment to
you via PayNow if you are eligible and notify you in writing beforehand.
49. Are there any fees charged to me for receiving payments via PayNow?

No.

50. How will I receive my payment if my policy is not eligible for PayNow and I do not
have any recurring direct crediting arrangement?

If your mailing address is in Singapore, you will receive a cheque when the payment
is due. Otherwise, you will receive a letter from us on the payment instructions.

51. How do I register for PayNow?

You may register for PayNow with your bank’s internet or mobile banking and link
your NRIC/FIN to your PayNow profile.

52. Will I be able to receive payments via PayNow if my PayNow profile is only linked to
my mobile number?
No. Your PayNow profile must be linked to your NRIC/FIN for us to make payment to
you.

53. What happens to my payment if PayNow is unsuccessful?

We will send you a cheque via your mailing address within 2 weeks if PayNow is
unsuccessful.

54. Under what circumstances would a policy lapse?

 Policy has not acquired any cash value when premium is not paid within the
grace period.
 Non-Forfeiture Loan outstanding exceeds the cash value.

55. I have received a Lapse Notice from Tokio Marine Life Insurance Singapore Limited.
What should I do if I wish to continue with my policy?

You will be required to attach premium payment (with interest) with the
Supplementary Proposal Form and send them back to us. Your policy will be
subjected to Reinstatement Underwriting. A confirmation letter will be sent to you
once your policy is reinstated. However, should there be further requirements, we
will write to you.
56. I have not paid my premiums for a long time. Can I reinstate my policy?

You can reinstate your policy if:

 traditional policy / rider(s) has lapsed for less than 24 months
 regular premium ILP plans / Asia HealthPlus has lapsed for less than 12
months

Reinstatement is not allowed for the following plans:

 Asia Platinum plan
 TM Personal Accident plan
 TM Protect Cancer plan
 TM Protect PA-EZ
 TM Mosbite

57. How do I know how much premium and interest to be paid to reinstate my policy?

You can contact your adviser or email to our Customer Service Officers at
customercare@tokiomarine-life.sgfor the latest quotation to reinstate your policy.

58. When can I surrender my policy?

You can surrender your policy at any time. However, do note that there will be no
refund of premium.

59. What is the procedure to surrender my policy?

Policy that has attained Cash Value

 Complete the Surrender Discharge Voucher and return it to us together with
the Original Policy document for processing.

Policy that has not attained Cash Value/Term Policies

 You will need to write to Tokio Marine Life Insurance to terminate the policy.

60. I have lost my policy document. What should I do?

If you intend to surrender your policy but have lost your policy document, you are
required to complete the Indemnity Form for Loss/ Non-Receipt of Policy Document.
61. I have surrendered / terminated my policy. Can I change my mind and continue with
the policy?

Once your policy is surrendered / terminated, we are unable to reinstate your policy.
Hence, it is advisable that you consult with your Financial Adviser Representative or
our Customer Service Officers on the various options available instead of
surrendering your policy.

62. Can I surrender part of my policy?

Yes. You can choose to reduce your Sum Assured to make the premium more
affordable based on your financial situation. You will receive partial surrender
proceeds if your policy has acquired cash value.

63. How long does it take to surrender my policy and get the proceeds?

For cash policies:

The surrender proceeds will be credited to your bank account via PayNow or fund
transfer within three days from the date we receive the completed Surrender
Discharge Voucher.

For more information or enquires, kindly email to our Customer Service Officers at
customercare@tokiomarine-life.sg for assistance.

For CPF-OA / SRS policies:

If the policy was bought using the CPF-OA or SRS funds, the proceeds will be
credited into the designated investment account.

If you need the funds to be transferred to your CPF-OA urgently, you will have to
inform your agent bank and authorise them to transfer the funds in the investment
account back to your CPF-OA.

For CPF-SA policies:

If the policy was bought using CPF-SA funds, the proceeds will be credited directly
to the CPF Board.

For more information or enquires, kindly contact our Customer Service Officers at
customercare@tokiomarine-life.sg for assistance.

64. How do I get a copy of the Nomination Form?

  Nomination Forms can be downloaded from Tokio Marine website under
\’Resources - Forms\’ in the Personal section.

 Email us at customercare@tokiomarine-life.sg

65. What are the new restrictions on the CPF Investment Schemes (CPFIS) arising from
the CPF Reforms?

From 1 July 2010, you will not be able to invest the first $20,000 and $40,000 in your
Ordinary Account (OA) and Special Account (SA). To invest under CPFIS-OA, you
will have to set aside $20,000 in your OA before the remaining savings in your OA
can be used for investments. Similarly, to invest under CPFIS-SA, you will have to
set aside $40,000 in your SA before the remaining savings in your SA can be used
for investments. This restriction is in place because of the extra 1% interest that you
will earn on the first $60,000 of your combined CPF accounts from 1 January 2008.

66. Why is the threshold for investing SA monies raised from $20,000 to $40,000? What
is the basis for the new threshold?

The threshold has been raised given the high interest rate paid on the SA and the
uncertainty of CPFIS returns. The minimum interest rate on the SA is 4% currently.
With the extra 1% interest on the first $60,000 of a member’s total CPF balances,
the SA interest rate is 5% currently. This is in contrast to the returns from CPFIS,
which can be highly uncertain.

67. I have made some investments using my CPF before 1 July 2010 and my balances
in my OA and SA are below the $20,000 and $40,000 respectively. Do I need to
liquidate my CPFIS investments?

No, you are not required to liquidate your CPFIS investments if you had purchased
them before 1 July 2010.

68. Can I continue to service my insurance premiums if my balances fall short of

$20,000 and $40,000 in my OA and SA respectively?

You can continue to service your regular premium insurance policies but NOT
recurring single premium insurance policies or regular savings plans for unit trusts.
This is because for regular premium insurance policies, the significant maturity
benefits would be forgone if payment of the premiums is stopped, hence the CPF
 Board has made an exception for members to continue to service their insurance
premiums if their balances fall short of $20,000 and $40,000 in the OA and SA
respectively.

However, this loss of benefits upon a stop in premium payment does not apply to
recurring single premium plans. While the CPF Board encourages regular savings
and dollar cost averaging over the long term to help build up retirement savings, on
the balance, it is good to have some OA cash balance for emergency needs so that
members can continue to fund housing installments, children’s tertiary education and
maintain insurance covers. You can resume paying premiums on regular savings
plans after you have built up savings in excess of $20,000 and $40,000 in the OA
and SA respectively.

69. Do I need to pay cash for agent bank fees if my balances fall short of $20,000 and
$40,000 in my OA and SA?

No, you can continue to service the agent bank fees with your CPF savings even if
your OA balance falls below $20,000. The agent bank fees are ongoing fees which
need to be paid as long as you continue to hold on to your investment, hence the
CPF Board has made an exception for you to continue paying the agent bank
charges using your CPF savings. Also, the $20,000 and $40,000 restriction in the
OA and SA is to allow members to earn additional 1% interest and they should
continue to enjoy the convenience of paying the bank charges using their CPF.

70. If I sell my investments or switch between investments after 1 July 2010, will I be
able to re-invest the sale proceeds if my OA or SA balance is below $20,000 &
$40,000 respectively?

Switching between investments is made up of a “sell” transaction of existing

investment, followed by a “buy” transaction of new investment. Any “buy” transaction
will be subjected to the $20,000 and $40,000 restriction on OA and SA respectively
which is applied to the balances held with the Board.
Under CPFIS-OA, when you sell or switch your investments, the sale proceeds will
be credited into your CPF Investment Account. You may reinvest the sale proceeds
in your Investment Account, even if your OA balance is below $20,000. However, if
the sale proceeds are refunded to your OA, you may not re-invest the balance if your
OA balance is below $20,000.

Under CPFIS-SA, when you sell or switch your investments, the sale proceeds may
be credited to your SA and you may not re-invest the balance if your SA balance is
below $40,000.
71. If I have $X in my OA and $Y in my CPF Investment Account, how much can I
invest?

Please see below:

a) If $X is less than or equal to $20,000, you can only invest $Y.
b) If $X is more than $20,000, you can invest $X minus $20,000 and $Y.
c) If you initiate a refund of $Y to your OA or $Y is automatically refunded to your OA
as you have no active transactions in your Investment Account for two consecutive
months,

i) if $X plus $Y is less than or equal to $20,000, you will not be able to invest any
amount, and
ii) if $X plus $Y is more than $20,000, you will be able to invest $X plus $Y minus
$20,000.

72. If I have $X in my SA and $Y in my CPF Investment Account, how much can I

invest?

Please see below:

d) If $X is less than or equal to $40,000, you can only invest $Y.
e) If $X is more than $40,000, you can invest $X minus $40,000 and $Y.
f) If you initiate a refund of $Y to your SA or $Y is automatically refunded to your SA
as you have no active transactions in your Investment Account for two consecutive
months,

i) if $X plus $Y is less than or equal to $40,000, you will not be able to invest any
amount, and
ii) if $X plus $Y is more than $40,000, you will be able to invest $X plus $Y minus
$40,000.

73. Will my stock and gold limits be affected?

There is no change in the computation of your stock and gold limits. However, if you
do not have $20,000 in your OA, you will not be able to invest in stock or gold even if
you have sufficient stock and gold limits.

The above information is obtained from the CPF website. For more information,
please refer to http://www.cpf.gov.sg.