by Jessica Cheam
SINCE his father died three years ago, operations manager Chia
Pen Chueun has made use of a CPF scheme to help his mother.
He has been topping up the 74-year-old's CPF account with $7,000
in cash every year. She does not have much in her CPF as she is a
housewife.
'I've found the scheme helpful as it provides a regular income
for my mother and gives me tax breaks,' said Mr Chia, 51, who is
married with two children.
This Minimum Sum Topping-Up Scheme saw $250 million in top-ups
last year, the CPF Board said on Tuesday.
This is a 9 per cent increase from $228.6 million in 2009.
The number of top-up transactions also rose to 29,975 last year
from 24,143 in 2009, or a 24 per cent increase.
