Question6: How can I pay for my RSP participation?
Answer:
Depending on the source of funds used for your initial investment, you can either use cash in the Investment Account, CPF Ordinary Account (CPFOA), CPF Special Account (CPFSA) or SRS monies. You may wish to refer to the FAQs for "Buying Unit Trusts" for more information. Please check with your CPF Agent Bank and/or SRS Operator for details on transaction charges.
(a) To use cash from the Investment Account, ensure sufficient funds are in the account. You can fund the Investment Account via any of the following ways:
• Give a standing instruction for finatiQ to periodically debit the external bank account using the "Standing Instructions (SI) Application/Cancellation Form"
• Transfer funds from the external bank account using the "Interbank GIRO/Funds Transfer Form" as and when topping up of your finatiQ Investment Account is required
• Transfer funds from an OCBC Account. Remember to complete the "Direct Debit Authorisation Form" as well.
(b) To use the CPFOA, CPFSA or SRS Portfolio for a unit trust purchase, set up the respective account for these transactions. Investments using CPFOA monies will be funded directly from the CPF Investment Account with your CPF Agent Bank. For investments using CPFSA and SRS monies, these will be funded from your CPF Special Account with CPF Board and SRS account with your SRS Operator respectively.
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