Stock Investment Account
From 1 april 2008 only monies in excess of 20 000 in your ordinary account can be invested.
Stock investment account. A brokerage account is a specialized type of financial account that allows the owner to buy hold and sell investments such as stocks bonds mutual funds and exchange traded funds etfs. A standard brokerage account sometimes called a taxable brokerage account or a non retirement account provides access to a broad range of investments including stocks mutual funds bonds. Investment account is an account opened for the purpose of the investment. Further if the number of investment is large a separate account for each investment should be opened.
The interest rate on balances in the cpf investment account which are not invested is currently 0 050 p a. Minimums to open an account. Accounting entry on the purchase of any investments are given as hereunder. If you have a 401 k retirement account at work you may already be investing in your future with allocations to mutual funds and even your own company s stock.
P the cpf investment scheme cpfis gives you an option to invest your ordinary account oa and special account sa savings in a wide range of investments to enhance your retirement nest egg.