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CPF- to or no to transfer to Special Account


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Neutral Newbie

Actually what are the components added to the minimum sum....let say:

You "own"= 5 room flat (8 yrs left to furnish loan)

OA = $20000

SA = $44000

MA = $40000 (Ceiling)

Has the CPF holder reached the minimum sum?

 

half of min sum fig pledge by HDB flat, 20k from OA, 44k from SA for min sum computation. MA is standalone.

Edited by 2009k
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half of min sum fig pledge by HDB flat, 20k from OA, 44k from SA for min sum computation. MA is standalone.

ho sei liao! can tell the fella he oredy reaching minimum sum....now can become taxi driver oredy! [laugh][laugh]

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Actually what are the components added to the minimum sum....let say:

You "own"= 5 room flat (8 yrs left to furnish loan)

OA = $20000

SA = $44000

MA = $40000 (Ceiling)

Has the CPF holder reached the minimum sum?

 

 

minimum sum does not include MA, only OA and SA.

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minimum sum does not include MA, only OA and SA.

so 20k+44k=66 k

Half of minimum sum is roughly 66ks (for housing pledge)

66k + 66k =132k.

So fella reach minimum sum liao mah! [bounce1][bounce1]

or i count wrong :ph34r:

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Turbocharged

paiseh.. i am not sure about this thingy..

 

on retirement, if a person reached his minimum sum for OA and SA, he can then withdraw any excess on top of his minimum sum?

is it all amount above it, or just a bit by bit?

 

what if he is left with only the minimum sum? retire already cannot touch it until die, with that minimum sum stay there collect spider web?

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paiseh.. i am not sure about this thingy..

 

on retirement, if a person reached his minimum sum for OA and SA, he can then withdraw any excess on top of his minimum sum?

is it all amount above it, or just a bit by bit?

 

what if he is left with only the minimum sum? retire already cannot touch it until die, with that minimum sum stay there collect spider web?

 

 

if not wrong can withdraw anything above min sum. then from min sum, our caring garhmen will give u $200-300/mth to tide u through all old age til ur grave

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Turbocharged

if not wrong can withdraw anything above min sum. then from min sum, our caring garhmen will give u $200-300/mth to tide u through all old age til ur grave

 

thanks brudder.

 

weird that only 300/mth is allowed out of that $131k (assuming not increased further)

if i'm at 65yr old, taking 300/mth, yearly would be $3600.

131k thens mean that i will empty it out by 36.4years, which means that i will be over 100yrs old! [hur]

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Neutral Newbie

If you have the full minimum sum of $131K, average monthly payout should be about $1K per mth from 65 yrs old.

 

Check out this link from CPF : http://mycpf.cpf.gov.sg/Members/Gen-Info/C...FE/CPF_LIFE.htm

 

Almost there. .. but this min sum is a moving target adjusted for inflation yet the forced savings is with a 'banker' that pays less than inflation. Illusion and never ending struggle for most. .. that's why some call the cpf an indirect tax to income of near 40%...

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thanks brudder.

 

weird that only 300/mth is allowed out of that $131k (assuming not increased further)

if i'm at 65yr old, taking 300/mth, yearly would be $3600.

131k thens mean that i will empty it out by 36.4years, which means that i will be over 100yrs old! [hur]

300 is for the utulities n conveyancing lar! For makan n others stuff must work at macdonalds

where u can earn 3.50/hr. [thumbsup] [thumbsup]

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Go to the CPF link, click on CPL Life Payout Estimator. Imagine you are abt to hit 55 now, the estd mthly payout of abt $1K will be calculated. From 2013, all will have to choose 1 of 2 options under CPF Life. If you have less than min sum, estd payout will be less. Go play with the Estimator :)

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:o Mcdonald $3.50 per hr? Wow you are from which generation..cannot be. Work one hour just to eat one meal.I think its at least 5-6 dollar per hr. .
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CPF is never meant for ownself.

 

Its for your children. [laugh]

 

Actually our children will be beri rich.

 

Our house will be thiers. CPF also goes to them. Whatever $ we leave behind also thiers. :o

 

Hidden social tax.

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:o Mcdonald $3.50 per hr? Wow you are from which generation..cannot be. Work one hour just to eat one meal.I think its at least 5-6 dollar per hr. .

u ever apply bo? My students say one hor, as some of them really need the pocket money! [smallcry][smallcry] thats why some pple were talking about introducing minimum wage law!

Edited by Eviilusion
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:o Mcdonald $3.50 per hr? Wow you are from which generation..cannot be. Work one hour just to eat one meal.I think its at least 5-6 dollar per hr. .

not so high lah. 3.50 already very high liao. my time only 2.50 nia.

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Hidden social tax.

Western country with social welfare are using their children money to enjoy now while we slog it out so that our children can enjoy! Donno which is the lesser evil/good. But that if our Gov does not inroduce new law to curb our children spending :ph34r:

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not so high lah. 3.50 already very high liao. my time only 2.50 nia.

some pple very atas so does not feel the ache of those at the lower rung of the spectrum! Even the 7-11 cashier pay is about the same! [bigcry][bigcry]

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