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Talking Point >>> Is your CPF enough for retirement?


Wt_know
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We cannot top up SA with cash, but we can top up OA with cash. If let say at age 55 onward where employer and employee percent is lowered, we can top the balance with cash right? I mean treating my CPF account as saving account lah, since the interest is smelly smelly better than any FD out there.

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20 minutes ago, Roh96 said:

We cannot top up SA with cash, but we can top up OA with cash. If let say at age 55 onward where employer and employee percent is lowered, we can top the balance with cash right? I mean treating my CPF account as saving account lah, since the interest is smelly smelly better than any FD out there.

I recalled reading from this thread that after 55, top up is only to RA, not OA or SA.  Unless you 'refund' your housing loan, then this goes to OA.

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1 hour ago, Kopites said:

Anyone any idea on the cpf saq?

20 mcq? Must get them all correct?

Didn't proceed as need to use singpass to log in. 

Whats the reward first ? 😜🍻🍻🍻🍻

I have my lucky dice 1 2 3 4 ... 😁

Edited by Angcheek
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43 minutes ago, Angcheek said:

Whats the reward first ? 😜🍻🍻🍻🍻

I have my lucky dice 1 2 3 4 ... 😁

To shield one need to answer the saq. Just read from 2018 all cpf source investment need that stupid saq before investment.

Need to go dig up my decades ago primary 3 notes? Damn....already a father!😟

Anyone done that? Difficult?

 

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2 hours ago, Roh96 said:

We cannot top up SA with cash, but we can top up OA with cash. If let say at age 55 onward where employer and employee percent is lowered, we can top the balance with cash right? I mean treating my CPF account as saving account lah, since the interest is smelly smelly better than any FD out there.

Yes. Confirmed can top up to all 3 accts. You cam also top up 3k to MA first (is 60k to 63k max) on 1st Jan to earn extra interest. Excess will be refunded to SA/OA on 31st Dec. 

But don't over top up if you still have CPF contributions from employment. It would be refunded without interest. You can check how much max you can top up in December after your last contribution. 

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On 2/23/2021 at 8:15 PM, Volvobrick said:

Yes. Confirmed can top up to all 3 accts. You cam also top up 3k to MA first (is 60k to 63k max) on 1st Jan to earn extra interest. Excess will be refunded to SA/OA on 31st Dec. 

But don't over top up if you still have CPF contributions from employment. It would be refunded without interest. You can check how much max you can top up in December after your last contribution. 

Lichman spotted, must have over topped  up before right😄😄

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On 2/23/2021 at 8:15 PM, Volvobrick said:

Yes. Confirmed can top up to all 3 accts. You cam also top up 3k to MA first (is 60k to 63k max) on 1st Jan to earn extra interest. Excess will be refunded to SA/OA on 31st Dec. 

But don't over top up if you still have CPF contributions from employment. It would be refunded without interest. You can check how much max you can top up in December after your last contribution. 

The ma to 63k can only top up somewhere mid Jan.

I tried on 1st and 2nd, 3rd still kick me out. Stick at 60k.

Edited by Kopites
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On 2/23/2021 at 5:27 PM, Roh96 said:

We cannot top up SA with cash, but we can top up OA with cash. If let say at age 55 onward where employer and employee percent is lowered, we can top the balance with cash right? I mean treating my CPF account as saving account lah, since the interest is smelly smelly better than any FD out there.

Top up OA with cash? Really. Is that possible

i dont mind topping up $500k now.  And in 7 yrs with i am 55, it becomes free for my use.

can?

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(edited)
18 minutes ago, Throttle2 said:

Top up OA with cash? Really. Is that possible

i dont mind topping up $500k now.  And in 7 yrs with i am 55, it becomes free for my use.

can?

hahaha ... tan ku ku la

what he meant was after 55, he wish to top up his CPF with CASH (+7%) in OA to maintain 20% own cpf contribution prior to 55 ...

only if you work after 55 then got cpf contribution ...

question is ... top up every month like a cpf contribution or one lump sump (calculate the difference) ... can meh? :secret-laugh:

like that everyone want to top up to $37,740 per annum ... lol

2021-03-07_141905.jpg

Edited by Wt_know
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On 2/23/2021 at 5:49 PM, Car_byte said:

I recalled reading from this thread that after 55, top up is only to RA, not OA or SA.  Unless you 'refund' your housing loan, then this goes to OA.

you are correct. it was mentioned in the video (at 5.00 mark) by CPF Board.

Planning for Your Retirement with CPF

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(edited)

that means at age 54, shield the SA first (kept mandatory $40K), move all the funds to safe short term bond

then few months before 55 birthday, top up SA to $181K with CASH$ to meet min sum to be ready for RA

like that means also shielded OA since SA = FRS ... is that correct? 

after 55 birthday, liquidate the bond and move $$ back to SA 

at the end OA and SA both are shielded to earn 2.5% and 4% ... aka long term bond with withdrawal flexibility

technically the entire FRS ($181K) is funded with $40K + $141K CASH top up ...

isn't this is better than keep $141K in FD to depreciate in value? ... lol

at 55, T2 can top up RA to $271K with CASH too

this means OA got >$500K, SA got >$500K and RA = $271K ... song song gao jurong

huat ah!

2021-03-07_151240.jpg

Edited by Wt_know
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(edited)
1 hour ago, Wt_know said:

that means at age 54, shield the SA first (kept mandatory $40K), move all the funds to safe short term bond

then few months before 55 birthday, top up SA to $181K with CASH$ to meet min sum to be ready for RA

like that means also shielded OA since SA = FRS ... is that correct? 

after 55 birthday, liquidate the bond and move $$ back to SA 

at the end OA and SA both are shielded to earn 2.5% and 4% ... aka long term bond with withdrawal flexibility

technically the entire FRS ($181K) is funded with $40K + $141K CASH top up ...

isn't this is better than keep $141K in FD to depreciate in value? ... lol

at 55, T2 can top up RA to $271K with CASH too

this means OA got >$500K, SA got >$500K and RA = $271K ... song song gao jurong

huat ah!

2021-03-07_151240.jpg

To shield OA, you also need to move the funds out before RA is created. Inject cash into RA then liquidate your OA and SA investments.

Just note that for withdrawals, SA will get hit first, so there is the downside of OA shield.

That's my understanding.

Edited by TangoCharlie
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(edited)
1 hour ago, Wt_know said:

that means at age 54, shield the SA first (kept mandatory $40K), move all the funds to safe short term bond

then few months before 55 birthday, top up SA to $181K with CASH$ to meet min sum to be ready for RA

like that means also shielded OA since SA = FRS ... is that correct? 

after 55 birthday, liquidate the bond and move $$ back to SA 

at the end OA and SA both are shielded to earn 2.5% and 4% ... aka long term bond with withdrawal flexibility

technically the entire FRS ($181K) is funded with $40K + $141K CASH top up ...

isn't this is better than keep $141K in FD to depreciate in value? ... lol

at 55, T2 can top up RA to $271K with CASH too

this means OA got >$500K, SA got >$500K and RA = $271K ... song song gao jurong

huat ah!

2021-03-07_151240.jpg

I still dont understand , shield for what?

just use me as example. Say pretend i got $1mil in cpf today.

please explain

 

Edited by Throttle2
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(edited)
2 hours ago, Wt_know said:

that means at age 54, shield the SA first (kept mandatory $40K), move all the funds to safe short term bond

then few months before 55 birthday, top up SA to $181K with CASH$ to meet min sum to be ready for RA

like that means also shielded OA since SA = FRS ... is that correct? 

after 55 birthday, liquidate the bond and move $$ back to SA 

at the end OA and SA both are shielded to earn 2.5% and 4% ... aka long term bond with withdrawal flexibility

technically the entire FRS ($181K) is funded with $40K + $141K CASH top up ...

isn't this is better than keep $141K in FD to depreciate in value? ... lol

at 55, T2 can top up RA to $271K with CASH too

this means OA got >$500K, SA got >$500K and RA = $271K ... song song gao jurong

huat ah!

Heard there's another trick, 
At 55, choose CPF Life most basic plan. Then "change your mind", top up cash to the maximum scheme. But tiagong lah from those CPF blogs that my friend reads. Something like this rough idea. But i think at most I'll do SA shielding.

 

Edited by Lala81
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