So you think you know about CPFLife

[TangoCharlie]

Hmm but i thought we are using the RS amount to buy into Cpf life annuity at 65. If so then shouldnt annuity payout amount be proportional to principal paid into annuity?

 

There's no more accrued interest once RS is "converted" into cpf life annuity.

Possible for the cpf life fund to hold some special govt bonds for higher interest rates bonds. Hence the different payouts.

Remembered reading somewhere about how one can "set aside" certain amounts before everything gets wiped out to RA for certain objective. Anyone has any idea about this?

Sweep in cpfis before funds are transferred to RA. I haven't been following actively of there are changes to the rules though.

[Angcheek]

Possible for the cpf life fund to hold some special govt bonds for higher interest rates bonds. Hence the different payouts.

Sweep in cpfis before funds are transferred to RA. I haven't been following actively of there are changes to the rules though.

Big sweep activity for life can or not ?

[Angcheek]

Msia give 6% for OA u know

[Angcheek]

The best explanation I heard is that the first 60k earns a higher interest...hence the payout is not proportional.

First 30k 6% .. next 30k 5% ... the rest 4%

 

As at 2019 . Subject to changes according to their mood.

[TangoCharlie]

Msia give 6% for OA u know ð

SG can afford to pay more definitely....having said that if you hold ringgit, you cry all the way to bank lor...vis a vis sgd.

First 30k 6% .. next 30k 5% ... the rest 4%

 

As at 2019 . Subject to changes according to their mood. ð

They won't dare to chut pattern one as long as you hold their balls with your vote.

[Angcheek]

SG can afford to pay more definitely....having said that if you hold ringgit, you cry all the way to bank lor...vis a vis sgd.

They won't dare to chut pattern one as long as you hold their balls with your vote.ð¬ð¤­

Ya ringgit up n down .... now going down again.

 

Good time to go jb

[TangoCharlie]

Ya ringgit up n down .... now going down again.

 

Good time to go jb ðð

 

The vote thingy wont be useful anymore bec they already diluted the town w new voters. Having said that .. i think cpf is good nature , i just anti the way they handle it. ð lock ur money in . Charge u INT for using it . Add in Min Sum . Raise withdrawal age ... dont know what else they will add in coming yrs.

Alamak, you just broke my delusion....I thot I still hold a precious piece of paper...now only good for big biz.

[poiq]

ERS payout is about $2K not $3K.

 

rps20190419_145303.jpg

 

The estimated $3k payout is for me. This is because the ERS is going up every year.

[poiq]

There's no more accrued interest once RS is "converted" into cpf life annuity.

 

This is a misconception. Members are drawing about 6.23% perpetually from their initial premium put inside cpf life. If there's no interest, you can draw for about 16 years only. Any additional years you're drawing is due to the accumulated interest on your initial premium.

[Angcheek]

Alamak, you just broke my delusion....I thot I still hold a precious piece of paper...now only good for big biz.

[Aloe111]

This is a misconception. Members are drawing about 6.23% perpetually from their initial premium put inside cpf life. If there's no interest, you can draw for about 16 years only. Any additional years you're drawing is due to the accumulated interest on your initial premium.

It's am annuity. Interest is pooled, but not directly accruable to you.

 

https://www.moneysense.gov.sg/articles/2018/10/understanding-annuities