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Can anyone explain after 55, how much i can back from CPF?

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Old 12-07-2018, 01:15 PM   #61
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Example:

Govt said:
1. Min sum 181,000 (Ordinary+Special)

2. Medisave 52,000

If i got:
1. 200,000 (Ordinary)
2. 70,000 (Special)
3. 52,000 (Medisave)

Medisave account untouchable unless for medical.

So i can get back (270 - 181k =) 89k right? At 55 year old?

Then after that how much i can back yearly on my 181,000 ???


Thanks in a advance.

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If you are PR, you can get back all the money in lump sum.
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Old 12-07-2018, 01:16 PM   #62
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CPF my money but I cannot take out. What logic
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Old 12-07-2018, 01:17 PM   #63
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CPF my money but I cannot take out. What logic
revoke your citizenship and never come back Singapore. then you can take out liao lor.
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Old 12-07-2018, 01:19 PM   #64
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Wtf no nomination still must pay so much?
The monies are being managed by Public Trustee Office, which is governed by the Ministry of Law.

You are paying the govt lawyers for legal documents like Grant of Probate or Letter of Administrator in order to claim the monies under the deceased person's estate at, a highly subsidised rate, if you qualify for the PTO assistance scheme.

Long story short: do your cpf nomination, your dependant protection scheme nomination, will, lpa, advanced medical directive etc.
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Old 12-07-2018, 01:32 PM   #65
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I max MA liao but too bad the excess go to SA, can't use to pay house loan.
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Old 12-07-2018, 01:32 PM   #66
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Example:

Govt said:
1. Min sum 181,000 (Ordinary+Special)

2. Medisave 52,000

If i got:
1. 200,000 (Ordinary)
2. 70,000 (Special)
3. 52,000 (Medisave)

Medisave account untouchable unless for medical.

So i can get back (270 - 181k =) 89k right? At 55 year old?

Then after that how much i can back yearly on my 181,000 ???


Thanks in a advance.

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Gov thanks you for handling your money to them to use whatever.

At least you invest.. your gain is yours which you can take out.
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Old 12-07-2018, 02:10 PM   #67
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You get nothing from 55 to 64

But if you want to die, die before you hit 65. At least your beneficiary will get a portion (but don't know how much) of the $181k. If you die after 65, what they get depends on the life plan you selected.
Start 55 ????

Not start 56 for $181,000 balance?

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Old 12-07-2018, 02:14 PM   #68
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So you mean from 56 yr old to 64 yr old, i will get nothing from the $181,000 retirement account ????????

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Yeah. That's the missing gap in CPF.

If you made enough to have your OA + SA significantly more than BRS or FRS, then you can use the lump sum for that 10 years.

IF you don't, good luck. Keep working.

That's kind of the general theme of Singapore 'welfare'.
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Old 12-07-2018, 02:20 PM   #69
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Example:

Govt said:
1. Min sum 181,000 (Ordinary+Special)

2. Medisave 52,000

If i got:
1. 200,000 (Ordinary)
2. 70,000 (Special)
3. 52,000 (Medisave)

Medisave account untouchable unless for medical.

So i can get back (270 - 181k =) 89k right? At 55 year old?

Then after that how much i can back yearly on my 181,000 ???


Thanks in a advance.

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Start to get around 1200 monthly after 65.
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Old 12-07-2018, 02:35 PM   #70
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Actually I also got a question.

Every year the minimum sum is changing and I am at my 30s.

Which minimum sum should I follow? The last minimum sum before I turn 55?
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Old 12-07-2018, 02:35 PM   #71
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Start 55 ????

Not start 56 for $181,000 balance?

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This is where you are alive for 55 years... on your 55th birthday.

On this date your CPF will auto created a new RA account for you.
The said amount of fund from OA + SA, if any, will be moved to the new RA account.

You may received CPF statement on this new RA Account.
And you would be advice on how much you can take out or not as indicated on the CPF letter.
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Old 12-07-2018, 02:59 PM   #72
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Actually I also got a question.

Every year the minimum sum is changing and I am at my 30s.

Which minimum sum should I follow? The last minimum sum before I turn 55?
Just take yearly increase of say 5k till at 55, est around 300k for min sum.
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Old 12-07-2018, 03:00 PM   #73
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Very easy math you also don't know. come I teach you.

At 55 years old,

OA + SA > Minimum Sum = (OA + SA) - Minimum Sum = what you get
OA + SA <= Minimum Sum but > $5,000 = $5,000
OA + SA < $5,000 = everything in OA + SA

You can choose NOT to withdraw the amount and invest it in CPF LIFE programme for higher payout.

Wait, that means

If minimum sum is 181k

Follow TS:
1. 200,000 (Ordinary)
2. 70,000 (Special)
3. 52,000 (Medisave)

at age 55, he can cash out 89k right?
and then at age 65, it's a monthly of 1.2k?
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Old 12-07-2018, 03:05 PM   #74
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Correct. Retirement age is after 65 years old, projected to raise again, and minimum sum is to be reviewed again too.

So from 55 to 65, u better have saving or suck thumb and continue working.

Btw, many people couldn't meet the minimum sum at 55 years old. They used their CPF to pay for housing loan and their children education.

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That's the whole point. Pap does not want the majority to meet the withdrawal amount, aka minimum sum, at 55 years, wanting to keep the amount locked up as long as possible.

Else why they raise the minimum sum by almost double of the average core inflation rate of Singapore.
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Old 12-07-2018, 03:05 PM   #75
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TS, by the time u are going 65, thinking that you will have a sum of money, gahmen change rule and increase min. age to 70. See u shiok or not. lol
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