CPF Easy Info Thread. :)

[highsulphur]

You got do RSTU or VC?


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nope........

 

[crimsontactics]

nope........

Wah you high income?

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[highsulphur]

Wah you high income?

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median la.....

 

[crimsontactics]

median la.....

How to get 500k sia?

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[apatheticme]

How to get 500k sia?

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Median... household income by himself

But seriously, I just did some rough calculations and it does look possible with median income, but you just can't use it for housing.

 

[crimsontactics]

Median... household income by himself

But seriously, I just did some rough calculations and it does look possible with median income, but you just can't use it for housing.

I see...

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[elnewbie]

There's another hack which my wife uses. Her MA already hit the limit. So After VC, she then does an OA to SA transfer. This is not considered as under the RSTU, so funds won't be locked up when you turn 55.

This is one good way of doing a "VC to SA only"

Yes.

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[elnewbie]

To be precise, it's 65 not 55. BHS will continue to increase till the year you turn 65.

For those of you who are going along the VC to MA strategy here, I'd like to point out that you can still top up once a year, subject to the contribution cap, even if your MA might be maxed out already.

This is because, technically, your MA will never be truly maxed out until you reached 55.
The BHS is adjusted upwards yearly, but because CPF credits our interest for each account at the end of the year, the interests from the maxed out MA account is moved out before the new year. It won't stay in the MA to fill up the new ceiling.
So on 1st Jan each year, the ceiling for the MA is adjusted upwards and will allow incoming contributions again until the new ceiling is hit. You can top the difference between the new and old ceiling.
The adjustment is usually around $2k - $2.5K.

 

[elnewbie]

To be frank, by the time your SA balance hits FRS, your salary would have probably reached a level where you are no longer eligible to do VC. Unless you're those buay kan types at work.

Thanks!

Going to VC after I hit FRS.

Then use my OA funds to invest in stocks.

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[elnewbie]

See my wife's strategy in post 127.

How do you do VC to SA only after FRS is met?

I've always thought that voluntary SA contributions are maxed out at FRS.

Can someone clarify?

 

[bladez87]

I am confused.
VC cap is at 37k.
There are 2 vc, 1 is vc to ma, tax deductible.
2nd is vc to all 3 accounts, non tax deductible.
It seems you guys are doing vc to all 3?

And I second the idea that we will reach a stage where we cannot vc anymore if our career is progressing properly. The magic income number for this to happen is 104k PA.

You guys can use my excel sheet to calculate the fv of your cpf.

 

[The_Davis]

To be frank, by the time your SA balance hits FRS, your salary would have probably reached a level where you are no longer eligible to do VC. Unless you're those buay kan types at work.

Roughly what salary would hit this 37k limit?

 

[bladez87]

Roughly what salary would hit this 37k limit?

104k..........

 

[elnewbie]

6k per mth with 5 mths bonus

Roughly what salary would hit this 37k limit?

 

[elnewbie]

What I referred to in post 127 is VC to all 3 accounts. But because the MA BALANCE is already maxed out, whatever that would have gone into MA now goes into SA.

Next step is to then do a OA to SA transfer.

Hope this clarifies.

I am confused.
VC cap is at 37k.
There are 2 vc, 1 is vc to ma, tax deductible.
2nd is vc to all 3 accounts, non tax deductible.
It seems you guys are doing vc to all 3?

And I second the idea that we will reach a stage where we cannot vc anymore if our career is progressing properly. The magic income number for this to happen is 104k PA.

You guys can use my excel sheet to calculate the fv of your cpf.

 

[henrylbh]

Roughly what salary would hit this 37k limit?

Depends on age and the additional wage.

 

[winguy]

Hi i wish to know what happens when you do property charge and then pass away. Thanks

 

[henrylbh]

Hi i wish to know what happens when you do property charge and then pass away. Thanks

Nothing will happen to your property. It will go to the joint owner or your estate unencumbered.

 

[a4973]

What I referred to in post 127 is VC to all 3 accounts. But because the MA BALANCE is already maxed out, whatever that would have gone into MA now goes into SA.

Next step is to then do a OA to SA transfer.

Hope this clarifies.

what if at this time SA is also maxed?

 

[bladez87]

What I referred to in post 127 is VC to all 3 accounts. But because the MA BALANCE is already maxed out, whatever that would have gone into MA now goes into SA.

Next step is to then do a OA to SA transfer.

Hope this clarifies.

O ya. But if we have not max ma, we should choose vc to ma first. Upon maxing ma, we are only left with vc to all 3.

So to maximize sa contributions, vc to ma, then vc to all 3.