CPF SA Shielding hack - RIP (Obsolete)

[chopra]

think both sides have fair points. we shld not digress further. thanks.

 

[lyndonmaxewell]

What is the maximum amt we can shield in our SA?

Hi mummy, there is no max to how much you can shield. You cannot shield the first 40K in SA only.

 

[lyndonmaxewell]

Is it better to SA top up S$7k yearly for income tax rebate or transfer OA to SA to hit FRS when in mid 40s?

I will do both actually. Main aim is to build up SA as quickly as possible and let the interest compound. After which can deploy cash else where

 

[mummy1234]

I will do both actually. Main aim is to build up SA as quickly as possible and let the interest compound. After which can deploy cash else where

I can transfer OA to SA to hit FRS now but I then won't be able to do SA top up anymore. And problem is I don't have CPF contributions as self employed to get more into SA. Can only contribute to SRS for tax relief and buy annuities?

 

[henrylbh]

I can transfer OA to SA to hit FRS now but I then won't be able to do SA top up anymore. And problem is I don't have CPF contributions as self employed to get more into SA. Can only contribute to SRS for tax relief and buy annuities?

Do it if you see no use at all for OA.

 

[mummy1234]

Do it if you see no use at all for OA.

Standby for housing and kids education? But only transfer S$30k can hit already. This year FRS is S$176k?

 

[maple96]

I can transfer OA to SA to hit FRS now but I then won't be able to do SA top up anymore. And problem is I don't have CPF contributions as self employed to get more into SA. Can only contribute to SRS for tax relief and buy annuities?

U are a self employed, your CPF is within your own control, how much u want to contribute every year (subject to limits), but u have your priorities where u want your monies to go and grow

 

[henrylbh]

Standby for housing and kids education? But only transfer S$30k can hit already. This year FRS is S$176k?

No cash for these meh.

 

[mummy1234]

No cash for these meh.

Yeah, since it is only S$30k transfer might as well do it early to get more interest and let it compound.

 

[JQ2019]

I thought those money from top up to SA cannot invest? If cannot invest means cannot shield right?

 

[KeytoFreedom]

1. Maximising CPF Special Account Savings
2. Topping up to Enhanced Retirement Sum
3. Dad's CPF RA as an investment tool
4. Voluntary property refunds to CPF accounts

Wow thanks! Does it mean we can use cash to "refund" the cpf amount used to purchase property? Can we do so even if we have not sold the property?

Sent from OnePlus ONEPLUS A5010 using GAGT

 

[highsulphur]

Wow thanks! Does it mean we can use cash to "refund" the cpf amount used to purchase property? Can we do so even if we have not sold the property?

Sent from OnePlus ONEPLUS A5010 using GAGT

Yes you can use cash to repay cpf funds that were used for mortgage payments

 

[raintr33]

If we pledge our property to meet FRS, and after shielding the SA from being transferred to RA, can we then cash out the SA fund?



Posted from PCWX using Mi 9T

 

[dork32]

I can transfer OA to SA to hit FRS now but I then won't be able to do SA top up anymore. And problem is I don't have CPF contributions as self employed to get more into SA. Can only contribute to SRS for tax relief and buy annuities?

this shielding is done for people with a lot of oa.

it is good for employed workers like me or uncle kenny

if you shield and you cannot get your brs/frs in your ra, they may force you to use your sa to make up for the ra when the money comes back. this defeats the purpose of shielding.

 

[dork32]

If we pledge our property to meet FRS, and after shielding the SA from being transferred to RA, can we then cash out the SA fund?



Posted from PCWX using Mi 9T

the idea of shielding is that bulk of our cpf remains in the sa to earn 4%.

Yes you can shield and then withdraw when the money comes back
you can also dont shield and withdraw the same amount after the ra is formed.

 

[dork32]

not in one day in my work for more than 10 years, I am required to use excel, even once.

i have mentioned. construction workers do not use excel their whole life.

you probably do not have to work in an office or have secretary to do your admin for you. the vast majority of office work requires you to use excel at some point of time.

 

[mummy1234]

Since we still have SA after 55 years old, even if we don't shield, don't we still earn 4%?

 

[henrylbh]

Since we still have SA after 55 years old, even if we don't shield, don't we still earn 4%?

Don't bother. By the time you reached 55, the door is closed.

 

[dork32]

Since we still have SA after 55 years old, even if we don't shield, don't we still earn 4%?

just to show you the effects of shield

just before 55,
you have 200k oa and 200k sa and frs is 180k

if you dont shield
you have 200k oa, 20k sa and 180k ra

if you shield,
you have 60k oa, 160k sa and 180k ra

get it?

 

[mummy1234]

just to show you the effects of shield

just before 55,
you have 200k oa and 200k sa and frs is 180k

if you dont shield
you have 200k oa, 20k sa and 180k ra

if you shield,
you have 60k oa, 160k sa and 180k ra

get it?

Ok, I get it now.