For those reaching 55 on 2025, will you be topping up your ERS to max. i.e 4x of BRS?

[eAtNeAt]

The medisave increase is insane!
Oyk really screws sinkies badly

 

[The_Davis]

I probably FRS and take out the rest.

Why FRS?
Why not BRS?

 

[kinbalight]

Are the amounts hard fixed at BRS, FRS and ERS?

Example if have more than FRS, but unable to hit ERS

 

[The_Davis]

My understanding is that now it doesn't work that way.. you cannot 'opt' for BRS. No matter what at 55 the FRS will be extracted and used to create the RA. You can at that point initiate a withdrawal up to the BRS if you have sufficient property pledge. But if you withdraw then you can't put it in OA to earn interest liao.

Can do property pledge at age 55?

 

[fandango]

Can do property pledge at age 55?

Try not too. Pledging property is a black hole. The policies pertaining to this is very weird

 

[fandango]

Are the amounts hard fixed at BRS, FRS and ERS?

Example if have more than FRS, but unable to hit ERS

Can you elaborate your question?

 

[ramlee]

Some of the 61% are $uckers for pain mah

I can’t decide whether it’s pleasure or pain

 

[ramlee]

just hit FRS is enough. don't put so much in ers, we never know what goalpost they gonna change. they can remove the SA at 55yo recently overnight no one can say anything.

with 4% at least many will keep in sa, now have to decide what to do w it.

Invest in Endowus

 

[The_Davis]

Try not too. Pledging property is a black hole. The policies pertaining to this is very weird

What you mean by weird?

 

[ramlee]

dont aim BRS.
Less than 1k.

not enough for monthly expenses.
factoring the annual inflation

Can sell tissue outside mrt station

 

[fandango]

What you mean by weird?

For example, if you pledge the flat, what happens to the monies if you sell the pledged flat.

Or, if you die, what happens to the pledged flat.

Or if you apply to the the HDB lease buyback of your pledged flat, how does it work?

Or, if you want to let your child inherit your flat, what happens to the pledged flat?

 

[buttbERry]

seems like quite a number will still top up medisave in Jan

 

[jumpthepig]

FRS 213k, ERS 426k. Payout ERS is 3330,

Btw ERS 426k are not a lot of money….try ask those CPF millionaires… especially those 1M55, 2M60 or 4M65 people….these people will likely have more than 5k p/m when they retire…

 

[The_Davis]

Can sell tissue outside mrt station

Need license

 

[The_Davis]

For example, if you pledge the flat, what happens to the monies if you sell the pledged flat.

Or, if you die, what happens to the pledged flat.

Or if you apply to the the HDB lease buyback of your pledged flat, how does it work?

Or, if you want to let your child inherit your flat, what happens to the pledged flat?

All these worry later.
Money in hand is worth 2 in RA

 

[popdod]

For example, if you pledge the flat, what happens to the monies if you sell the pledged flat.

Or, if you die, what happens to the pledged flat.

Or if you apply to the the HDB lease buyback of your pledged flat, how does it work?

Or, if you want to let your child inherit your flat, what happens to the pledged flat?

pledged flat is usually for singles. Or folks don’t intend to leave any inheritance to their chewren.

 

[fandango]

pledged flat is usually for singles. Or folks don’t intend to leave any inheritance to their chewren.

My guess is that increasingly, more will no choice pledge their hdb because cannot hit FRS. Flats so expensive.

 

[popdod]

My guess is that increasingly, more will no choice pledge their hdb because cannot hit FRS. Flats so expensive.

And dont forget once u grow old rike me.
you just prefer familiarity around u. Surroundings , food , people , amenities.

u no longer keen to move house, hassles and getting know new neighbors.

 

[nyvrem]

dont depend on cpf for retirement

 

[ramlee]

And dont forget once u grow old rike me.
you just prefer familiarity around u. Surroundings , food , people , amenities.

u no longer keen to move house, hassles and getting know new neighbors.

But edmwers many many said they want to stay 6 months ok different counties