Discussn CPF : Anyone alredy reached ERS ($450k) or topping up FRS to ERS ?

[socratesg]

Just crossed 40 milestone.

Though I have reached CPF FRS and a biz owner, I am wondering if I shd continue to contribute or top up my FRS to ERS of $450K. The interest for ERS is not bad, I think annual 4% rite ? Also completely risk free. So after 65yo, it will becum CPF Life and I can get min $3K/mth payout for life.

Anyone alredy reached ERS ?

 

[lls0101]

Just crossed 40 milestone.

Though I have reached CPF FRS and a biz owner, I am wondering if I shd continue to contribute or top up my FRS to ERS of $450K. The interest for ERS is not bad, I think annual 4% rite ? Also completely risk free. So after 65yo, it will becum CPF Life and I can get min $3K/mth payout for life.

Anyone alredy reached ERS ?

The interest of RA, OA and SA is the same regardless if you choose FRS or ERS.

If you like more payout than standard FRS payout, then top up. Hard to comment since everyone have their own preference and requirements.

 

[Guojing88]

Considering all the scams going on nowadays, its a good idea to use cash to top up your RA to ERS, after it extracts the FRS from your CPF accounts.

Then leave the rest of OA as a bank account.

I am 52 now and I plan to do that at 55, and every year after that

 

[batdow]

the key question is how many years do i have after 65.

 

[crimsontactics]

Just crossed 40 milestone.

Though I have reached CPF FRS and a biz owner, I am wondering if I shd continue to contribute or top up my FRS to ERS of $450K. The interest for ERS is not bad, I think annual 4% rite ? Also completely risk free. So after 65yo, it will becum CPF Life and I can get min $3K/mth payout for life.

Anyone alredy reached ERS ?

No moi haven't reached ERS yet Bro socratesg...

 

[Itsthatguy]

Considering all the scams going on nowadays, its a good idea to use cash to top up your RA to ERS, after it extracts the FRS from your CPF accounts.

Then leave the rest of OA as a bank account.

I am 52 now and I plan to do that at 55, and every year after that

With scams why not put in FD still can draw out unlike CPF life, die leow balance go common pool and descendants can't get any of the balance in the ERS.

 

[socratesg]

Considering all the scams going on nowadays, its a good idea to use cash to top up your RA to ERS, after it extracts the FRS from your CPF accounts.

Then leave the rest of OA as a bank account.

I am 52 now and I plan to do that at 55, and every year after that

Hmm...You mean extract before 65yo ?

I think once you committed to ERS at 65yo and it becum CPF Life, you can't extract it anymore coz it goes to a common pool. It's locked and a monthly payout will ensue.

 

[mcylo]

Reach frs liao……at the moment stick to frs first.

excess Cpf money buy dividend yielding stocks

 

[socratesg]

Reach frs liao……at the moment stick to frs first.

excess Cpf money buy dividend yielding stocks

Wow congrats !

 

[qhong61]

Just crossed 40 milestone.

Though I have reached CPF FRS and a biz owner, I am wondering if I shd continue to contribute or top up my FRS to ERS of $450K. The interest for ERS is not bad, I think annual 4% rite ? Also completely risk free. So after 65yo, it will becum CPF Life and I can get min $3K/mth payout for life.

Anyone alredy reached ERS ?

Pls do if u have spare cash

 

[eggie011]

With scams why not put in FD still can draw out unlike CPF life, die leow balance go common pool and descendants can't get any of the balance in the ERS.

Er, don't anyhow say. Balance in CPF Life goes to beneficiaries. Only the interest is left in the pool.

 

[Gondon72]

With scams why not put in FD still can draw out unlike CPF life, die leow balance go common pool and descendants can't get any of the balance in the ERS.

Sure boh?

Your CPF LIFE premium balance, which is the total CPF LIFE premium that you have paid minus the total payouts you have received, will also be distributed to your nominee(s) together with any remaining CPF savings.

 

[Guojing88]

Hmm...You mean extract before 65yo ?

I think once you committed to ERS at 65yo and it becum CPF Life, you can't extract it anymore coz it goes to a common pool. It's locked and a monthly payout will ensue.

I am talking about 55, when your RA is formed, it will extract the FRS from your SA, then your OA.

 

[Guojing88]

With scams why not put in FD still can draw out unlike CPF life, die leow balance go common pool and descendants can't get any of the balance in the ERS.

If you are talking about now, OA 2.5% beats all FD you can find in the market.

 

[yokine3a]

Already reached frs, intention to go ers is not high. When I am tired with managing own investment n no energy to monitor stock market everyday, then will consider it.

 

[dry_county]

Just realized that my OA reached ERS liao. But I’m going to choose FRS.

 

[Laguna123]

Recently the SQ pilot up lorry at 55yo, dunno he got smell the CPF anot?

 

[dev_stg_prd]

The interest of RA, OA and SA is the same regardless if you choose FRS or ERS.

If you like more payout than standard FRS payout, then top up. Hard to comment since everyone have their own preference and requirements.

what abt brs + bequest HDB ah?

 

[aarontansp]

Just crossed 40 milestone.

Though I have reached CPF FRS and a biz owner, I am wondering if I shd continue to contribute or top up my FRS to ERS of $450K. The interest for ERS is not bad, I think annual 4% rite ? Also completely risk free. So after 65yo, it will becum CPF Life and I can get min $3K/mth payout for life.

Anyone alredy reached ERS ?

Not gonna lock up my money in ERS and live on a monthly payout.

 

[Itsthatguy]

Sure boh?

Your CPF LIFE premium balance, which is the total CPF LIFE premium that you have paid minus the total payouts you have received, will also be distributed to your nominee(s) together with any remaining CPF savings.

yah. you tio.