CPF interest coming tonight

[DragonFire]

Tiagong some pple got kungfu to get 7k mthly cpf life standard by topping up to yearly ers + defer to 70yo. Wonder what gurus here think about it

You gotta make a determination whether or not it is feasible based on your own circumstances. I for one am planning to see how far I can take it. A min maxing game if you will.

 

[inmyopinion]

Is this before or after 55?

No more SA after 55.

Right b4 55, u shield your SA.
After 55 , RA is only 60K. Then u top up with cash, up to FRS.

 

[DragonFire]

No more SA after 55.

Right b4 55, u shield your SA.
After 55 , RA is only 60K. Then u top up with cash, up to FRS.

You actually have to shield both OA and SA.

 

[inmyopinion]

You actually have to shield both OA and SA.

Yes.
My initial post already mentioned.
Which is why CPFB can move 20K (OA) and 40K (SA) to RA

https://forums.hardwarezone.com.sg/threads/cpf-interest-coming-tonight.6438635/post-158168874

 

[fandango]

I tell my wife i retire first. LOL.
She can continue to build her CPF funds.

You need a son?

 

[fandango]

Follow your 'friend'.

What is your wife's occupation?

 

[KnyghtRyder]

No more SA after 55.

Right b4 55, u shield your SA.
After 55 , RA is only 60K. Then u top up with cash, up to FRS.

Then you are actually doing an additional top up to the RA. Which means when you unshield the money will stay in RA. It won't go to OA.

 

[inmyopinion]

Yes. Every year u defer, your monthly payout will increase by up to 7%.

And you top up to prevailing ERS for each year.

That will be tok kong payout. Crazy payout per month as long as u live.

https://www.cpf.gov.sg/service/article/what-is-the-enhanced-retirement-sum-ers
ERS 2026 = 440,800 (can top up 14.8K)
ERS 2027 = 456,400 (can top up 15.6K)

Keep topping up prior payout.

When comes to payout from 65-70, the monthly payout is scary. LOL

 

[inmyopinion]

Then you are actually doing an additional top up to the RA. Which means when you unshield the money will stay in RA. It won't go to OA.

How is my unshield amount go to RA when my RA is at FRS?

 

[inmyopinion]

What is your wife's occupation?

Finance.

 

[KnyghtRyder]

How is my unshield amount go to RA when my RA is at FRS?

Because after 55 the RA can be topped up beyond FRS

 

[snowcrabramyeon]

Tiagong some pple got kungfu to get 7k mthly cpf life standard by topping up to yearly ers + defer to 70yo. Wonder what gurus here think about it

It is mathematically impossible to get 7k monthly CPF Life standard payout for cohorts reaching 70yo in 2025. Can't be done. Those who tell you they reached, ask them to show you proof.

 

[KnyghtRyder]

How is my unshield amount go to RA when my RA is at FRS?

I see what you mean now. Will go study this option further. Though in my case I doubt I would need it since I can always do VHR if I want more money in my OA

 

[inmyopinion]

Because after 55 the RA can be topped up beyond FRS

No. Topping up beyond FRS is optional.
CPFB only cares about FRS.

 

[seowbin]

So, 1 mil in OA is doable.
Can even meet ERS.

No need top up SA since young.

CPF is good for your retirement.

If SA not full , how OA become 1m unless use OA to do investment ?

 

[Thoreldan]

You actually have to shield both OA and SA.

So this is a way to inject more cash into the cpf system right ?

 

[DragonFire]

It is mathematically impossible to get 7k monthly CPF Life standard payout for cohorts reaching 70yo in 2025. Can't be done. Those who tell you they reached, ask them to show you proof.

Probably not 2025 but 2045 or 2055.
These are the fellows making plans.

 

[inmyopinion]

It is mathematically impossible to get 7k monthly CPF Life standard payout for cohorts reaching 70yo in 2025. Can't be done. Those who tell you they reached, ask them to show you proof.

If you join CPF life with 1.5 mil, monthly payout is $7,840 (standard plan/male) at 65.
If starts payout at 70, join CPF Life with 1.3 mil , payout is $7,440 (male, standard plan)

So, the member can continue to top up to prevailing ERS each year.
The compounding interest is tok kong

You can play around with the CPF calculator
https://www.cpf.gov.sg/payoutestimator

 

[DragonFire]

So this is a way to inject more cash into the cpf system right ?

It is a way to fatten the OA with cash to earn a solid 2.5% almost risk free. Bear in mind OA can be withdrawn at will at that point since the member will have FRS at bare mininum.

 

[inmyopinion]

So this is a way to inject more cash into the cpf system right ?

Injecting cash:
- VHR. Earns 2.5%
- Shield SA and move to OA. Earns 2.5% instead of 4%
- top up RA up to prevailing FRS or ERS every year