CPF interest coming tonight

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KnyghtRyder

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lovemyself123 said:
Bro can i ask some noob questions

after 55, i thought the govt will wipe out all the RA to CPF life for monthly payout? How come can still have 441k in RA ?
Click to expand...
Depends what plan you choose it buys into the annuity at different amounts and with diff schedules.
 
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inmyopinion

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lovemyself123 said:
Bro can i ask some noob questions

after 55, i thought the govt will wipe out all the RA to CPF life for monthly payout? How come can still have 441k in RA ?
Click to expand...

No need worry about noob questions.

Part 1:
If you are 55 this year, CPF Board will only transfer FRS ($213K) from your SA (if not enough, it will take from OA) to RA. Let's assume you have more than $213K in SA.

So, you have $213K (FRS) in RA. Your SA will be closed. Whatever remaining amount will be transfer to OA.
If u do nothing, leave it there. After 10 years, when u r 65 yo. It will grow to $319,400
If you start CPF life payout at 65 yo, your monthly payout will be $1,730 (standard plan)

Note: CPF Board will not transfer more than the FRS ($213K) amount

Part 2:
If you think $1,730 per month, is not enough, you can then decide whether you want to transfer more money from OA to RA up to prevailing ERS ($426K in 2025). The earlier you transfer the better because it starts earning interest.

Let's say you want to top up to $426K (prevailing ERS in 2025), you need to transfer $213K from OA or cash.
You leave it there for 10 yrs, when u r 65 yo. It will grow to $628,600
If you start CPF life payout at 65 yo, your monthly payout will be $3,330 (standard plan)

Note: All these info are from CPF.

Part 3:
In 2026, the ERS is $440,800.
In Part 2: You have already top up till $426K (ERS for 2025)
Now, you can top up $14,800 to your ERS in 2026

Now you have $440,800 in RA
 
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inmyopinion

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inmyopinion said:
No need worry about noob questions.

Part 1:
If you are 55 this year, CPF Board will only transfer FRS ($213K) from your SA (if not enough, it will take from OA) to RA. Let's assume you have more than $213K in SA.

So, you have $213K (FRS) in RA. Your SA will be closed. Whatever remaining amount will be transfer to OA.
If u do nothing, leave it there. After 10 years, when u r 65 yo. It will grow to $319,400
If you start CPF life payout at 65 yo, your monthly payout will be $1,730 (standard plan)

Note: CPF Board will not transfer more than the FRS ($213K) amount

Part 2:
If you think $1,730 per month, is not enough, you can then decide whether you want to transfer more money from OA to RA up to prevailing ERS ($426K in 2025). The earlier you transfer the better because it starts earning interest.

Let's say you want to top up to $426K (prevailing ERS in 2025), you need to transfer $213K from OA or cash.
You leave it there for 10 yrs, when u r 65 yo. It will grow to $628,600
If you start CPF life payout at 65 yo, your monthly payout will be $3,330 (standard plan)

Note: All these info are from CPF.

Part 3:
In 2026, the ERS is $440,800.
In Part 2: You have already top up till $426K (ERS for 2025)
Now, you can top up $14,800 to your ERS in 2026

Now you have $440,800 in RA
Click to expand...

Once you know the RA amount you have.
You then decide when you want to start CPF Life and what plan you want.

Start CPF Life when : Between 65 to 70. Eg. you can start at 68 if you want. If you dont choose, it will start at 70 by default.

Type of plans: Basic, Standard, Escalating.
The type of plan is choose got pros and cons.
You can read up more.
 
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inmyopinion

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inmyopinion said:
Employment contribution + bonus.
Put T-bills. Now no more put T-bills.
Click to expand...


I don't ask her on her CPF balances. I also dont keep track & bo chap.

Just happened that day she asked me do check something. Then i screenshot.

Since someone posted, i also naughty naughty post. If she finds out, then i need to sleep in the couch liao.
 
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inmyopinion

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compro_1975 said:
Is it in short these people with 441k inside chose basic?
Click to expand...

If you think you will RIP around mid 80s or earlier, u choose CPF Life basic plan.

If you think you can live till 80+ 90+, u can choose standard plan and take advantage of it.

If you are like Dr M, u choose escalating plan and take advantage of almost every one. Receive payout until u buay lin chu.
 
fandango

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inmyopinion said:
I don't ask her on her CPF balances. I also dont keep track & bo chap.

Just happened that day she asked me do check something. Then i screenshot.

Since someone posted, i also naughty naughty post. If she finds out, then i need to sleep in the couch liao.
Click to expand...
Your wife chio or not?
 
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KnyghtRyder

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inmyopinion said:
No need worry about noob questions.

Part 1:
If you are 55 this year, CPF Board will only transfer FRS ($213K) from your SA (if not enough, it will take from OA) to RA. Let's assume you have more than $213K in SA.

So, you have $213K (FRS) in RA. Your SA will be closed. Whatever remaining amount will be transfer to OA.
If u do nothing, leave it there. After 10 years, when u r 65 yo. It will grow to $319,400
If you start CPF life payout at 65 yo, your monthly payout will be $1,730 (standard plan)

Note: CPF Board will not transfer more than the FRS ($213K) amount

Part 2:
If you think $1,730 per month, is not enough, you can then decide whether you want to transfer more money from OA to RA up to prevailing ERS ($426K in 2025). The earlier you transfer the better because it starts earning interest.

Let's say you want to top up to $426K (prevailing ERS in 2025), you need to transfer $213K from OA or cash.
You leave it there for 10 yrs, when u r 65 yo. It will grow to $628,600
If you start CPF life payout at 65 yo, your monthly payout will be $3,330 (standard plan)

Note: All these info are from CPF.

Part 3:
In 2026, the ERS is $440,800.
In Part 2: You have already top up till $426K (ERS for 2025)
Now, you can top up $14,800 to your ERS in 2026

Now you have $440,800 in RA
Click to expand...
Nice summary.
 
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inmyopinion said:
If you think you will RIP around mid 80s or earlier, u choose CPF Life basic plan.

If you think you can live till 80+ 90+, u can choose standard plan and take advantage of it.

If you are like Dr M, u choose escalating plan and take advantage of almost every one. Receive payout until u buay lin chu.
Click to expand...
Some ppl don't even get to live to be 65 gone liao no take cpf life mthly payout
 
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inmyopinion

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Kiaokarhio said:
Some ppl don't even get to live to be 65 gone liao no take cpf life mthly payout
Click to expand...

Yes. chamz. work so hard for most of the years, and should be enjoying the fruits.

Try to achieve FRS & take out the excess money after 55 and spend wisely.

If too bad rip b4 CPF life payout, at least the wife/children or nominees can inherit his cpf savings.

If can live enough to enjoy CPF life payout, then it’s the extra bonus.

I have shared before, my goals/plan, retire at 55 yo.
Slowly drawdown OA from 55-65. SRS payout from 62. CPF Life from 65. This excludes whatever other savings etc .
 
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