CPF interest coming tonight

[testerjp]

Wages earned CPF
SA stays in SA
MA that overflows goes where?

MA -> SA -> OA (if current year SA FRS limit reached)

https://www.cpf.gov.sg/service/arti...happens-to-the-savings-in-my-ma-above-the-bhs

In other words, all excess or interest earned from MA goes to OA if BHS and FRS hit.

This means the SA grows very slowly after FRS + BHS hit since it can only be grown by the SA component, no longer pushed by the MA spillovers.

The OA will on the other hand grow quite rapidly, no wonder people has so much excess to buy more expensive HDB, to HDB advantage i guess.

 

[weng0202]

It seems like ur not very educated in finance yet still want to act wise guy

Do you know you can sell 30 year bond at any time for liquidity at any time? So what you said about OA being able to do many things also applies to 30 year bond because u can sell the bond for money

#2 Singapore has fixed exchange rate and no capital controls. This means it effectively outsource interest rates to other countries. Which means if US has higher interest rate, people will put their money there by selling SGD and buying USD

Do u know why interest rates in Singapore are down now and up in the past?

Because USA increase and decrease interest rate so it's apple to apple comparison. Don't try to act smart when u clearly don't know what ur talking about

CPF works differently so don't compare with other investment vehicles.

 

[wutawa]

late 30s

Ordinary Account (OA)

$311,396.15​

Special Account (SA)

$247,769.32​

MediSave Account (MA)

$79,000.00​

interest 19.4k

how come your ma so high? did u log in cpf check?

 

[fandango]

It can be a way but if you objective is only to make money, you are better off marrying a capable and rich wife. Marrying a Malaysian girl just to have some cheaper retirement plan is rather myopic, though not wrong.

But Malaysian girls more chio lehhhhhhh. Last November I visited Ipoh. Wah lao, the random girl at the coffee shop making kopi is sibei chio.

 

[coyote]

But Malaysian girls more chio lehhhhhhh. Last November I visited Ipoh. Wah lao, the random girl at the coffee shop making kopi is sibei chio.

By all means, get an Ipoh girl. Best of luck.

 

[weng0202]

ya, i think so, it was 206k before interest, interest about 10k.

But then that raise another question, so interest that exceeds FRS won't stay in SA i guess.
Wages CPF receiveable i am not sure either

Once reach FRS for SA, interests from MA and contributions to MA goes to OA. Interests for SA and contributions to SA continues to go to SA.

 

[weng0202]

how come your ma so high? did u log in cpf check?

He topped up to the new BHS today.

 

[inmyopinion]

how come your ma so high? did u log in cpf check?

he topped up this morning

 

[fandango]

By all means, get an Ipoh girl. Best of luck.

I cannot already.....

 

[KnyghtRyder]

To be clear.

For below 55 + FRS + BHS hit.

Wages earned CPF
SA stays in SA
MA that overflows goes where?

The interest earned on 1 Jan
Will the SA interest stay in SA?

Ma overflow to OA.
SA interest stays in SA

 

[jywy2005]

Those who are still working above 55 yo, When SA is closed, do you manually transfer some funds from OA to your RA (in lieu of the contribution to SA)?

 

[KnyghtRyder]

how come your ma so high? did u log in cpf check?

Because he did voluntary contribution to MA

 

[Enclave]

In other words, all excess or interest earned from MA goes to OA if BHS and FRS hit.

This means the SA grows very slowly after FRS + BHS hit since it can only be grown by the SA component, no longer pushed by the MA spillovers.

The OA will on the other hand grow quite rapidly, no wonder people has so much excess to buy more expensive HDB, to HDB advantage i guess.

Exactly, OA is wiped out by buying HDB so it's not bad now it goes to OA with the spill over once FRS is hit.

 

[inmyopinion]

Those who are still working above 55 yo, When SA is closed, do you manually transfer some funds from OA to your RA (in lieu of the contribution to SA)?

Majority here is below 55
You can top up RA either by transferring from OA to RA or cash top up - if you want higher CPF life monthly payout.

It all depends on how much u want per month.

 

[compro_1975]

Eh where are those people who quite angry with me when I say 400k in cpf is majority at 40years old? I wish they also post their cpf account as an inspiration

 

[undiscern]

Myself - CPF total $600k (interest $21k credited today)
Spouse - CPF total $500k (interest $16k credited today)

Both have met FRS already and we are few years shy of 50yo.

Yes cpf used for two properties in case wondering if it's being used

 

[nujiln]

yes, this scenario is a more realistic reference for someone younger like me.

i intend to use my excess OA funds either for investing now, or for property in the future. not intending to top up because the tax relief is negligible and i think i can get much higher long term returns elsewhere.

I prefer having liquidity so was ok forgo the tax relief. I did start contributing to SRS though. For now, I think FRS is sufficient for my wife and I. Will decide whether to top up to ERS when we hit 55.

 

[Senfai]

Majority here is below 55
You can top up RA either by transferring from OA to RA or cash top up - if you want higher CPF life monthly payout.

It all depends on how much u want per month.

hehe only a matter of time before majority here is above 55

 

[HelloEllo]

You single?
Merid already?
Have gf?
Have chewren?
Have flat?
Have condo?
If have gf, gf chio or not?

Yes, no, no,no,no,no

 

[sg_lancelot]

See sho many people get more CPF interest more than moi. Ish Jin muddy.

35 years old. 100+k used for housing