Topping up of CPF Account

[wts2013]

Feeling rich today?

CPF interest all in?

hahaha no have, need to wait till 4th working day, only one account is in, hahaha

 

[Wryer]

Got a question - my parents are retired and they have been paying cash for their HDB monthly repayment. The loan has abit 8 more months to go (approx 10k), for which i would like to pay on their behalf via my CPF. Is it even possible? Whether directly through my CPF or topping up their OA for repayment?

I am servicing HDB loan via CPF my own flat too.

 

[henrylbh]

hahaha no have, need to wait till 4th working day, only one account is in, hahaha

Note the amount today if it's in. The one that's in will be corrected later on.

 

[henrylbh]

Got a question - my parents are retired and they have been paying cash for their HDB monthly repayment. The loan has abit 8 more months to go (approx 10k), for which i would like to pay on their behalf via my CPF. Is it even possible? Whether directly through my CPF or topping up their OA for repayment?

I am servicing HDB loan via CPF my own flat too.

You can't use your CPF to pay for their housing loan.

Doesn't make sense to top up their OA and then use their OA to pay the loan. Give them cash directly to pay as they do normally.

 

[Wryer]

You can't use your CPF to pay for their housing loan.

Doesn't make sense to top up their OA and then use their OA to pay the loan. Give them cash directly to pay as they do normally.

If it's not administratively possible, then my last resort is to give them cash. But I just thought it will be better to use my CPF since I have no immediate use for it, whereas my hard cash can be vested elsewhere.

 

[highsulphur]

If it's not administratively possible, then my last resort is to give them cash. But I just thought it will be better to use my CPF since I have no immediate use for it, whereas my hard cash can be vested elsewhere.

You forgot the mantra "cpf is not your money". At least not until you are 55

 

[henrylbh]

You forgot the mantra "cpf is not your money". At least not until you are 55

Still your money. Can use to buy shares, gold, pay for housing and education etc. or quit the country if you really not happy that they do not allow cash withdrawal. Buying house to collect rent is raiding your CPF. They should pass rules to make profit from sale of properties, if not rent from subletting, to go back to CPF like those who use CPF to buy shares.

 

[chiokcc]

Top up CPF early to try to earn the interest for as many days as possible for the new year, especially for those above 55

https://www.cpf.gov.sg/members/News/news-categories-info/news-releases/2320

 

[wts2013]

Top up CPF early to try to earn the interest for as many days as possible for the new year, especially for those above 55

https://www.cpf.gov.sg/members/News/news-categories-info/news-releases/2320

hahaha above 55 can only topup RA, does it make sense to topup? Unless below min? hahaha

 

[mcylo]

You forgot the mantra "cpf is not your money". At least not until you are 55

As of now is 55, looking at how gov shift their goalpost, i wont be surprise if its delayed to an older age so that ordinary folks have "enuff for retirement"

 

[chiokcc]

hahaha above 55 can only topup RA, does it make sense to topup? Unless below min? hahaha

Top-up for parents, parents-in-law, etc.

 

[wts2013]

As of now is 55, looking at how gov shift their goalpost, i wont be surprise if its delayed to an older age so that ordinary folks have "enuff for retirement"

hahaha highly unlikely they will the change the first gate at 55, cos there are other controls/gates: they only change the min sum and CPF Life entry/payout age is good enough, hahaha

 

[mcylo]

I m not as optimistic as u

Still have many years to go.....haiz

 

[wts2013]

I m not as optimistic as u

Still have many years to go.....haiz

hahaha, we just need to use our Head to think based on the rules defined, as I said there are many gates behind the 55 gate for the gahmen to take action, since when did the gahmen change the 55 rule since inception? hahaha

 

[Wryer]

You forgot the mantra "cpf is not your money". At least not until you are 55

the debate about whether CPF belongs to ourselves will never end. Just thinking of ways of maximize its usage.

So i guess there's no way I can use my CPF to help my parents pay their Hdb even for 6 months period. Damn

 

[henrylbh]

Before end Jan, may be going to make a rather silly move by topping up my CPF with 52k - 37k being the annual limit and 15k being refund of housing loan, excluding accrued interest of $722. Then transfer the same to my father RA to earn 4% interest.

 

[tiny]

Some people's interests have been credited today (3 Jan). Some got the "4 working days notice" message. Weird that it is not standardised across the accounts.

Here is screenshot of one of the HWZ forumer's CPF interest being credited. Not mine hor. I not so elite:

This year got about 9k of interest, 10k maybe next year.

 

[iMac]

I just log in into CPF website...cannot access 2015 statement...anyone facing same problem?

 

[kage]

Some people's interests have been credited today (3 Jan). Some got the "4 working days notice" message. Weird that it is not standardised across the accounts.

Here is screenshot of one of the HWZ forumer's CPF interest being credited. Not mine hor. I not so elite:

U got more money, so need more time to calculate for u ...

 

[bazingaman]

got mine (probably less money category) and no probs with 2015 statement.