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Good idea to top up into CPF special account?

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Old 08-11-2019, 11:44 PM   #1
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Good idea to top up into CPF special account?

I would like to ask the specialist here about topping up cash to CPF special account.
Can we top up more than minimum sum?
CPF board once minimum sum is hit, any access will be withdrawable.
Can we withdraw the excess at anytime after 55?
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Old 09-11-2019, 09:12 AM   #2
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You can only Top up until FRS if you are below 55.
If you meet the requirement at 55 after setting aside your RA you can withdraw the balance in Oa and sa but not the Ma.
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Old 09-11-2019, 09:16 AM   #3
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I would like to ask the specialist here about topping up cash to CPF special account.
Can we top up more than minimum sum?
CPF board once minimum sum is hit, any access will be withdrawable.
Can we withdraw the excess at anytime after 55?
Based on Current rules (as at 1 November 2019),

We have a minimum sum scheme which is the Full Retirement Sum at $176,000 for those turning 55 this year.

If you wish to do cash top up, you do it via Retirement Sum Topping Up (RSTU) which has a tax relief of up to $7,000. This cash top up is subjected to a max of up to FRS in your account. (so no, you can't top up more than FRS into SA directly for)

Current rules, after you have set aside the Full Retirement Sum, any excess (not including MA) can be withdrawn at 55(after RA is created) from OA and SA but in the sequence as follows: interest accrued, amount contributed for the year, SA, OA.

But bear in mind at 55,RA is created. So that amount in RA is subjected to a lot more terms and Conditions on its withdrawal.

Last edited by Value.Matrix; 09-11-2019 at 09:18 AM..
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Old 09-11-2019, 03:26 PM   #4
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How come there ar many advertisement saying we can accumulate wealth up to a million?
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Old 09-11-2019, 04:03 PM   #5
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I would like to ask the specialist here about topping up cash to CPF special account.
Can we top up more than minimum sum?
CPF board once minimum sum is hit, any access will be withdrawable.
Can we withdraw the excess at anytime after 55?
1. no
2. yes
3. yes

note that top-up to SA will go to form CPF life. u can't withdraw in 1 lump sum.
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Old 09-11-2019, 05:33 PM   #6
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top up cash to SA, Yes (tax deductible $7k/yr. $7k++ still can deposit, but no tax deductible after $7k).

Can't top up more than FRS.

Once hit FRS, you still contribute to SA (beyond FRS) but you can't withdraw until you hit 55.

After 55, if you still working, you will continue to contribute to SA. The plus side is that you can withdraw SA after 55.

I suggest you withdraw OA 1st, before deciding withdrawing SA. Why? bcos, to have excess SA, you 100% have FRS or BRS+house pledge. You can't cash top up SA anymore.

If you are young and earn decent salary. I suggest you pace your cash top up to SA for tax deductible.

Have fun. I've 1yr to reach 55, I've done the kiasu method, move OA to SA as well as cash top up to SA and MA because I fully paid my HDB loan.

I would like to ask the specialist here about topping up cash to CPF special account.
Can we top up more than minimum sum?
CPF board once minimum sum is hit, any access will be withdrawable.
Can we withdraw the excess at anytime after 55?
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Old 09-11-2019, 05:52 PM   #7
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any withdrawal after 55 will be from sa first, then oa

you cannot choose to withdraw oa first


anyway i've been cheonging my sa
just hit FRS this year...40 y.o.
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Last edited by Thoreldan; 09-11-2019 at 05:54 PM..
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Old 09-11-2019, 05:59 PM   #8
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It is possible to be a millionaire this way.

Before reaching FRS, you need to:
1. Transfer OA to SA.
2. Cash top up to SA. Until reach FRS & can't use cash top up to SA.
3. Cash top up MA. Once MA reached max, it'll spillover to SA until FRS.
4. Do the hard way to pay HDB loan, via cash (also get 3 room HDB for low loan amount & 10% cash)

Once you reached FRS & MA. a lot of CPF contribution goes to OA (namly OA+MA), you can then decide to get a larger HDB.

How come there ar many advertisement saying we can accumulate wealth up to a million?
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Old 09-11-2019, 06:53 PM   #9
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Your answers can be found in multiple other CPF threads.
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Old 09-11-2019, 07:58 PM   #10
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top up cash to SA, Yes (tax deductible $7k/yr. $7k++ still can deposit, but no tax deductible after $7k).

Can't top up more than FRS.

Once hit FRS, you still contribute to SA (beyond FRS) but you can't withdraw until you hit 55.

After 55, if you still working, you will continue to contribute to SA. The plus side is that you can withdraw SA after 55.

I suggest you withdraw OA 1st, before deciding withdrawing SA. Why? bcos, to have excess SA, you 100% have FRS or BRS+house pledge. You can't cash top up SA anymore.

If you are young and earn decent salary. I suggest you pace your cash top up to SA for tax deductible.

Have fun. I've 1yr to reach 55, I've done the kiasu method, move OA to SA as well as cash top up to SA and MA because I fully paid my HDB loan.
Congrats reaching 55 next year Uncle. Just to confirm when reaching 55 next year.

For eg:
OA - 90K
SA - 250K
MA - 57.2K

Assuming 2020 SA @ 176K.
SA portion, We can take out: 250K - 176K = 74K?

While OA and remaining SA form RA.

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Old 09-11-2019, 08:05 PM   #11
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any withdrawal after 55 will be from sa first, then oa

you cannot choose to withdraw oa first

anyway i've been cheonging my sa
just hit FRS this year...40 y.o.
That’s v fast. Well done.

I had done it around my 45 or 46.
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Old 09-11-2019, 10:20 PM   #12
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Not correct.

1. RA is created @ 55, it will first take SA &, if not enough, then it'll take OA to reach FRS.

For your scenario, $176k from SA is moved to RA. OA stays. Results: RA=$176k, OA=$90k, SA=$74k.

You can withdraw $90k+$74k = $164k.

I would not suggest to withdraw SA bcos of several reasons (1) 4% interest rate, (2) you can still work. If really urgent, then bo bian withdraw.

Remember, even after 55, SA can't really be used for home loan. But it still possible to ask HDB to take SA for HDB loan, bcos I did it in 2003 when I got retrenched and I cleared out my OA & I stiil need to pay my HDB loan. Bank loan will kill you to ensure the loan is paid on time, no compassion.

2. If both SA & OA combine smaller than FRS ($176k), you have option to request to leave, I think, $20k to OA for Home Loan. For example, OA=$90, SA=$70k => RA=$176, OA=$20K, SA=$0 (request $20k OA to remain @ 55)

Congrats reaching 55 next year Uncle. Just to confirm when reaching 55 next year.

For eg:
OA - 90K
SA - 250K
MA - 57.2K

Assuming 2020 SA @ 176K.
SA portion, We can take out: 250K - 176K = 74K?

While OA and remaining SA form RA.

Sent from Xiaomi MI MAX 3 using GAGT
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Last edited by DarkMage168; 09-11-2019 at 10:29 PM..
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Old 09-11-2019, 10:49 PM   #13
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CPF FAQ says:

"The amount you can withdraw depends on the balances in your CPF account and the year you reach 55 years old. In general, you can withdraw the balances in your Special Account and Ordinary Account, if you have set aside your Full Retirement Sum in your Retirement Account. The Full Retirement Sum can be set aside fully with CPF savings, or with CPF savings (i.e. at least the Basic Retirement Sum) and property."

It is a good question, can withdraw OA first or SA first?

I'll find out next year, when CPF invites me to lim teh, lol


any withdrawal after 55 will be from sa first, then oa

you cannot choose to withdraw oa first


anyway i've been cheonging my sa
just hit FRS this year...40 y.o.
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Old 10-11-2019, 07:58 PM   #14
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How come there ar many advertisement saying we can accumulate wealth up to a million?
It is possible to do so.
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Old 11-11-2019, 01:17 AM   #15
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If both SA hits FRS and MA hit BHS already, work cpf contributions will flow to OA or will it be flowing into SA still?

The annual cpf contribution limit of $37740 is it inclusive of MA topup (for tax relief) and/or SA topup ($7K for tax relief)?
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