CPF Account Value Thread 2023

[dork32]

parent is 79. parent did not draw from cpf. it means parent dont need and dont want to draw.

now garmen force parent to draw. so draw as little as possible. does that make sense?

 

[royalmix]

It's quite clear that the government highest priority is to ensure the sustainability of the system even at the expense of downsizing and dragging out payouts (RSS Vs CPF LIFE BASIC).

It's prudent for them to do so, but I wish that they have pushed GIC to give higher interest to sustain the payouts.

Sure... CPF is already the best annuity, gives the best risk free returns blah blah blah blah. I get it. But with inflation at all time high and cpf interest rates not adjusting with higher interest, we are left to deal with this lol.

Of course, they will just increase FRS by a larger amount but at no cost to the system again lol

They rather let a small group of rich/elite to drain GIC of 4% on shielded SA, than benefit the whole population! 2 Singapores was right!

Now they make the older cohorts to withdraw their RSS, why? Market can give higher interest rate, you now have a choice or forced withdrawal to invest in higher return instruments or choose to park in CPF RA! Which will you choose if markets can pay higher than 4% ?

I chose to park my funds earning more than 5% instead of topping up my CPF, is almost 3 mths now, a better deal for my situation! If I can withdraw, I will withdraw and park in higher interest earning instruments! Change is a constant, we have to change with times and circumstances!

 

[BBCWatcher]

parent is 79. parent did not draw from cpf. it means parent dont need and dont want to draw.
now garmen force parent to draw. so draw as little as possible. does that make sense?

This logic is logical.

 

[BBCWatcher]

They rather let a small group of rich/elite to drain GIC of 4% on shielded SA, than benefit the whole population! 2 Singapores was right!

Uh, I think you have that one fairly backwards. Everyone at age 55 with more than about $41,000 in SA can shield SA. That’s a lot of people. It actually costs those with higher SA balances more to shield, and if your SA balance is truly sky high it might not even make financial sense to shield. (That’s because you‘d lose some SA interest on a gigantic amount in order to shield a comparatively small amount.) There’s also the fact rich people often top up SA for tax relief, and with only a few top ups they start to reduce the amount they can shield.

 

[royalmix]

Uh, I think you have that one fairly backwards. Everyone at age 55 with more than about $41,000 in SA can shield SA. That’s a lot of people. It actually costs those with higher SA balances more to shield, and if your SA balance is truly sky high it might not even make financial sense to shield. (That’s because you‘d lose some SA interest on a gigantic amount in order to shield a comparatively small amount.) There’s also the fact rich people often top up SA for tax relief, and with only a few top ups they start to reduce the amount they can shield.

You can have your own view! I have mine which is correct too! Dun waste my time!

 

[s0crates]

They rather let a small group of rich/elite to drain GIC of 4% on shielded SA, than benefit the whole population! 2 Singapores was right!

Now they make the older cohorts to withdraw their RSS, why? Market can give higher interest rate, you now have a choice or forced withdrawal to invest in higher return instruments or choose to park in CPF RA! Which will you choose if markets can pay higher than 4% ?

I chose to park my funds earning more than 5% instead of topping up my CPF, is almost 3 mths now, a better deal for my situation! If I can withdraw, I will withdraw and park in higher interest earning instruments! Change is a constant, we have to change with times and circumstances!

Hehe don't like that when the time comes I will also shield my SA. I bet you will too.

Hope we see more withdrawals for cpf into tbills/fixed d when OCBC/UOB open up online banking for tbills with cpf. GIC might be pressured to give a higher interest rates if they have to fulfil the withdrawal requests.

 

[royalmix]

Hehe don't like that when the time comes I will also shield my SA. I bet you will too.

Hope we see more withdrawals for cpf into tbills/fixed d when OCBC/UOB open up online banking for tbills with cpf. GIC might be pressured to give a higher interest rates if they have to fulfil the withdrawal requests.

Govt/CPFB already said, if you want higher interest on OA, then transfer to SA or invest outside!

 

[BBCWatcher]

Another factor is that wealthy self-employed individuals tend to make only MediSave contributions, so they tend to have lower SA balances. Sometimes not even that (since their income is often passive).

 

[BBCWatcher]

The CPF Board used to allow nominees to sit on deceased members’ CPF balances indefinitely, earning standard CPF interest rates and bonus interest. That was a nice deal particularly for wealthy families. Now the interest rate collapses in 2 steps after a member passes.

 

[dork32]

Now they make the older cohorts to withdraw their RSS, why? Market can give higher interest rate, you now have a choice or forced withdrawal to invest in higher return instruments or choose to park in CPF RA! Which will you choose if markets can pay higher than 4% ?

of course if market can give better rates, it would be foolish not to go to market.

but parent is 79. parent had to opportunity to go to market for 14 years already. it just means that parent does not know how to go market. so leaving it in the ra is much better than draw down and deposit it in posb savings

 

[royalmix]

of course if market can give better rates, it would be foolish not to go to market.

but parent is 79. parent had to opportunity to go to market for 14 years already. it just means that parent does not know how to go market. so leaving it in the ra is much better than draw down and deposit it in posb savings

You are making assumptions. I manage my parents funds to grow it. He had been 'managing" his mum's funds, unless he stops doing it. It will not make sense to me cos I will continue to manage it for them to grow it further.

To each his own!

 

[dork32]

You are making assumptions. I manage my parents funds to grow it. He had been 'managing" his mum's funds, unless he stops doing it. It will not make sense to me cos I will continue to manage it for them to grow it further.

To each his own!

you are right to each his own. you manage your parents funds, this does not mean that other people manage their parents funds.

it dont make sense it you because of your one track mind. it does make sense to people. it is been 14 years that the money is in the ra. and it is still there.

it is either
1. kid do not manage
2. kid dont know how to manage.

look here, i did not say taking out is bad idea. if your case, yes, take it out.

yeah yeah yeah, you dont have to reply me. i will reply it for you. " This is none of your business. i dont have to give you reasons, i dont report to anybody. you are wasting my time"

 

[royalmix]

you are right to each his own. you manage your parents funds, this does not mean that other people manage their parents funds.

it dont make sense it you because of your one track mind. it does make sense to people. it is been 14 years that the money is in the ra. and it is still there.

it is either
1. kid do not manage
2. kid dont know how to manage.

look here, i did not say taking out is bad idea. if your case, yes, take it out.

yeah yeah yeah, you dont have to reply me. i will reply it for you. " This is none of your business. i dont have to give you reasons, i dont report to anybody. you are wasting my time"

U are making assumptions, not me, he has been managing her funds, topping up to earn tax relief, withholding withdrawals to grow it for her and her family.

Pls dun reply to any of my post in future, then I will not reply to u when you are wrong! If u do not understand, I am not obligated to explain or help you understand! It is none of my business to help you. I am here to help him!

You should have noticed I have not been replying to any of your post when you are wrong! BBC too!

 

[toBfair]

Stay cool everyone. Yes I had gained a lots of 'pro' and 'con' advises from all your inputs and it's not a waste of time reading them . Appreciated all, especially to henry, royalmix, bbc, dork32
It'll definitely help me in choose cpfl or rss payout soon. COOL COOL COOL

 

[dork32]

U are making assumptions, not me, he has been managing her funds, topping up to earn tax relief, withholding withdrawals to grow it for her and her family.

Pls dun reply to any of my post in future, then I will not reply to u when you are wrong! If u do not understand, I am not obligated to explain or help you understand! It is none of my business to help you. I am here to help him!

You should have noticed I have not been replying to any of your post when you are wrong! BBC too!

you are also making assumptions topping up does not mean managing.

and the key word here is withholding withdrawal. this is his main method here. he wants to held back and earn the interest. so why should not he continue to hold back and earn interest.

you say you go market and win a lot. good for you. but did you say how you win a lot? so the guy draw out the money, how is going to follow you. it is none of his business again?

you are totally one track mind. you totally refuse any solution other than yours even with whatever justification.

this is a public forum. if you post rubbish here, be sure that there will be people come in to whack you you have mentioned that you do not want to show up here again. and if you dont come back, no one will hoot you.

and for your info, i do not agree with everything bbc and henry, we do have our conflicts as well. i will hoot him for everything he post. only those that have alternative views.

 

[royalmix]

you are also making assumptions topping up does not mean managing.

and the key word here is withholding withdrawal. this is his main method here. he wants to held back and earn the interest. so why should not he continue to hold back and earn interest.

you say you go market and win a lot. good for you. but did you say how you win a lot? so the guy draw out the money, how is going to follow you. it is none of his business again?

you are totally one track mind. you totally refuse any solution other than yours even with whatever justification.

this is a public forum. if you post rubbish here, be sure that there will be people come in to whack you you have mentioned that you do not want to show up here again. and if you dont come back, no one will hoot you.

and for your info, i do not agree with everything bbc and henry, we do have our conflicts as well. i will hoot him for everything he post. only those that have alternative views.

U cannot make it! I am not obligated to teach you. He knows why his mum is forced to withdraw and I know he knows what he has to do to help his mum. Dun assume everyone is like you, cannot make it in financial planning, dunno what you dunno, poor guy who lost his job as a lecturer!

Dun waste my time, stop trolling here! Good bye to your nonsense! You can continue to nag!

 

[dork32]

U

U cannot make it! I am not obligated to teach you. He knows why his mum is forced to withdraw and I know he knows what he has to do to help his mum. Dun assume everyone is like you, cannot make it in financial planning, dunno what you dunno, poor guy who lost his job as a lecturer!

Dun waste my time, stop trolling here! Good bye to your nonsense! You can continue to nag!

U also cannot make it. i am also not obligated to teach you. He knows why his mum is forced to withdraw. the key word you used is forced, means he does not want to withdraw. you are assuming everyone is like you, withdraw as much as possible as quickly as possible. you also cannot make it you think you can do financial planning with your one track mind?

and who says i am out of job. for all you know, you could be the one that is out of job

who is the troll here? who is the one that is nagging here the most?

 

[dork32]

Stay cool everyone. Yes I had gained a lots of 'pro' and 'con' advises from all your inputs and it's not a waste of time reading them . Appreciated all, especially to henry, royalmix, bbc, dork32
It'll definitely help me in choose cpfl or rss payout soon. COOL COOL COOL

good for you to pick up some knowledge here. you should know that every action you take will have its advantages and disadvantages. just choose the one that suits you the most. it is good that you do not go in blind.

and if you are really so good at investing, taking royalmix route of withdrawing as quickly as possible could be a good solution.

 

[wendyah]

My company paid my Feb cpf after 14th this month, which is against the CPFB requirement. No explanation from HR yet.
May I know will there be any impacts to me?

"The CPF Board takes a serious view on employers who fail to pay CPF contributions correctly and promptly (the due date for CPF contributions is on the last day of the calendar month). Enforcement action would be taken against employers who fail to pay by the 14th of the following month (or the next working day if the 14th falls on a Saturday, Sunday or public holiday). "

 

[BBCWatcher]

My company paid my Feb cpf after 14th this month, which is against the CPFB requirement. No explanation from HR yet.
May I know will there be any impacts to me?

No. As long as the contribution was credited within March there’s no impact on you. You’ll still collect the same amount of interest.