CPF Account Value Thread 2023

[henrylbh]

My father's CPF interest also dropped after 1st year on CPF Life.

seems like CPF Life monthly payout deducts from the RA.. wonder what would they deduct when the RA hits $0.

One CPFL starts payout, in most cases CPF interest for the year is likely to drop. It appears your father went along with CPFL Basic Plan, where monthly payout is deducted from his RA until his RA is exhausted and therefrom he will receive payout from life insurance fund till he expire.

It would enhance our understanding if you could let us know how much (in term of %) of his RA was deducted to pay for life annuity premium. The RA balance will drop before commencing CPFL payout due to deduction of annuity premium and the attributable interest is no longer his but remain in the life insurance fund.

 

[havetheveryfun]

One CPFL starts payout, in most cases CPF interest for the year is likely to drop. It appears your father went along with CPFL Basic Plan, where monthly payout is deducted from his RA until his RA is exhausted and therefrom he will receive payout from life insurance fund till he expire.

It would enhance our understanding if you could let us know how much (in term of %) of his RA was deducted to pay for life annuity premium. The RA balance will drop before commencing CPFL payout due to deduction of annuity premium and the attributable interest is no longer his but remain in the life insurance fund.

yes he is on basic plan.. got some monies deducted from RA but not sure how much. read up more abt it n seems like it maybe a good idea to top up his RA every year after the monies is deducted from the RA . . . so that the interest gained can keep it going for a while longer

 

[henrylbh]

yes he is on basic plan.. got some monies deducted from RA but not sure how much. read up more abt it n seems like it maybe a good idea to top up his RA every year after the monies is deducted from the RA . . . so that the interest gained can keep it going for a while longer

I think under new rules, top ups will be automatically converted to CPFL. If can, please check his statement to note % of RA deducted for CPFL as many here would like know more about the Basic Plan. Under the other 2 plans, the whole RA balance will be deducted as life premium and one can kiss the attributable interest if one die by about 80.

 

[henrylbh]

Probaly invested the sums into Tbills or something equvialent. Told you half the story.....

I said interest dropped but never tell any story, not even half

Ok part of the story is because I lost one month's CPF interest of $1,222.58 when I got T-Bill in Dec.

 

[havetheveryfun]

I think under new rules, top ups will be automatically converted to CPFL. If can, please check his statement to note % of RA deducted for CPFL as many here would like know more about the Basic Plan. Under the other 2 plans, the whole RA balance will be deducted as life premium and one can kiss the attributable interest if one die by about 80.

meaning the top ups wont go to the RA but go to the CPFL premium ?

not sure how much was deducted as CPF can only view up to 1 year ago.. need to dig for paper statements (if he was even sent any, as some never get paper statements anymore).. but based on CPF FAQ it says 10-20% of RA sum

 

[reddevil0728]

meaning the top ups wont go to the RA but go to the CPFL premium ?

not sure how much was deducted as CPF can only view up to 1 year ago.. need to dig for paper statements (if he was even sent any, as some never get paper statements anymore).. but based on CPF FAQ it says 10-20% of RA sum

nowadays all those statements available on cpf website when you login liao

 

[AlanKohCD]

One CPFL starts payout, in most cases CPF interest for the year is likely to drop. It appears your father went along with CPFL Basic Plan, where monthly payout is deducted from his RA until his RA is exhausted and therefrom he will receive payout from life insurance fund till he expire.

It would enhance our understanding if you could let us know how much (in term of %) of his RA was deducted to pay for life annuity premium. The RA balance will drop before commencing CPFL payout due to deduction of annuity premium and the attributable interest is no longer his but remain in the life insurance fund.

Just wonder if you are at 65 years old with FRS amount and started CPF life monthly payout. May i know do you still enjoy the 4% to 6% compound interest in your RA account till end of life

 

[rrr2015]

meaning the top ups wont go to the RA but go to the CPFL premium ?

not sure how much was deducted as CPF can only view up to 1 year ago.. need to dig for paper statements (if he was even sent any, as some never get paper statements anymore).. but based on CPF FAQ it says 10-20% of RA sum

10~20% was for CPF life premiums. after that payout from RA first till depleted before payout from CPF life pool.

 

[sohguanh]

10~20% was for CPF life premiums. after that payout from RA first till depleted before payout from CPF life pool.

This means if you pass away early your RA is yours not inside the big pool. This mean for bequest can take from the RA by your nominees correct? If it is inside the big pool how to determine how much to take from the pool and give to the nominees upon your death?

 

[Dividends Warrior]

Mine is peanuts.

 

[RedsYWNA]

Mine is peanuts.

Why so little? You below 40?

 

[S1mpleGuy]

Just wondering for those with MA 66k in 2022, it seems the MA interest is credited in dec22 and then auto transfer to SA in Jan. Does this mean this interest will not be part of interest computation in jan23 since it is based on lowest balance?

 

[AlanKohCD]

10~20% was for CPF life premiums. after that payout from RA first till depleted before payout from CPF life pool.

If now you are 64 years old and only have Basic Retirement Sum. Is it advisable to top up to Full Retirement sum. so that at 65 years old you can have a higher monthly payout?

 

[reddevil0728]

Just wondering for those with MA 66k in 2022, it seems the MA interest is credited in dec22 and then auto transfer to SA in Jan. Does this mean this interest will not be part of interest computation in jan23 since it is based on lowest balance?

https://www.cpf.gov.sg/member/faq/g...terest-computed-and-credited-into-my-accounts
CPF balances used for interest computation are affected by the transactions in your account. For instance, contributions (including refunds) received this month start earning interest next month. Withdrawals/deductions in this month will not earn interest from this month onwards.

—

so the interest will start earning interesting from Jan

 

[rrr2015]

If now you are 64 years old and only have Basic Retirement Sum. Is it advisable to top up to Full Retirement sum. so that at 65 years old you can have a higher monthly payout?

you can estimate payout using CPF tool. if unsure, you can go CPF request for payout estimate based on your scenario
https://www.cpf.gov.sg/eSvc/Web/Schemes/LifeEstimator/LifeEstimator
decide if worth to topup based on payout increase.

anyway better to start new thread so others can chip in. let those who wants to share CPF value continue here

 

[rrr2015]

This means if you pass away early your RA is yours not inside the big pool. This mean for bequest can take from the RA by your nominees correct? If it is inside the big pool how to determine how much to take from the pool and give to the nominees upon your death?

payout & bequest already predetermined no? anymore i guess u better ask CPF

 

[kickass22]

If now you are 64 years old and only have Basic Retirement Sum. Is it advisable to top up to Full Retirement sum. so that at 65 years old you can have a higher monthly payout?

The amount you get will differ based on when you put the money in. If you put the FRS money when you were 55 is different from when you put the money in when you are 64. You can use the estimator tool to find out.

That is my munderstanding.

 

[AlanKohCD]

The amount you get will differ based on when you put the money in. If you put the FRS money when you were 55 is different from when you put the money in when you are 64. You can use the estimator tool to find out.

That is my munderstanding.

Yes, the more you top up the more is your payout.
Correct me if I am wrong.
Example:
Your FRS at 65 years old is $176,000.
Your monthly payout is $980 /mth.
This FRS of $176,000 will last about 15 years. (from 65 years old to 80 years old).
by 80 years old. your FRS will be zero.
if can live above 90 years old than is breakeven. Because if you invest this FRS elsewhere at about 4%.
It can last your monthly payout for 10 years.

 

[sohguanh]

payout & bequest already predetermined no? anymore i guess u better ask CPF

How's that predetermined possible when cpf cannot predict when you die? It is only when you die then they can know how much CPF monies is left to distribute.

 

[minamikaze]

This is mine.
Need some advice about my OA.. (I got a sum returned from selling my 1st property about 1.5 years ago).
Given the sky high interest rates now, should I wait for my loan lock-in period to end and then use it to do a partial prepayment of the loan?
Am a bit hesitant about transferring my OA to my SA as I may want to use it for a future property purchase (but that likely won't happen within the next 3-4 years).