CPF Account Value Thread 2023

[reddevil0728]

I thought the FRS & ERS amount is locked in at your 55?

What you need to attain yes.

but how much you can top up is based on prevailing

 

[Nofear40]

What you need to attain yes.

but how much you can top up is based on prevailing

That means at 55, I can choose FRS and have the amount locked away in RA. And after that top up RA to prevaIling FRS?

 

[compro_1975]

A far cry to many others

View attachment 44845

Oh my medical fee still hasn't been reimbursed yet despite coming to 3 months liao

u use for housing alreafy?

 

[BBCWatcher]

Actually , CPF should allow members who choose ERS basic to revert to FRS if they change their mind since the interest is the same for SA and RA until CPF life payout starts.

You can certainly withdraw a large amount from your ERS-funded Retirement Account at least if you do it before your CPF LIFE payouts start and with a property pledge/charge. And those payouts don’t start until age 70 by default, otherwise by choice. Topping up your RA doesn’t reduce whatever RA withdrawal options you already have, but top ups might make RA withdrawals more palatable.

That means at 55, I can choose FRS and have the amount locked away in RA. And after that top up RA to prevaIling FRS?

Yes, or higher, up to the prevailing ERS.

 

[compro_1975]

By the time I turn 55 in 10years time, FRS will probably be 300k, ERS 450k. Whether to top up RA to ERS with 150k will depend on 1) my health and 2) financial situation by then. Actually , CPF should allow members who choose ERS basic to revert to FRS if they change their mind since the interest is the same for SA and RA until CPF life payout starts.

https://geek.sg/tools/cpf-forecast/

u can try it out here

 

[1982-1994]

u use for housing alreafy?

Yes

 

[compro_1975]

Yes

then this amount u have is reasonable la... if u are 1994 baby that is....

 

[Average]

then this amount u have is reasonable la... if u are 1994 baby that is....

he mentioned he is 44yrs old

 

[1982-1994]

then this amount u have is reasonable la... if u are 1994 baby that is....

1980

 

[s0crates]

What you need to attain yes.

but how much you can top up is based on prevailing

Cpf policies... Freaking weird. Why doesn't topping up also be based on cohort's frs/ERS? idgi.

 

[andyhtc]

Cpf policies... Freaking weird. Why doesn't topping up also be based on cohort's frs/ERS? idgi.

Indeed very odd. The BHA (MA) is capped for the retirement batch and cannot be topped up further. However, the BRS is increased every year and you can top your SA to the new FRS and RA to the new ERS every year.

https://www.cpf.gov.sg/member/faq/h...althcare-sum/what-is-the-basic-healthcare-sum

 

[reddevil0728]

Cpf policies... Freaking weird. Why doesn't topping up also be based on cohort's frs/ERS? idgi.

Indeed very odd. The BHA (MA) is capped for the retirement batch and cannot be topped up further. However, the BRS is increased every year and you can top your SA to the new FRS and RA to the new ERS every year.

https://www.cpf.gov.sg/member/faq/h...althcare-sum/what-is-the-basic-healthcare-sum

Dunno man.

maybe cause for RA, people might want more payout, hence they allow further top up.

for MA, they cap it cause technically it can only be inherited unless used

 

[Nofear40]

Dunno man.

maybe cause for RA, people might want more payout, hence they allow further top up.

for MA, they cap it cause technically it can only be inherited unless used

Actually when you are older, you will need MA more.

 

[reddevil0728]

Actually when you are older, you will need MA more.

But no certainty of using it fully.

 

[ahnyaahnya]

The ERS increases for everyone with a Retirement Account. If you’re age 103 with a Retirement Account the ERS increases for you, too.

I admit that I'm not knowledgeable about CPF.
But I'm doubtful that what you said is correct. Why do I say so ? ....
The total payouts that I received this year is $x. However the difference between my current ERS balance and maximum is much less than $x .
If max ERS increases, the difference should be more than x , right?

 

[BBCWatcher]

The BHA (MA) is capped for the retirement batch and cannot be topped up further. However, the BRS is increased every year and you can top your SA to the new FRS and RA to the new ERS every year.

The Full Retirement Sum as applied to Special Accounts includes interest. Once your SA reaches the FRS you might have one more opportunity for a top up the next time the FRS increases, but interest very soon runs ahead of the FRS increase, closing that opportunity. (Unless the government decides to increase the FRS faster than interest can raise Special Accounts. Or decrease the SA interest rates. Or some of both.)

I admit that I'm not knowledgeable about CPF.
But I'm doubtful that what you said is correct. Why do I say so ? ....
The total payouts that I received this year is $x. However the difference between my current ERS balance and maximum is much less than $x .
If max ERS increases, the difference should be more than x , right?

Why would the ERS increases have anything in particular to do with your payouts? Suppose the ERS doubled every year. So what? It’s just the maximum that you could put into a Retirement Account, that’s all. (We should all hope as individuals the ERS is infinite or at least as high as possible. It’s just a purely voluntary ceiling.) Your payouts are determined based on how much you put in, when, when you start payouts, your payout plan, and (for CPF LIFE) your sex. Not what the contribution ceiling happens to be.

 

[ahnyaahnya]

The Full Retirement Sum as applied to Special Accounts includes interest. Once your SA reaches the FRS you might have one more opportunity for a top up the next time the FRS increases, but interest very soon runs ahead of the FRS increase, closing that opportunity. (Unless the government decides to increase the FRS faster than interest can raise Special Accounts. Or decrease the SA interest rates. Or some of both.)

Why would the ERS increases have anything in particular to do with your payouts? Suppose the ERS doubled every year. So what? It’s just the maximum that you could put into a Retirement Account, that’s all. (We should all hope as individuals the ERS is infinite or at least as high as possible. It’s just a purely voluntary ceiling.) Your payouts are determined based on how much you put in, when, when you start payouts, your payout plan, and (for CPF LIFE) your sex. Not what the contribution ceiling happens to be.

It's not the payouts that I'm discussing. It's the amount of ERS - payouts.
Mathematically impossible for the difference between balance of ERS to the max ERS to be so low if max is increasing.

 

[BBCWatcher]

Would you elaborate? If for example you’re looking at some dashboard that reflects your age 55 ERS, that ERS doesn’t change since you only get one 55th birthday. But if you just say “ERS” that does change, and that’s the one that dictates the maximum inflow into your RA. Every time the ERS is raised (usually January 1) everyone with a RA who’s still a CPF member is allowed to add more funds to their RA. Even members who hit last year’s ERS.

N.B. The ERS is exclusive of interest but inclusive of lump sum withdrawals from your RA.

 

[Leaden]

CPF interests coming next week, I think my cpf interests likely not much diff from last year. I invested all investable CPFOA.
This is my 2nd year investing CPFOA monthly.
For now, my total returns is +9.78%.

I'm guessing the returns looks kinda okayish compared to staying in CPFOA for 2 years.

 

[reddevil0728]

CPF interests coming next week, I think my cpf interests likely not much diff from last year. I invested all investable CPFOA.
This is my 2nd year investing CPFOA monthly.
For now, my total returns is +9.78%.

I'm guessing the returns looks kinda okayish compared to staying in CPFOA for 2 years.

Sunday right?

since 31dec