CPF Accounts Value Thread 2020

[romeo88]

This is one way but not efficient as you'll have to withdraw in excess of 40k and already depleting your SA by 40k and leaving the rest of your SA investment at risk.

Keep it going. You'll get it soon.

I've never seen anyone propose this and I wonder if it is possible:

What if you invested CPF SA funds using CPF IS after 55.. does this mean that that you can tap the OA funds (minus the minimum 40k your have to keep in SA before doing CPFIS-SA, assuming it still applies after 55) while shielding some SA funds?

Similar to the shielding hack to ensure that more funds from OA are used to create the RA than SA funds.

 

[doody_]

I call bullsh1t on the CPF contributions from multiple employers. The CPF annual limit of 37,740 is per member, not per employer. So there's no way to exceed it.

 

[BBCWatcher]

The CPF annual limit of 37,740 is per member, not per employer.

Then you'll have to argue with the CPF Board.

 

[doody_]

Then you'll have to argue with the CPF Board.

What's there to argue? Your link states the employer's contributions are subject to the OW ceiling. Search CPF annual limit and you will find the FAQ stating it is on a per member basis.

 

[henrylbh]

What's there to argue? Your link states the employer's contributions are subject to the OW ceiling. Search CPF annual limit and you will find the FAQ stating it is on a per member basis.

Better that not many know. He was like you who insisted on the limit.

 

[highsulphur]

My total interest for the year 2019 is 25,511.35. Next year should be above 32k

Why would your interest jump so much in a year?

 

[henrylbh]

Why would your interest jump so much in a year?

Cannot say much. Interest on opening balances alone will be 31,257 unless I use some for CPFIS

 

[JuniorLion]

Dayum. A thread meant for people to show-off and brag turns into yet another "I-need-to-prove-I'm-right" thread.

 

[lifeafter41]

Cannot say much. Interest on opening balances alone will be 31,257 unless I use some for CPFIS

GXGX.....on your opening balance for next year will be 31,257.
獨樂樂不如眾樂樂。

 

[henrylbh]

GXGX.....on your opening balance for next year will be 31,257.
獨樂樂不如眾樂樂。

May be slightly less than the amount if I dump more into equities.

May also be more by 3k plus interest if I liquidate all my CPFIS this month

But that's not likely as there is a paper loss of 14k plus Dividend is about the amount of interest forgone.

 

[lifeafter41]

May be slightly less than the amount if I dump more into equities.

May also be more by 3k plus interest if I liquidate all my CPFIS this month

But that's not likely as there is a paper loss of 14k plus Dividend is about the amount of interest forgone.

I see that it’s a combination.
For a while the thought was that is was all funds in RA/SA/OA that giving the interest amount.

What moi like about this is that under CPF interest payout is it’s not considered as income that’s taxable, unlike rental income.

Question, does the 32k includes RA as that’s not possible to withdraw tlll CPF life activation.

 

[henrylbh]

I see that it’s a combination.
For a while the thought was that is was all funds in RA/SA/OA that giving the interest amount.

What moi like about this is that under CPF interest payout is it’s not considered as income that’s taxable, unlike rental income.

Question, does the 32k includes RA as that’s not possible to withdraw tlll CPF life activation.

Sorry I no understand what you understand.

CPF interest earned is of course the interest earned combined CPF Accounts, excluding fund that has been withdrawn for housing and or for investment etc.

32k is interest on combined balances and is what will be shown in the CPF statement. If I were to liquidate my CPFIS, proceed of about 145k plus (not cost) will go back into my CPF account and that would earn interest from Feb to Dec of no less than 3.5k bringing total expected interest to 35.5k plus for 2020.

 

[BBCWatcher]

What's there to argue? Your link states the employer's contributions are subject to the OW ceiling. Search CPF annual limit and you will find the FAQ stating it is on a per member basis.

Doody_, there's a feature in this forum allowing you to post links. If you want to assert that the CPF Board (or anybody else) has published something on the Web, post a link to it. It's quick and easy.

I provided this link to some information that the CPF Board has published. I'll quote it, too:

If you are concurrently employed by more than one employer, all your employers must pay CPF contributions based on the wages payable to you. This is because the Ordinary Wage (OW) ceiling is applicable on a “per employment” basis.

If you have spotted some other information that the CPF Board has published that is contrary to that particular published information, please link to it, then perhaps the CPF Board ought to be notified.

Better that not many know. He was like you who insisted on the limit.

You too can post links to Web published content, including links to previous comments I have written. I do not recall the comments you ascribe to me. Indeed, I recall making frequent references to exceeding the CPF Annual Limit in various ways -- or the CPF Annual Limit not applying, as you prefer -- such as the (more common) Additional MediSave Contribution Scheme (AMCS).

 

[henrylbh]

Doody_, there's a feature in this forum allowing you to post links. If you want to assert that the CPF Board (or anybody else) has published something on the Web, post a link to it. It's quick and easy.

I provided this link to some information that the CPF Board has published. …...


You too can post links to Web published content, including links to previous comments I have written. I do not recall the comments you ascribe to me. Indeed, I recall making frequent references to exceeding the CPF Annual Limit in various ways -- or the CPF Annual Limit not applying, as you prefer -- such as the (more common) Additional MediSave Contribution Scheme (AMCS).

OK not to recall as the posts were some 2 years ago. I can't retrieve since I am limited to past 20 pages of posts. That time you were annoyed when I did not want to say more and you said it was silly playing game. Then you only brought up AMC.

 

[maple96]

OK not to recall as the posts were some 2 years ago. I can't retrieve since I am limited to past 20 pages of posts. That time you were annoyed when I did not want to say more and you said it was silly playing game. Then you only brought up AMC.

Here I help u "on this rare occasions"

https://forums.hardwarezone.com.sg/111991613-post82.html

 

[henrylbh]

About that time and now, there are changes in understanding What views held that time have been forgotten

 

[henrylbh]

Here I help u "on this rare occasions"

https://forums.hardwarezone.com.sg/111991613-post82.html

Don't anyhow use "on this rare occasion"

Every. Word. Has. Meaning.

 

[doody_]

Doody_, there's a feature in this forum allowing you to post links. If you want to assert that the CPF Board (or anybody else) has published something on the Web, post a link to it. It's quick and easy.

I provided this link to some information that the CPF Board has published. I'll quote it, too:


If you have spotted some other information that the CPF Board has published that is contrary to that particular published information, please link to it, then perhaps the CPF Board ought to be notified.


You too can post links to Web published content, including links to previous comments I have written. I do not recall the comments you ascribe to me. Indeed, I recall making frequent references to exceeding the CPF Annual Limit in various ways -- or the CPF Annual Limit not applying, as you prefer -- such as the (more common) Additional MediSave Contribution Scheme (AMCS).

Here is the quote from your link:

All his employers have to pay the employer's share of CPF contributions on the full amount of wages at the prevailing rate, subject to the OW ceiling.

If you have 2 employers paying you 6k each, both would contribute 17% x 6k. You can apply to limit your contribution to 20% x 6k.

This has nothing to do with annual limit which applies on a per member basis. It will just cut off after 6 months because the OW limit has been hit. That's my understanding from the info provided online.

This is a forum for sharing info with real life examples instead of copy and paste, it would be appreciated.

 

[BBCWatcher]

Here I help u "on this rare occasions"

https://forums.hardwarezone.com.sg/111991613-post82.html

I'm glad that Maple96 has apparently figured out how to provide direct Web links in a post to this forum. That doesn't necessarily mean the links are relevant or germane to the topic at hand (exceeding the CPF Annual Limit, or the CPF Annual Limit not applying), and unfortunately this link isn't obviously germane.

That said, as it happens, for the record, henrylbh's 2017 reply was incorrect in at least one respect. Consider this example:

Sometimes voluntary contributions can exceed the CPF Annual Limit. As notable examples:
[....]
2. Voluntary employer contributions to Medisave under the Additional Medisave Contribution Scheme are not subject to the CPF Annual Limit. (They're not subject to the Basic Healthcare Sum limit either.)

Just a quick note here that I wrote "voluntary contributions" not "Voluntary Contributions." More on this point below, but let's continue....

To the board, this is not viewed as VC but a scheme offered for employer to make monetary contribution to MA (subject to the scheme's limit).

Henrylbh is not correct here. Here's what the CPF Board actually writes:

What are the types of Voluntary Contributions (VC) I can make for my employees?

You can choose to make Voluntary Contributions (VC) to your employees' three CPF Accounts or to their MediSave Account only. Depending on the type of VC you are making, the following maximum amount of VC and tax deductions will apply:

And then the CPF Board lists the Additional MediSave Contribution Scheme (AMCS) in the second row of the two row table immediately following the colon. In other words, the CPF Board considers contributions via the Additional MediSave Contribution Scheme (AMCS) to be Voluntary Contributions (capital V capital C). And that's not the only place the CPF Board describes the AMCS as part of "Voluntary Contributions." They do it again here, for example.

Now, I recognize that the CPF Board's terminology is that "Voluntary Contributions," with capital letters (also abbreviated as "VC"), refers to a specific subset of voluntary contributions, top ups, transfers, etc. I felt and continue to feel that the CPF Board's "VC" terminology is confusing given the proliferation of voluntary options CPF members have, and I try to be more precise in describing the exact sort of contribution(s). For example, I frequently use the term (or similar):

voluntary "all three" account contribution

to refer to a particular type of voluntary contribution (and Voluntary Contribution). I try and will keep trying to avoid stepping on the CPF Board's own terminology, even if it is sometimes confusing, while also trying to be more precise than the CPF Board sometimes is. That doesn't mean I'll always succeed, but that's my goal.

 

[maple96]

I'm glad that Maple96 has apparently figured out how to provide direct Web links in a post to this forum.

U are not just extremely rude, you are insulting beyond imagination. U are what u write!

"People could learn from their mistakes if they were not so busy denying them"

"Intelligent People Learn From the Mistakes Others Make"