CPF Accounts Value Thread 2021

[cal3135]

Impressive

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[addict951]

I stop topping up MA after kenna refunded

Last year I got RFD (for 2018 topup)

Huai ar, Davis
I remember you every 01.01 sure top up MA 1.
Under huat circumstances they refund you 2 years later??

 

[crimsontactics]

Wow I recall last year you only $82k

I think 2 years ago bah...

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[starlight318]

Hokay, MA now $60K.
Everybuttie now quickly throw in $3K right, for next year’s tax relief?

Why must quickly throw in on 1st Jan? Just do it before Jan contribution can already right?

 

[henrylbh]

Dividends on CPF used ($189,679) under CPFIS-OA amounted to $5,865 giving about 3.1% But about $23,000 invested in SIA with zero dividend

 

[The_Davis]

Huai ar, Davis
I remember you every 01.01 sure top up MA 1.
Under huat circumstances they refund you 2 years later??

I forgot already. Maybe hit the contribution limit?
Is refund 1 year later at apr period. Somemore no interest also

I stopped topping up MA ALREADY DUE TO THAT. leh cheh to calculate how much can topup lah.

 

[OngHuatHuat]

Cna anyone teach me how to get rid of this?

I need it to be in SA or MA.

 

[oceanicmanta]

No, later, they will transfer balance above 60k to OA. After that, you can top up 3k to MA.

pls correct if my understanding is wrong ..

3k to MA more suited for those who has not met FRS so that monthly Mandatory Contribution overflows into SA ?

 

[addict951]

I forgot already. Maybe hit the contribution limit?
Is refund 1 year later at apr period. Somemore no interest also

I stopped topping up MA ALREADY DUE TO THAT. leh cheh to calculate how much can topup lah.

Hokay
Can somebuttie shed some light huai cash contribution May kenna refunded a year later?
I leemember asking b4 in late 2018 then somebuttie said they may refund you a year later.

 

[The_Davis]

Because they don't calculate during the year itself. Maybe coincide with some kind of fiscal year cycle thingy?

 

[Okenba]

Hokay
Can somebuttie shed some light huai cash contribution May kenna refunded a year later?
I leemember asking b4 in late 2018 then somebuttie said they may refund you a year later.

They only know towards the end of the year if your mandatory contributions will bust the cap. Earliest they can tell would be Dec I guess.

Then I guess some time is needed to process the refund bah.

 

[starlight318]

Why must quickly throw in on 1st Jan? Just do it before Jan contribution can already right?

Just realized that paynow contribution is processed instantly. Means 3000 trf wil start earning interest in Jan right? Just thrown in 3K

 

[alt2015]

Just realized that paynow contribution is processed instantly. Means 3000 trf wil start earning interest in Jan right? Just thrown in 3K

How abot if top up ra today. Also get interest on this top up for jan?

 

[twosix]

Just realized that paynow contribution is processed instantly. Means 3000 trf wil start earning interest in Jan right? Just thrown in 3K

How abot if top up ra today. Also get interest on this top up for jan?

topup got into the accounts this month, u earn interests this month.

 

[Jazzbie]

I am at FRS so cannot top up SA for tax relief. Is it still possible to top up $3K to MA for tax relief? First time seeing this.

 

[addict951]

They only know towards the end of the year if your mandatory contributions will bust the cap. Earliest they can tell would be Dec I guess.

Then I guess some time is needed to process the refund bah.

Meaning this $3000 thrown into MA on 01.01 RANKS behind employment contribution that will be made between 02.01 & 31.12?
Say your employment contribution hits the ceiling of $37XXX by 31.12, then next year they saw “Oh, this person contributed $3K into MA on 01.01. Cannot leh, must refund him.”

Meaning only throw 3K into MA nao if you r very sure your CPF employment contribution won’t hit $37XXX (for the rest of the year).
IF NOT, you throw in $3K now you’re trying to tikam only and you run may into the likely scenario of letting CPF earn interest on your $3K (& many other hwzoners’) for 14 months & you earn nothing in return.

 

[Okenba]

topup got into the accounts this month, u earn interests this month.

I'm quite sure this is not right.

https://www.cpf.gov.sg/members/FAQ/schemes/other-matters/others/FAQDetails?category=Other%20Matters&group=Others&folderid=13726&ajfaqid=2192131

"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."

 

[Okenba]

Meaning this $3000 thrown into MA on 01.01 RANKS behind employment contribution that will be made between 02.01 & 31.12?
Say your employment contribution hits the ceiling of $37XXX by 31.12, then next year they saw “Oh, this person contributed $3K into MA on 01.01. Cannot leh, must refund him.”

Meaning only throw 3K into MA nao if you r very sure your CPF employment contribution won’t hit $37XXX (for the rest of the year).
IF NOT, you throw in $3K now you’re trying to tikam only

Yes. Otherwise you're just throwing in money that will be refunded only more than 12mths later with zero interest.

I guess you could write in to ask them to refund the employer contributions instead... =D

 

[Jazzbie]

Meaning this $3000 thrown into MA on 01.01 RANKS behind employment contribution that will be made between 02.01 & 31.12?
Say your employment contribution hits the ceiling of $37XXX by 31.12, then next year they saw “Oh, this person contributed $3K into MA on 01.01. Cannot leh, must refund him.”

Meaning only throw 3K into MA nao if you r very sure your CPF employment contribution won’t hit $37XXX (for the rest of the year).
IF NOT, you throw in $3K now you’re trying to tikam only and you run may into the likely scenario of letting CPF earn interest on your $3K (& many other hwzoners’) for 14 months then you earn nothing in return.

Oh ok thanks for your very clear explanation

 

[ocs_woodlands]

ok this year the accounts updates came early

so this is the obligatory annual screen cap