CPF Accounts Value Thread 2021

[JuniorLion]

ok this year the accounts updates came early

so this is the obligatory annual screen cap

Impressive! How old are you?

 

[Jazzbie]

I'm quite sure this is not right.

https://www.cpf.gov.sg/members/FAQ/...s&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."

Yes, so best is to do the top up on 31st Jan via Paynow to maximise interest earned.

 

[S1mpleGuy]

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

does it applies to bhs cap too? say if my MA is 60k i topup 3k now.. but later my salary contribution is 5k to MA so does it mean by 3k cash topup will be refunded?

 

[ocs_woodlands]

Impressive! How old are you?

old liao

late 40s

 

[The_Davis]

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.

Yes. I learnt it the hard way -_-

 

[Dusky01]

old liao

later 40s

You buy house with hard cash

 

[OngHuatHuat]

If you top up today, the lowest balance will be 63000 instead of 60000?

I understand that CPF interest is calculated based on the lowest balance of each month so the best time to top-up is to top up on the last possible day of a given month.

How about transfer between account? example OA to RA/MA?

If I were to transfer OA balance to RA/MA mid month, will I end up losing the interest on that portion in my OA and also RA/MA, because this will result in either account taking the lowest balance of that month.

OA (minus) amount transferred
RA/MA before amount transferred

 

[Okenba]

does it applies to bhs cap too? say if my MA is 60k i topup 3k now.. but later my salary contribution is 5k to MA so does it mean by 3k cash topup will be refunded?

The cap here is about the CPF contribution cap, not the BHS cap.
So long as your contributions for the year are below the contribution cap, your cash top up will be fine.

 

[ocs_woodlands]

You buy house with hard cash

both the properties used about half cash.

 

[Oldnerd79]

 

[JuniorLion]

Thanks for sharing! How old are you?

 

[limster]

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

should always top up CPF last day of the month, not first day of the month

 

[westtraveller]

Sorry to barge in. So if my SA is few k short of FRS and MA is say 58000, is there advantage to top up to 2021 FRS (186000) and BHS (63000) or let my employment contributions slowly fill it up?

It sounds like the way to go is to top up end of this month to 186k and 63k respectively?

 

[Midlifecrisis]

Thanks for sharing! How old are you?

The screen cap shows S79xxxx and the nick is xxxx79

 

[JuniorLion]

The screen cap shows S79xxxx and the nick is xxxx79

Super impressive!

 

[highsulphur]

You top up straight away your MA?

Won't get refunded?

 

[jackieatbtu]

In order to calculate the annual cpf contribution, Is it from December 2019 salary which is credited in January?

 

[kehyi4]

You top up straight away your MA?

Won't get refunded?

I suspect there's a few (or more) people who have effectively given CPF a 3k interest-free loan for the whole of 2021

We'll find out in Jan 2022, I guess

 

[jo2021]

Sorry to barge in. So if my SA is few k short of FRS and MA is say 58000, is there advantage to top up to 2021 FRS (186000) and BHS (63000) or let my employment contributions slowly fill it up?

It sounds like the way to go is to top up end of this month to 186k and 63k respectively?

you must estimate your 2021 salary and bonus correctly...
e.g. if by 2021 Dec, you hit CPF contribution limit, you cannot get tax relief from the topups and possible get yourMA top up refunded without interest.



Posted from PCWX using M2007J1SC

 

[alt2015]

I suspect there's a few (or more) people who have effectively given CPF a 3k interest-free loan for the whole of 2021

We'll find out in Jan 2022, I guess

How come ?