CPF Accounts Value Thread 2021

[ocs_woodlands]

just gotten my wife's cpf balances.

posting without authorisation

mid to late 40s.

 

[highsulphur]

just gotten my wife's cpf balances.

posting without authorisation

mid to late 40s.

this balance 很健康

 

[badkham07]

very nice numbers.
do you invest with your SA account? Based on regular CPF contribution from work (assuming already hit ceiling salary), the portion going to SA is about $420 for those < 55 years old.

It seems like a very long time to hit > 200K.

this balance 很健康

 

[highsulphur]

very nice numbers.
do you invest with your SA account? Based on regular CPF contribution from work (assuming already hit ceiling salary), the portion going to SA is about $420 for those < 55 years old.

It seems like a very long time to hit > 200K.

Not me. Its ocs wife

 

[Okenba]

very nice numbers.
do you invest with your SA account? Based on regular CPF contribution from work (assuming already hit ceiling salary), the portion going to SA is about $420 for those < 55 years old.

It seems like a very long time to hit > 200K.

If hit FRS early, every year add another 8k plus...

 

[BBCWatcher]

Contact your insurer and tell them that you’d like to pay for the premiums by cash instead of MA. They will give you a stare but will help you process it. This keeps your MA full throughout the year.

If you can and will make a voluntary contribution to your MA for tax relief, it's a good idea to pay your insurance premiums from MA.

If you're a married couple (for example), and if you plan to make voluntary MA contributions for tax relief, then it makes sense for the spouse who is in the highest tax bracket and who has room below the CPF Annual Limit to pay the insurance premiums for the household from his/her MA.

....Now we're getting really fancy with this tax relief stuff, aren't we?

 

[Okenba]

then it makes sense for the spouse who is in the highest tax bracket and who has room below the CPF Annual Limit to pay the insurance premiums for the household from his/her MA.

You've more or less pointed out the problem. This really only applies to a small number of couples in very specific circumstances and what they save from it probably isn't very much either. Fancy, yes, but it's not going to make you rich.

Maybe save you an additional 20 bucks. Kinda like waiting until the end of the month before contributing to CPF...

Hey, if it makes em happy... Shrug.

 

[The_Davis]

just gotten my wife's cpf balances.

posting without authorisation

mid to late 40s.

Colour is healthy

 

[sunbox]

Can careshield premium for household be paid from single MA account?

 

[Nuggette]

Hi all,
let's say I am 36 years old this year and if I have $100k each on OA and SA, MA is maxed out. Should i move everything over to max out SA?
Based on my own excel calculations, by age 55, I would only have gained $30K more in total interest, or average $1.5K more per year in exchange of losing liquidity to use CPF-OA.
Does the numbers make sense or have I made a mistake in my calculations?

 

[Thoreldan]

Hi all,
let's say I am 36 years old this year and if I have $100k each on OA and SA, MA is maxed out. Should i move everything over to max out SA?
Based on my own excel calculations, by age 55, I would only have gained $30K more in total interest, or average $1.5K more per year in exchange of losing liquidity to use CPF-OA.
Does the numbers make sense or have I made a mistake in my calculations?

Not keeping some in oa as backup for mortgage ?

 

[zoneguard]

Hi all,
let's say I am 36 years old this year and if I have $100k each on OA and SA, MA is maxed out. Should i move everything over to max out SA?
Based on my own excel calculations, by age 55, I would only have gained $30K more in total interest, or average $1.5K more per year in exchange of losing liquidity to use CPF-OA.
Does the numbers make sense or have I made a mistake in my calculations?

2021's FRS is $186K so your OA+SA already exceed that, congrats.

You could do a few things:
1. Invest OA via CPFIS for potential higher returns than 4%.
2. Do the OA to SA transfer until SA reach FRS.
3. Keep some in OA for the mortgage (if you have one)
4. Do nothing. Maybe your mandatory contributions+interest alone will let you reach FRS in SA or even ERS.

You also know your own liquidity situation, job security and whether you are currently investing so I hope the above helps your decision making.

 

[Nuggette]

Not keeping some in oa as backup for mortgage ?

2021's FRS is $186K so your OA+SA already exceed that, congrats.

You could do a few things:
1. Invest OA via CPFIS for potential higher returns than 4%.
2. Do the OA to SA transfer until SA reach FRS.
3. Keep some in OA for the mortgage (if you have one)
4. Do nothing. Maybe your mandatory contributions+interest alone will let you reach FRS in SA or even ERS.

You also know your own liquidity situation, job security and whether you are currently investing so I hope the above helps your decision making.

Thanks. Moving house is indeed one of my consideration to keep my OA. And if my own math does check out, I am quite alright to "lose" the additional $30K interest over the next 20 years to afford some liquidity with OA, and to perhaps experiment investing OA as well.

 

[coppee]

Thanks. Moving house is indeed one of my consideration to keep my OA. And if my own math does check out, I am quite alright to "lose" the additional $30K interest over the next 20 years to afford some liquidity with OA, and to perhaps experiment investing OA as well.

I think the most important use for OA is really for housing, given how expensive it is in sg. Investment and retirement funding really comes a distant 2nd. Most of the time, families have trouble with the downpayment (which has increased to 25% for private property).

IMO I would transfer OA to SA in the future when my home loan outstanding is small and I no longer worry about whether I could pay it off anytime I want.

 

[decibel.]

How much you top up so far?

Sent from HUAWEI VOG-L29 using GAGT

 

[caelitus]

There is mental relief when one had achieved FRS (basic retirement). Onwards then to increasing retirement funding via other means.

 

[havetheveryfun]

There is mental relief when one had achieved FRS (basic retirement). Onwards then to increasing retirement funding via other means.

Yes.. One thing is cos if hit FRS early the interest will help to catch up with the raise in min sum every year even without any more contributions ..

 

[Okenba]

Yes.. One thing is cos if hit FRS early the interest will help to catch up with the raise in min sum every year even without any more contributions ..

Hitting FRS early also means that with interest and mandatory contributions, one might have the chance to reach ERS without any additional monies. If you do, then you're pretty set for CPF Life.

 

[babyrobo]

If you VC into a CPF account where FRS and BHS already hit, does the VC still stack onto SA or it all goes into OA?

 

[zoneguard]

If you VC into a CPF account where FRS and BHS already hit, does the VC still stack onto SA or it all goes into OA?

VC no difference.