CPF Accounts Value thread

[Pyroxene]

OA transfer to SA to earn higher interest lor, no trick here.



End of this month will VC till max SA, then will reduce VC accordingly.

You don't intend to hoot any property?

 

[Xanthyon]

29yo (turning 30 this year)

I've only worked for slightly over 3 years ... interest for 2018 was 2.7k nia

 

[OngHuatHuat]

You don't intend to hoot any property?

Have to use cash, I am self employed by the way.

 

[crimsontactics]

Impressive SA figures. It looks strange. Can ask you why zero OA despite impressive SA?

I transfer to SA...

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[crimsontactics]

U still haven’t work meh?

Only work part time...

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[Sinkie]

Wahhh Uncle....you and this minister same same...very rich.

Wah jelly jsk

 

[dork32]

I can't imagine putting in 37k cash into an account you can only start to access at the age of 55, every year...

Maybe 7k for the tax relief, but no more.

it is clear uncle kenny is past 55.

uncle kenny is real smart. past 55 with frs, cpf is like a savings account.

i would put cash into my cpf when i am past my 55.

 

[dork32]

but his cpf life payout will be much more than 1.2k per month if he joins cpf life ? so cant compare like that

i am not talking about what the payout is.

i am saying that he does not need cpf life or any other annuity.

cpf life payout is higher because the principal is being drawn down.

If he just withdraw his interest. His principal will never be depleted

 

[dork32]

RA interest cannot be withdrawn (btw MA interest also cannot withdraw). So Uncle K can only access his OA and SA interest

if he wanna withdraw OA+SA interest, he can do it in Dec, but that would only give him Jan-Nov interest (he can't do it in Jan because by then the interest would have been credited into his accounts). So, he can withdraw about 11/12 of what we see above, roughly 27.3k. Not bad :thumbs up:

i did mention that it is not possible even to withdraw just the interest.

you have to draw on your sa first. if uncle is withdrawing from cpf, he can only withdraw from the sa. in other words the sa amount will be dropping and the oa will be increasing till the sa hits 0. if this is the case, his interest will be dropping over the years.

the reason why i included ra interest is because i am comparing cpf life with scheme that does not have any payout at all. in this case, there would be no ra. all the cash in ra would go into sa.

what i am trying to say is that cpf life or life annuity is not a must for everyone. there are other ways of solving the longevity problem. if you tell uncle that cpf life or life annuity is the way to save him from being a destitute, he will probably laugh his toes off.

 

[dork32]

(btw MA interest also cannot withdraw).

ma interest can be withdrawn. uncle ma is at bhs, his ma interest will go into his oa. he can withdraw as much as he likes from the oa.

 

[crimsontactics]

i did mention that interest it is not possible event to withdraw just the interest.

you have to draw on your sa first. if uncle is withdrawing from cpf, he can only withdraw from the sa. in other words the sa amount will be dropping and the oa will be increasing till the sa hits 0. if this is the case, his interest will be dropping over the years.

the reason why i included ra interest is because i am comparing cpf life with scheme that does not have any payout at all. in this case, there would be no ra. all the cash in ra would go into sa.

what i am trying to say is that cpf life or life annuity is not a must for everyone. there are other ways of solving the longevity problem. if you tell uncle that cpf life or life annuity is the way to save him from being a destitute, he will probably laugh his toes off.

I thought can withdraw 20% from RA at 65?

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[lls0101]

39 this year. Still servicing my HDB till age 60 but thinking of doing early repayment with my current OA so I can finished at 54. Is it recommended?


Read about SA shielding here. Let say you shield your SA and it got below FRS. Does that mean you can do RSTU-SA again?

Thanks in advance for the advice on the above 2 questions.



Getting below national average wages all my life so no impressive figures...

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[dork32]

I thought can withdraw 20% from RA at 65?

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withdraw 20% is for the no money people. at 65, they dont have frs. but they want some money to shiok shiok. so garmen let them draw a bit.

for uncle, he would have cleared his frs. he probably got 1 mil to withdraw from his oa and sa. he will not be allowed to draw from is sa.

 

[Pandule]

Born in 1987. Just turn 31. BBFA lol
OA: 128k
SA: 37k
MA:53k

Never did any top up or transfer from OA to SA. Just a normal salaried employee.

 

[hwmook]

Born in 1987. Just turn 31. BBFA lol
OA: 128k
SA: 37k
MA:53k

Never did any top up or transfer from OA to SA. Just a normal salaried employee.

All high pay guys come in to show off CPF.

 

[crimsontactics]

All high pay guys come in to show off CPF.

Maybe because we BBFAs...

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[lls0101]

All high pay guys come in to show off CPF.

Do not need to be high paid to post.

I'm not high paid. In fact below national average wages all my working life...

What I have now (Not impressive compared to most posted here) are due to

1) starting to work and contribute from age of 17 (I'm 39 this year so that's 22 years of contribution)

2) transfer 30-40k from OA to SA during mid 20

3) do 7k RSTU-SA after my 30s

4) invest in OCBC thru CPFIS during their low ($8+) and holding till now


Also did many mistakes too.

1) lost a fair bit of OA thru buying and selling SMRT shares via CPFIS

2) lost a fair bit of SA thru investing insurance products


Just sharing and hoping to learn more. Also hope someone can advise me on my 2 questions


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[crimsontactics]

Do not need to be high paid to post.

I'm not high paid. In fact below national average wages all my working life...

What I have now (Not impressive compared to most posted here) are due to

1) starting to work and contribute from age of 17 (I'm 39 this year so that's 22 years of contribution)

2) transfer 30-40k from OA to SA during mid 20

3) do 7k RSTU-SA after my 30s

4) invest in OCBC thru CPFIS during their low ($8+) and holding till now


Also did many mistakes too.

1) lost a fair bit of OA thru buying and selling SMRT shares via CPFIS

2) lost a fair bit of SA thru investing insurance products


Just sharing and hoping to learn more. Also hope someone can advise me on my 2 questions


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Bro lls0101, how much did you lose?

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[lls0101]

Bro lls0101, how much did you lose?


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OA - around 8-10k (SMRT)
SA - around 15-18k (insurance product)

It's ok. I'm taking them as a lesson learnt. Just be smarter in the future (hopefully)




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[kehyi4]

39 this year. Still servicing my HDB till age 60 but thinking of doing early repayment with my current OA so I can finished at 54. Is it recommended?

I don't know if it's recommended or not, but that is how i structured my home loan - to finish at 54y 11mth so that i don't need to worry about it when i hit 55.

Read about SA shielding here. Let say you shield your SA and it got below FRS. Does that mean you can do RSTU-SA again?

Brilliant idea... except that it doesn't work. CPF is well aware this potential loophole and it's well and truly closed:

notice the bit that says: -(Amount withdrawn for investments)