CPF Accounts Value thread

[tangent314]

maybe because the people who frequent this forum are not your average typical Singaporean

Most average typical Singaporeans probably understand the purpose of CPF, even if they don't know how to optimize the use of CPF.


It's really just a vocal minority that is on the #returnourcpf bandwagon.

 

[kellogs]

#returnourcpf would only causes more beggars and homeless in SG.

Sent from Samsung SM-N960F using GAGT

 

[Nofear40]

FRS is formed from SA first. If you have insufficient SA, they will use OA to form RA. If you want to leave your SA balance intact, you gotta do the SA shielding trick.

What about If I want to top up to ERS? Can I move my OA and leave SA intact? Assuming I still have SA balance after transfer to RA to form FRS

 

[JuniorLion]

What about If I want to top up to ERS? Can I move my OA and leave SA intact? Assuming I still have SA balance after transfer to RA to form FRS

Yes you can.

You can even use cash and leave both your OA and SA intact.

 

[Nofear40]

Yes you can.

You can even use cash and leave both your OA and SA intact.

And will we know when our CPF life kicks in at the age of 55?

 

[JuniorLion]

And will we know when our CPF life kicks in at the age of 55?

You mean? Will someone give you a call to tell you that your RA is formed? Will you get an SMS to tell you that your RA is formed? I doubt so.

But if you have Singpass, then you can always log in to take a look yourself.

 

[Nofear40]

You mean? Will someone give you a call to tell you that your RA is formed? Will you get an SMS to tell you that your RA is formed? I doubt so.

But if you have Singpass, then you can always log in to take a look yourself.

What I mean is will you know when you will get your CPF life payouts at 55? Is your goal post locked at the age of 55?

 

[JuniorLion]

What I mean is will you know when you will get your CPF life payouts at 55? Is your goal post locked at the age of 55?

It would appears that this is the case.

 

[hwmook]

The condo is in the “decoupled” husband name.....lol

Unless I am mistaken, only husband is paying for condo mortgage. So why she need convincing?

 

[doody_]

With so many people easily hitting ERS, it's only a matter of time before the rules are tweaked again...

 

[Summer78]

this is not what i meant.

what i meant was eg
20 year loan 3000 per month
30 year loan 2200 per month

i will chose a 30 year loan.
i will pay 2200 back to the bank. 800 will go into cpf
rather than
3000 to bank, 0 to cpf

I did the opposite: pay all cash to bank, zero paid from cpf.

 

[Summer78]

I suspect that your 7% yield is based on the purchase price of your HDB.

I would have used the current price of your HDB to calculate the current yield. This will show the current return of your money that is tied to your HDB.

That is so true. If based on purchase price my yield is 13%. Lol...

 

[The_Davis]

maybe because the people who frequent this forum are not your average typical Singaporean

I agree with this. you go to those cpf forum they don't even ask the important questions

 

[The_Davis]

With so many people easily hitting ERS, it's only a matter of time before the rules are tweaked again...

pray tell where you got this figure from

 

[Summer78]

HDB price did not appreciate much. 7% is valid based on current price.

Jsm....

Which area?

 

[SBC]

Jsm....

Which area?

Hougang area. 3 bus stop from interchange. Have collected about 80k rental so far.

 

[Summer78]

i totally agree with bbc this time round, although i do not like his reference to americans.

oa is a safe option for many singaporeans ( i am not tokking abt americans).

this is because most singaporeans would have used their oa if they were to buy a property.

take sbc. he has taken out 290k from his oa. this means that he can return 290k back to the oa anytime. he can choose to return 700 every month. it will take him a long time to reach 290k.

take me for instance. my monthly contribution to oa is 1700 and my installment is 2.5k for 20 years. i will use 1700 oa and 800 cash everymonth to service my loan. or
i can switch to a 30 year loan at 1800 a month. i use 1000 oa and 800 cash to service the loan. in this way my oa will increase by 700 a month.

i also mentioned many times. when the interest rates shoots, i have many 700s + its interest that i have accumulated over the months to pay down the loan when the lockin and fixed period ends.
and if i do this, you will realize that my outstanding loan would be less than if i had chosen the 20 year loan and was paying 2.5k a month.

Why not just use cash? Ensure all money in cpf earning interest.

 

[Summer78]

Hougang area. 3 bus stop from interchange. Have collected about 80k rental so far.

Wah, if your yield is based on current prices, it probably means your hdb hasn’t appreciated much.

But 7% rental yield is jsm.

 

[tangent314]

With so many people easily hitting ERS, it's only a matter of time before the rules are tweaked again...

The rule changes that have taken place have never been in response to whether people are meeting some kind of target, but in response to rising life expectancy. When CPF was first introduced, Singaporean's life expectancy was 10 more years after reaching age 55, so whatever money saved up only has to last 10 years. With life expectancy now at 85, you can't expect to retire at 55 with the same sum of money (adjusted for inflation) and have that money last 30 years. Obviously, the rules have to change to adapt to growing life expectancy.

 

[SBC]

Wah, if your yield is based on current prices, it probably means your hdb hasn’t appreciated much.

But 7% rental yield is jsm.

Ya lor. “Lost” a lot that I had missed the boat on private property rise in 2010.

Hope HDB will rise when Cross Island line is built there.