CPF Accounts Value thread

[JuniorLion]

after reading many posts here, I have 2 questions I hope someone can clarify.

1) at 55, I put in the bare minimum into RA ie BRS. after that, anytime before 65, can I top up my RA with cash up to ERS without having to move anymore money from my SA into the RA?

The minimum is BRS only if you do a property pledge. Otherwise, it's FRS.

2) After 55, when my OA, SA and MA get the yearly interests credited (assuming MA interest overflow to OA), when I withdraw the interest for my monthly expenditure, can I dictate that it comes from my OA or must I first withdraw from my SA till one day it falls to zero?

From SA first till it reaches 0.

 

[ocs_woodlands]

The minimum is BRS only if you do a property pledge. Otherwise, it's FRS.

/QUOTE]

ok. understand about the property pledge. no problem to that.

So no issue about topping up RA with cash up to ERS after 55?

 

[JuniorLion]

ok. understand about the property pledge. no problem to that.

So no issue about topping up RA with cash up to ERS after 55?

If you have money in SA to reach FRS, then you must use your SA to reach FRS (unless you try the 'SA Shielding Trick'). The amount from FRS to ERS can use cash.

 

[castafarian]

alamak, i thought this thread is for ppl to show off how rich they feel about their cpf account.

how come become so negative about cpf life and whether they have enough left for their children when they die???

 

[JuniorLion]

alamak, i thought this thread is for ppl to show off how rich they feel about their cpf account.

how come become so negative about cpf life and whether they have enough left for their children when they die???

Yeah that's right.. come'on people..

 

[BBCWatcher]

If you opt for ERS, bigger amount will be used for premiums which earn interests but not paid to you if die early.

This sentence as constructed is nonsensical. CPF doesn't pay anything to your dead body, and even if it did your dead body would have much difficulty spending the payment.

Exactly the same interest is paid into the pool, and that's part of the funding of the pool and its payouts. While you're living, payouts are higher under the Standard Plan than under the Basic Plan. The Escalating Plan is the Standard Plan but with a 2%/year nominal increase slope added to provide the closest match to a real income stream that CPF LIFE offers.

If you want to play the CPF LIFE game well, and if you don't have an early indication (such as a terminal illness diagnosis), then you should defer payouts to age 70 so that you have the maximum possible information about your personal health before you make a decision on your payout plan. If at that point (age 69 and 11 months) you think you can predict, with high confidence, an earlier than typical death date, and if your financial situation otherwise allows, then you might decide to choose the CPF LIFE Basic Plan.

 

[Mecisteus]

alamak, i thought this thread is for ppl to show off how rich they feel about their cpf account.

how come become so negative about cpf life and whether they have enough left for their children when they die???

Actually, this thread should just close because I don't recall anyone sharing?

Maybe you can start the ball rolling?

 

[ocs_woodlands]

If you have money in SA to reach FRS, then you must use your SA to reach FRS (unless you try the 'SA Shielding Trick'). The amount from FRS to ERS can use cash.

know about the shielding trick but I think it will be closed somehow when it's my turn..

looking for other loopholes...

just wondering, post 55 after moving the necessary monies into RA (whether from OA or SA), anyway to top up SA...

 

[ocs_woodlands]

Actually, this thread should just close because I don't recall anyone sharing?

Maybe you can start the ball rolling?

you forgot uncle SKenny's CPF interests? after it come out, I think all got silenced

 

[JuniorLion]

know about the shielding trick but I think it will be closed somehow when it's my turn..

looking for other loopholes...

just wondering, post 55 after moving the necessary monies into RA (whether from OA or SA), anyway to top up SA...

Yes, you can always use "Voluntary Contribution (VC)" option as long as your mandatory contribution (MC) is below the Annual Limit (as of 2019, it is $37740). Noting that once a person is past 55, his CPF contribution rate is 26% instead of 37%, then it is likely that the contributions from employment will hit AL, so there's opportunity to use VC.

Note also that VC will split the "deposits" into OA, SA, and MS accordingly.

 

[castafarian]

Actually, this thread should just close because I don't recall anyone sharing?

Maybe you can start the ball rolling?

i thought i shared mine liao!

 

[castafarian]

you forgot uncle SKenny's CPF interests? after it come out, I think all got silenced

nah, that should motivate us!

 

[Mecisteus]

you forgot uncle SKenny's CPF interests? after it come out, I think all got silenced

Oh I think I miss all the excitement.

63 pages to follow?!

 

[ocs_woodlands]

Yes, you can always use "Voluntary Contribution (VC)" option as long as your mandatory contribution (MC) is below the Annual Limit (as of 2019, it is $37740). Noting that once a person is past 55, his CPF contribution rate is 26% instead of 37%, then it is likely that the contributions from employment will hit AL, so there's opportunity to use VC.

Note also that VC will split the "deposits" into OA, SA, and MS accordingly.

post 55, can the VC deposits that are split into OA be subsequently withdrawn just like the usual OA monies?

also, will any of the VC go into SA if my SA has an amount exceeding the FRS even after the RA is set up?

 

[ocs_woodlands]

Oh I think I miss all the excitement.

63 pages to follow?!

he had in excess of 1m in his OA..

but he is over 55 lah..

 

[JuniorLion]

post 55, can the VC deposits that are split into OA be subsequently withdrawn just like the usual OA monies?

also, will any of the VC go into SA if my SA has an amount exceeding the FRS even after the RA is set up?

OA component will go OA
SA component will go SA
MA component will go to MA. IF BHS is reached, MA component will go SA. If BHS is reached and FRS is reached in RA/SA, then MA component will go OA.

This infographic explains it all.

 

[Mecisteus]

he had in excess of 1m in his OA..

but he is over 55 lah..

At that level, I will follow BBC advice. ERS, defer and escalating.

Any plan is is still a good plan.

 

[Oldnerd79]

Ok I can share mine

 

[edwinttt1978]

Ok I can share mine

Nice. You must have been boldly transferring from OA to SA.

 

[edwinttt1978]

he had in excess of 1m in his OA..

but he is over 55 lah..

Wow. 1m in OA is a lot of money.