CPF Accounts Value thread

[dork32]

If this is true, then we can only expect CPF Life payout to be adjusted downwards progressively as time goes by!
So where is that "guaranteed real lifetime income in retirement" that you claimed?
why don't you be upfront and be honest about it: that the CPF Life payout amount you will get is not guaranteed!

Also, you take 122 years old and talk as though everybody will likely live to 122? What a joke!
I had already provided evidence from latest medical research: That their conclusion is that human life expectancy has already peaked at 85-95 years old and also while life span has increased, the age of getting age-related illness has not increased and hence more people will suffer longer in old age!

Meanwhile, the break-even age for CPF Life schemes is about 92 years old, so expect most people to lose money to subsidize others and also to allow CPF Life Reserve Fund to keep growing quickly?
Tell us, you expecting others to subsidize you or you will subsidize others (based on your family history)?

i also love the part on further education, first home, new business with my capital.
if i am on standard, i have 100 extra a month. my $100 is not as big as bbc. cannot buy degree, house and business.
on escalating, even more chialat. must wait for dont know how many years then can catch up. ask them dont get married first or wait till i am 85 then start their degree?

and if i give them 100 a month and i die at 80 with no money left. then ask them to do my funeral.
at least if i leave them 140k, they can do something for me.

yeah, if i die at 100, i will leave them nothing on either case.

this is what i mean, there are always two sides. you decide which side you want to choose.

i love uncle kenny's words of wisdom. the cost of escalating plan is too high that it outweighs its advantages.

 

[JuniorLion]

The choice of CPF plans, payout age is a matter of preferences. Yeah, some prefer to subsidize others while others don't.

 

[JuniorLion]

maple96, if you choose Standard and subsequently top up RA (and let it flow out through AMP) - will the interest belongs to your RA or the pool?

 

[maple96]

maple96, if you choose Standard and subsequently top up RA (and let it flow out through AMP) - will the interest belongs to your RA or the pool?

I will never choose Standard Plan

If u choose Standard and topup RA after payout start, interest on RA belong to RA if u choose AMP but the extra 2% interest belong to the pool.

Pls double confirm with CPFB if u are going this direction, its your money!

 

[JuniorLion]

I will never choose Standard Plan

If u choose Standard and topup RA after payout start, interest on RA belong to RA if u choose AMP but the extra 2% interest belong to the pool.

Pls double confirm with CPFB if u are going this direction, its your money!

Thanks maple96.

 

[ocs_woodlands]

I want to confirm one thing and have 2 questions to ask.

To confirm
At 55, if they move a sum equal to FRS from my SA to RA, I have the option of topping up the RA with cash up to the prevailing year’s ERS amount.

To ask
Q1
Is it possible that at age 65, I opt for BRS even though I have an amount equal to ERS in my RA?

Q2
If the answer to Q1 is yes, does it mean that after CPF Life payouts begin at 65yo, I still have the option of topping up my RA (containing an amount equal to FRS after the BRS amount is deducted from it) to ERS once again?

thanks ahead for the answers.

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[maple96]

I want to confirm one thing and have 2 questions to ask.

To confirm
At 55, if they move a sum equal to FRS from my SA to RA, I have the option of topping up the RA with cash up to the prevailing year’s ERS amount.

To ask
Q1
Is it possible that at age 65, I opt for BRS even though I have an amount equal to ERS in my RA?

Q2
If the answer to Q1 is yes, does it mean that after CPF Life payouts begin at 65yo, I still have the option of topping up my RA (containing an amount equal to FRS after the BRS amount is deducted from it) to ERS once again?

thanks ahead for the answers.

Posted with Common Sense HardwareZone Forums app

If just answer Q2: after u start payout, u still can topup RA to the prevailing ERS as compared to your previous ERS amt (if u already topup to this amt).

 

[JuniorLion]

If just answer Q2: after u start payout, u still can topup RA to the prevailing ERS as compared to your previous ERS amt (if u already topup to this amt).

After you start payout at 65, all your RA goes into CPFLife Premiums, and your RA becomes $0 right?

In this case, you can top up again to ERS.

So it means 2xERS (1 ERS in CPFLife, and 1 ERS in RA) ?

 

[maple96]

After you start payout at 65, all your RA goes into CPFLife Premiums, and your RA becomes $0 right?

In this case, you can top up again to ERS.

So it means 2xERS (1 ERS in CPFLife, and 1 ERS in RA) ?

Fat hope, pls write in to CPFB if u think so

It is not comparing to your RA balance, which CPF rule say so

If u are right, then u are suggesting everyone should choose Standard or Escalating cos for Basic RA is not zero

 

[JuniorLion]

After you start payout at 65, all your RA goes into CPFLife Premiums, and your RA becomes $0 right?

In this case, you can top up again to ERS.

So it means 2xERS (1 ERS in CPFLife, and 1 ERS in RA) ?

Fat hope, pls write in to CPFB if u think so

It is not comparing to your RA balance, which CPF rule say so

If u are right, then u are suggesting everyone should choose Standard or Escalating cos for Basic RA is not zero

I was clarifying only.

So sad..

 

[ocs_woodlands]

If just answer Q2: after u start payout, u still can topup RA to the prevailing ERS as compared to your previous ERS amt (if u already topup to this amt).

Thanks. How about my Q1?

anyone knows?

reproduced below..

Q1
Is it possible that at age 65, I opt for BRS even though I have an amount equal to ERS in my RA?

 

[SKenny]

Thanks. How about my Q1?

anyone knows?

reproduced below..

Q1
Is it possible that at age 65, I opt for BRS even though I have an amount equal to ERS in my RA?

I may not be 100% correct but I will give it a shot.

- in order to reach ERS you will need to do a top up from FRS to ERS.
- If you then opt for BRS, only the FRS portion is considered (ie topups are excluded from the calculation of the withdrawal portion.)
- the portion that you can withdraw is FRS-BRS (= BRS). The topup from FRS to ERS will have to remain in our RA together with the initial BRS. The amount remains in RA will be = 2xBRS (or FRS).
- Hence you will now have BRS+(ERS-FRS) for your CPFLife, plus a charge against your property for BRS plus interest. You can withdraw BRS from your RA with this charge.

 

[boiboi123]

I'm trying to make a voluntary top up to my CPF but scanning the QR code using BOC app gives me an error saying the QR transfer limit is $1K. I read that to transfer via QR >$1K I need to add as payee.. how do I do that for CPF, or am I getting this wrong

 

[JuniorLion]

I'm trying to make a voluntary top up to my CPF but scanning the QR code using BOC app gives me an error saying the QR transfer limit is $1K. I read that to transfer via QR >$1K I need to add as payee.. how do I do that for CPF, or am I getting this wrong

Use DBS internet banking would save you the trouble of trying to figure out this thing.

 

[iMac]

After you start payout at 65, all your RA goes into CPFLife Premiums, and your RA becomes $0 right?

In this case, you can top up again to ERS.

So it means 2xERS (1 ERS in CPFLife, and 1 ERS in RA) ?

You must be damn rich. Because no one would ever though of such question...

We even have problems hitting FRS, you were talking about 2x ERS.

 

[boiboi123]

I ended up using UOB, thank you

Use DBS internet banking would save you the trouble of trying to figure out this thing.

 

[dork32]

You must be damn rich. Because no one would ever though of such question...

We even have problems hitting FRS, you were talking about 2x ERS.

we have uncle kenny here. for him 5x ers also can

 

[rrr2015]

just wondering during birthday year ... are we still allow to make VC to self?

 

[JuniorLion]

just wondering during birthday year ... are we still allow to make VC to self?

What's a birthday year? Your birthday falls on leap year only?

 

[BBCWatcher]

just wondering during birthday year ... are we still allow to make VC to self?

What's a birthday year? Your birthday falls on leap year only?

Perhaps rrr2015 is asking about newborn Singaporeans? Yes, newborn Singaporeans are allowed to make voluntary contributions to themselves. However, ordinarily newborns struggle with writing checks or using AXS at age zero, and compulsory contributions aren't too common within that cohort. (A few infants with careers as models?)