CPF at 55 Years Old

[~sabaisabai~]

If you clear your VHR, your RA must be $198,800. Your RA is $142,275 + $880 and your SA is $5000. Yes, you can PayNow yourself $2000 per day, so it takes 3 days to clear your SA.
Meaning, you take back $5k-$880 = $4120 from CPF.

VHR is the amount that loan from hdb?

 

[item2sell]

VHR is the amount that loan from hdb?

VHR is the outstanding amount used for property. It is shown in your cpf account online

 

[yoongf]

Hi TS, sorry to ride on this thread. I'll be turning 55 next year. I have been self-employed most of my working life and may not have BRS when my RA will be created. I would like to set aside amount from my OA for my kid's education. I'm thinking of buying 6 mth Tbills to set that amount aside so that the $ will not be swept into RA. Hubby is paying for our HDB. Any thoughts / advice whether this is feasible will be greatly appreciated.

TIA

Even after sell t bill, the $ will go back to OA, and reserved for FRS in RA. Any inflow to OA will be transfered next day into RA.

No way can use for kid education.

 

[sohguanh]

VHR is the amount that loan from hdb?

VHR I think refer to voluntary housing refund. You borrow cpf monies to pay for your hdb loan correct? This monies taken out of cpf need to pay back if you sell your hdb. So if say you voluntary payback the amount get lesser. So when you sell your hdb you get "more cash" as no need to first count off those owed monies.

CPF scheme is very complicated as the years go by. How I wish go back to my parents and above era it is so much simpler. This has been complained to death in other forums also and one cannot fault layman from coining the phrase "monies locked inside CPF cannot take out until you die or you migrate out of Spore" mentality.

 

[fr33d0m]

Even after sell t bill, the $ will go back to OA, and reserved for FRS in RA. Any inflow to OA will be transfered next day into RA.

No way can use for kid education.

Is the next-day transfer already implemented by CPF? It should be, though not working like intended last time.

 

[item2sell]

Even after sell t bill, the $ will go back to OA, and reserved for FRS in RA. Any inflow to OA will be transfered next day into RA.

No way can use for kid education.

does this “OA to RA transfer” apply if the member choose BRS (with property pledge)

 

[yoongf]

Is the next-day transfer already implemented by CPF? It should be, though not working like intended last time.

3yrs ago.. i saw some old ppl cpf statements after sell hse. 1st day in to OA, 2nd day out to RA.

 

[Fishdim]

Even after sell t bill, the $ will go back to OA, and reserved for FRS in RA. Any inflow to OA will be transfered next day into RA.

No way can use for kid education.

I am full time employed now. Does that mean that after 55 yrs, all future contributions from employment will be auto transferred to RA (can't seem to find any info regarding this on cpf site)? If I don't transfer from bank back to OA after selling?

I will need the education sum in 3 yrs time. Currently, my SA+OA is < 100k and don't intend to pledge my HDB.

 

[HMAN]

how come people are confused with VHR.

it is quoted clearly should VHR+RA go lower than FRS ,
one need to pledge to refund additional amount equal to the shortfall of FRS -RA-Ra-withdrawal.
with conditions
1.value of property is sufficient to cover the shortfall (RA remaining) to FRS.


VHR -cpf amount used for housing loan payment+accrued interest.

do not confuse with less VHR will have problem to withdraw RA in excess of BRS.

keyword: Pledging, cpf will create a charge to your house, when the house is sold, the charge will have priority to take the money first.

good thread by the way

 

[sohguanh]

how come people are confused with VHR.

it is quoted clearly should VHR+RA go lower than FRS ,
one need to pledge to refund additional amount equal to the shortfall of FRS -RA-Ra-withdrawal.
with conditions
1.value of property is sufficient to cover the shortfall (RA remaining) to FRS.


VHR -cpf amount used for housing loan payment+accrued interest.

do not confuse with less VHR will have problem to withdraw RA in excess of BRS.

keyword: Pledging, cpf will create a charge to your house, when the house is sold, the charge will have priority to take the money first.

good thread by the way

Don't you find it ironic? We are taking our OWN cpf monies to pay for the hdb. Even if we pay back later it is pay back to our OWN. Since it is our OWN why CPF so super siao onz to ensure this is strictly adhered too? I repeat it is our OWN monies not govt monies why we cannot decide need to pay up full or less full since it is our OWN monies ? Cpf need to be like a nanny to keep track of our OWN monies leh? Giving us crap we cannot manage properly our OWN monies do not gel if one can provide statements we can handle it well. E.g my cpf investment over the years is better than their pathetic 2.5 and/or 4 but no they take the easy way out a blanket policy for all ppl and I repeat it is our OWN monies we are talking here not govt monies.

 

[item2sell]

Don't you find it ironic? We are taking our OWN cpf monies to pay for the hdb. Even if we pay back later it is pay back to our OWN. Since it is our OWN why CPF so super siao onz to ensure this is strictly adhered too? I repeat it is our OWN monies not govt monies why we cannot decide need to pay up full or less full since it is our OWN monies ? Cpf need to be like a nanny to keep track of our OWN monies leh? Giving us crap we cannot manage properly our OWN monies do not gel if one can provide statements we can handle it well. E.g my cpf investment over the years is better than their pathetic 2.5 and/or 4 but no they take the easy way out a blanket policy for all ppl and I repeat it is our OWN monies we are talking here not govt monies.

We own nothing here.
You only own something when you ditch the pink IC

 

[sohguanh]

We own nothing here.
You only own something when you ditch the pink IC

For those that run out of arguments will activate this phrase I already expected this reply. Thanks for fast response.

 

[Value.Matrix]

Don't you find it ironic? We are taking our OWN cpf monies to pay for the hdb. Even if we pay back later it is pay back to our OWN. Since it is our OWN why CPF so super siao onz to ensure this is strictly adhered too? I repeat it is our OWN monies not govt monies why we cannot decide need to pay up full or less full since it is our OWN monies ? Cpf need to be like a nanny to keep track of our OWN monies leh? Giving us crap we cannot manage properly our OWN monies do not gel if one can provide statements we can handle it well. E.g my cpf investment over the years is better than their pathetic 2.5 and/or 4 but no they take the easy way out a blanket policy for all ppl and I repeat it is our OWN monies we are talking here not govt monies.

I already suggested that if you want to do this, sign a conditional contract that says you also opt out of the welfare system. So no need to be bothered as govt no need to take care of you should you have other financial issues.

Since you want ownership, it should be full responsibility too. And government do that by asking to be a non-citizen. So I guess the next best way is to be a foreign talent.

 

[Value.Matrix]

I am full time employed now. Does that mean that after 55 yrs, all future contributions from employment will be auto transferred to RA (can't seem to find any info regarding this on cpf site)? If I don't transfer from bank back to OA after selling?

I will need the education sum in 3 yrs time. Currently, my SA+OA is < 100k and don't intend to pledge my HDB.

OA to RA transfer activates each time you get a transaction which is deemed as withdrawal. Its about 50% OA to RA. The rest of the withdrawal is cash.

The actual cpf link to it is hidden (and they keep changing the link), so it's hard for me to dig it out.

 

[Value.Matrix]

does this “OA to RA transfer” apply if the member choose BRS (with property pledge)

Applies simply because they want the RA to have at least BRS. Hence why I said might as well have FRS since it auto unlocks all restrictions on the rest of the money.

 

[Value.Matrix]

3yrs ago.. i saw some old ppl cpf statements after sell hse. 1st day in to OA, 2nd day out to RA.

Confirm got pledge property and housing refund. Coz it's a "charge" on a first payment basis (where money will go to those sources first, before finally coming out as cash)

 

[sohguanh]

Since you want ownership, it should be full responsibility too. And government do that by asking to be a non-citizen. So I guess the next best way is to be a foreign talent.

For those that run out of arguments will activate this phrase I already expected this reply. Thanks for fast response.

 

[Value.Matrix]

For those that run out of arguments will activate this phrase I already expected this reply. Thanks for fast response.

So what's your brilliant response if this is the expected "ran out if argument response"?

Can you pursuit me to think otherwise and have a much better solution than what you think can be done?

How wouldn't balance the needs? I guess that is the bigger response required. You can also convince the silent majority if its brilliant.

 

[yoongf]

I am full time employed now. Does that mean that after 55 yrs, all future contributions from employment will be auto transferred to RA (can't seem to find any info regarding this on cpf site)? If I don't transfer from bank back to OA after selling?

I will need the education sum in 3 yrs time. Currently, my SA+OA is < 100k and don't intend to pledge my HDB.

CPF from Salary will still go into OA/SA/MA according to the allocation rate for that cohort.

but withdrawal rules for less than FRS .... is max $5k.
https://www.cpf.gov.sg/member/retir...ls/withdrawing-for-immediate-retirement-needs

https://www.cpf.gov.sg/content/dam/web/member/retirement/documents/Withdrawalrulestable.pdf

The sweeping of OA/SA is mentioned at this FAQ.

https://www.cpf.gov.sg/member/faq/r...er-transfer-of-monies-from-sa-oa-to-ra-before

 

[fr33d0m]

3yrs ago.. i saw some old ppl cpf statements after sell hse. 1st day in to OA, 2nd day out to RA.

That could be different. House Refund may work differently. Last year, I think CPF contribution was still not auto transferred to RA without FRS in RA.