[CPF BRS] What happens when pass away at 80

[BBCWatcher]

when we ask him why, his reply is "it is my money. i do what i like with it". he is absolutely right. and we stop talking about refinancing home loans with him

Yes, he can donate some of his money to his mortgage lender. Nobody will stop him from doing that.

 

[fr33d0m]

I don't understand this comment.

RA can withdraw, with pledge of property and BRS choice.

What's the point of shielding?

They want to take money out of the CPF system, no matter what's the interest rate.

 

[item2sell]

RA can withdraw, with pledge of property and BRS choice.

What's the point of shielding?

They want to take money out of the CPF system, no matter what's the interest rate.

That’s right. I want everything out of CPF.

Rules can change overnight.

Cash in hand is better.

 

[item2sell]

i already said this

1. put in dbs saving. real stupid guy will do that.
2. put in investment that can give a better return, why not?
3. spend it away. i dont know how to convert the utility of using the money to dollars term

Take a look at DBS multiplier thread.

 

[polyglob]

That’s right. I want everything out of CPF.

Rules can change overnight.

Cash in hand is better.

Cash also can be taken away by rule changes. See 2016 India bank note demonetization.

Gold also can be taken away by rule changes. See 1933 and 1934 US law changes that confiscated privately held gold.

Don't trust PAP wrt CPF. But trust PAP enough to not screw around with your cash in hand?

 

[item2sell]

Cash also can be taken away by rule changes. See 2016 India bank note demonetization.

Gold also can be taken away by rule changes. See 1933 and 1934 US law changes that confiscated privately held gold.

Don't trust PAP wrt CPF. But trust PAP enough to not screw around with your cash in hand?

So your logic is PAP is always right?

Screwing with CPF. The sinkies only KPKB.

Screwing with cash. The whole world will be watching.

Look at the CPF changes forced down your throat.

 

[fr33d0m]

So your logic is PAP is always right?

Screwing with CPF. The sinkies only KPKB.

Screwing with cash. The whole world will be watching.

Look at the CPF changes forced down your throat.

Ringgit has fallen from 1:1 to 3:1 to SGD.

Are Malaysian rioting?

 

[dork32]

I don't understand this comment.

wat is the point of shielding when the guy wants to withdraw everything.

 

[dork32]

Take a look at DBS multiplier thread.

does the 93k that you are going to withdraw at 55 from your cpf fit into the dbs multiplier account?

do you know how much i can withdraw from my cpf at 55 if i choose brs? 500k probably. you want to suggest ocbc 360 and uob 1 and boc smart saver and maybank save up and citimaxi gain as well

do you think i have multiplier accounts?

you want to play stocks, i shut my mouth. you could be some fantastic trader. but multiplier, what a joke. this really shows that you are not aware of the situation.

 

[dork32]

Cash also can be taken away by rule changes. See 2016 India bank note demonetization.

Gold also can be taken away by rule changes. See 1933 and 1934 US law changes that confiscated privately held gold.

Don't trust PAP wrt CPF. But trust PAP enough to not screw around with your cash in hand?

to fair if sg do like what in did, whether you money is in cpf or cash, it would be as good as worthless.

 

[item2sell]

does the 93k that you are going to withdraw at 55 from your cpf fit into the dbs multiplier account?

do you know how much i can withdraw from my cpf at 55 if i choose brs? 500k probably. you want to suggest ocbc 360 and uob 1 and boc smart saver and maybank save up and citimaxi gain as well

do you think i have multiplier accounts?

you want to play stocks, i shut my mouth. you could be some fantastic trader. but multiplier, what a joke. this really shows that you are not aware of the situation.

I am going to the casino with $93k.

Didn’t I said in my earlier post?

It’s a bonus that I got out from CPF.

I asked a question on withdrawing the max from CPF.
Not how to save even more money with CPF.

 

[dork32]

I am going to the casino with $93k.

Didn’t I said in my earlier post?

It’s a bonus that I got out from CPF.

I asked a question on withdrawing the max from CPF.
Not how to save even more money with CPF.

i dont disagree with you if you take great pleasure spending time in your casino. everyone have their own liking. in fact, if you feel happier throwing money into the sea, then do it. i also dont care if you save your money or not. that is not my problem

but you should not be suggesting the multiplier as an alternative to cpf because it is not.

 

[celtosaxon]

I asked a question on withdrawing the max from CPF.
Not how to save even more money with CPF.

Saving even more will result in withdrawing the maximum over your lifetime... so that you can afford car payments and regular trips to the casino (if that is your goal in retirement). Unless you plan to blow it all in a one final blaze of glory? Then you should start planning now to renounce and withdraw it all.

 

[item2sell]

i dont disagree with you if you take great pleasure spending time in your casino. everyone have their own liking. in fact, if you feel happier throwing money into the sea, then do it. i also dont care if you save your money or not. that is not my problem

but you should not be suggesting the multiplier as an alternative to cpf because it is not.

Whats wrong with Multiplier? EIR is more than 3% today.

 

[polyglob]

My logic is not that. Personally I am very pleased with what I have in CPF and what I have done with the money in CPF.

For sure, I am not saying that CPF is perfect. Your logic seems to be: any statement disagreeing with you == the fella thinks PAP is always right

So your logic is PAP is always right?

Screwing with CPF. The sinkies only KPKB.

Screwing with cash. The whole world will be watching.

Look at the CPF changes forced down your throat.

 

[a4973]

Whats wrong with Multiplier? EIR is more than 3% today.

Hi can please help me see how EIR for Multiplier is more than 3%? Thought there was a recent drop? Thanks

 

[item2sell]

My logic is not that. Personally I am very pleased with what I have in CPF and what I have done with the money in CPF.

For sure, I am not saying that CPF is perfect. Your logic seems to be: any statement disagreeing with you == the fella thinks PAP is always right

My view is CPF does not form any part of my retirement plan.

Hence, if I can withdraw (any amount > $0), that's a bonus, and that's the right thing for me.

 

[polyglob]

My view is CPF does not form any part of my retirement plan.

Hence, if I can withdraw (any amount > $0), that's a bonus, and that's the right thing for me.

Thumbs up for clear articulation of your position.

Better than those "CPF not your money lah, simi optimization waste of time" type replies.

 

[item2sell]

Hi can please help me see how EIR for Multiplier is more than 3%? Thought there was a recent drop? Thanks

oh ya. its 1.7% (1ST 50K) AND 3% (Next 50k) now.

 

[item2sell]

Does anyone remember you can withdraw Stock gains when you buy with CPF.

And subsequently, rules changed to prevent you from withdrawing your gains.

[edit]

Ah, Here it is 2008.
https://sso.agc.gov.sg/SL/CPFA1953-RG9?DocDate=20180928#pr38-

PART V
GENERAL PROVISIONS
Corporate entitlements like bonus shares, rights issues, etc.
37.—(1) Where entitlements in respect of securities purchased with CPF contributions withdrawn under these Regulations, whether listed or quoted on the Singapore Exchange and whether denominated in Singapore currency or not, are offered to a member at no cost, the entitlements shall be deemed to be purchased with CPF contributions and be held in the member’s CPF Investment Account, ordinary account or special account, as the case may be.
(2) Where entitlements in respect of securities purchased with CPF contributions withdrawn under these Regulations, whether listed or quoted on the Singapore Exchange and whether denominated in Singapore currency or not, are offered to a member at a cost, the member shall, if he decides to take up these entitlements —
(a) where the underlying investments of these entitlements are of a type approved by the Board under these Regulations, purchase these entitlements with CPF contributions withdrawn under these Regulations whereupon these entitlements shall be held in the member’s CPF Investment Account, ordinary account or special account, as the case may be;
(b) where the underlying investments of these entitlements are not of a type approved by the Board under these Regulations, purchase these entitlements with cash.
(3) Where a member sells his entitlement to any rights issue in respect of any of the securities purchased under these Regulations, the whole proceeds of the sale, less any expenses as the Board may permit, shall forthwith be credited to his CPF Investment Account, ordinary account or special account, as the case may be.
(4) All dividends declared, and interest or income earned, in respect of securities purchased by a member under these Regulations shall be credited to the member’s CPF Investment Account or special account, as the case may be.
Net realised profits may be withdrawn
38.—(1) Where a member has purchased any securities under Part II or IV and wishes to withdraw the net realised profits arising from such purchase, the member shall apply to the Board to withdraw the net realised profits within one year from the end of each accounting year in accordance with this regulation.
(2) An application made by a member under paragraph (1) may be approved subject to such terms, conditions and procedures as the Board may impose.
(3) The net realised profits of each accounting year shall be calculated in accordance with the following formula:
GRA = A + B – C –D –E ‑ F
where in relation to that accounting year —
GRA

is the gross realised amount;
A

is the sale or disposal price of the securities;
B

is the total amount of dividends, interest and income received prior to the sale or disposal of the securities, interest earned in the CPF Investment Account and the Share Profit Account and any net realised profits carried forward from the previous accounting year;
C

is the total sum of the costs (including weighted average cost, where applicable) of investment in the securities sold or disposed of;
D

is the total amount of expenses, charges, fees incurred on the purchase of the securities and on the sale or disposal of such securities;
E

is the whole or such part, as the Board may determine, of the interest that would have been payable on the available amount withdrawn under these Regulations, had the member not withdrawn that amount from his ordinary account; and
F

is the net realised loss carried forward from the previous accounting year.
[S 704/2007 wef 01/01/2008]