[CPF BRS] What happens when pass away at 80

[d9_lives]

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

Multiplier also change rule right?
Btw, did you accidentally start this thread in MM?

 

[item2sell]

Multiplier also change rule right?
Btw, did you accidentally start this thread in MM?

Yes Multiplier changed rule.
I can move my money out tomorrow.

CPF changed rule,
Can I do that?

 

[item2sell]

Thumbs up for clear articulation of your position.

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

I am saving/investing/gambling along the way to 55yo without considering CPF as mine.

As of today, I can get BRS. If I lucky enough to get BRS at 55, I blanja you to seafood dinner.

As covid drags on, many things are going to change.

 

[d9_lives]

Yes Multiplier changed rule.
I can move my money out tomorrow.

CPF changed rule,
Can I do that?

Why'd I want to do move my money out from cpf? I have more than enough money on hand to last me until 60's. Let me continue to enjoy the 4% in cpf ba.
Just like a long term CD.

Do you have enough money bro?

 

[BBCWatcher]

If you'd like to withdraw all CPF OA, SA, and RA funds (except SA and RA cash top ups) at age 55 you can do so if you have (or buy) a substitute lifetime pension (i.e. life annuity) from a reliable source with payouts equal to or greater than CPF LIFE. Use CPF Form RSS/8 to do that. Manulife's RetireReady Plus II should be one such example as long as you select its lifetime payout period, as long as premiums are fully paid (could be via a single premium), and as long as payouts start no later than age 70. N.B. Any annuity which ends at any finite age, even age 100, doesn't qualify as a valid substitute. It must be a genuine life annuity.

You cannot easily withdraw all CPF MA funds, but you can spend them whenever you wish on qualified medical spending in Singapore, including on MediShield Life, Integrated Shield base plan, and CareShield Life premiums for you and/or for qualified family members.

 

[item2sell]

Why'd I want to do move my money out from cpf? I have more than enough money on hand to last me until 60's. Let me continue to enjoy the 4% in cpf ba.
Just like a long term CD.

Do you have enough money bro?

Still on the way there. Saving investing gambling.

Same question.
Why don’t I want take out the extra in CPF and spent?

When I accumulate enough to last till 90?

 

[d9_lives]

Still on the way there. Saving investing gambling.

Same question.
Why don’t I want take out the extra in CPF and spent?

When I accumulate enough to last till 90?

Still on the way there?
Wait...
You're 48y old already, still on the way there and haven't even reached BRS right?
What did you do with all your money?
Gambled it all away?

 

[item2sell]

Still on the way there?
Wait...
You're 48y old already, still on the way there and haven't even reached BRS right?
What did you do with all your money?
Gambled it all away?

Hehehehe

I want to spend money I don’t need (at 55yo)

 

[item2sell]

If you'd like to withdraw all CPF OA, SA, and RA funds (except SA and RA cash top ups) at age 55 you can do so if you have (or buy) a substitute lifetime pension (i.e. life annuity) from a reliable source with payouts equal to or greater than CPF LIFE. Use CPF Form RSS/8 to do that. Manulife's RetireReady Plus II should be one such example as long as you select its lifetime payout period, as long as premiums are fully paid (could be via a single premium), and as long as payouts start no later than age 70. N.B. Any annuity which ends at any finite age, even age 100, doesn't qualify as a valid substitute. It must be a genuine life annuity.

You cannot easily withdraw all CPF MA funds, but you can spend them whenever you wish on qualified medical spending in Singapore, including on MediShield Life, Integrated Shield base plan, and CareShield Life premiums for you and/or for qualified family members.

Yes. For MA. I have opt for the highest hospitalization tier draining as much as I can.

I have eldershield. Similarly I get as much cover as I can since all from MA. Also pay for my parent medical coverage.

Yet every year end still full.

Manulife premium can use RA to pay?
Overall cost is cheaper than RA?

 

[BBCWatcher]

Manulife premium can use RA to pay?

No, but that doesn't particularly matter as long as you can "float" the expense. You can buy the life annuity and then withdraw all your RA dollars (and OA and SA), if you wish, as reimbursement for your private life annuity purchase.

Overall cost is cheaper than RA?

No, definitely not. CPF LIFE is the lowest cost Singapore dollar life annuity available. Everybody else's substitute, including Manulife's, has a higher premium charge per payout dollar. But you departed financial sensibility in this discussion a long, long time ago, so why stop now? If you wish to drain your OA, SA, and RA completely at age 55 and keep them drained, you can. There is a viable, straightforward option available.