CPF Calculator

[duhduhduh]

1295 is inclusive of your employer's contribution

Hmm you are not answering my question.

So on his excel sheet, I supposed I should key in 1295 instead of my 700?

Anyway, that is besides the point.


The figure for TS's 5th year CPF Balance varies with the one from the CPF app by 1-2k.

 

[pcmdan]

Hmm you are not answering my question.

So on his excel sheet, I supposed I should key in 1295 instead of my 700?

Anyway, that is besides the point.


The figure for TS's 5th year CPF Balance varies with the one from the CPF app by 1-2k.

Let me try to address, The Excel Sheet is telling you the total contribution.


Assuming you are below 35
I.e. your contribution from your $3,500 wage is $3,500 x 20% = $700
Your employer contribution required by law is $3,500 x 17% = $595

Your total contribution (which you have to input in the excel) is $700 + $595 = $1,295

Not sure if thats what you are asking. If not could you provide more clarity (as your "figure" is kinda vague)?

 

[badsector]

it's very accurate. my monthly balance all tally
Just need to confirm the interest calc during end of this yr.

u may wish to use =ROUNDDOWN for the SA & MA contribution %
more accurate using it.


thanks doody!

 

[pcmdan]

it's very accurate. my monthly balance all tally
Just need to confirm the interest calc during end of this yr.

u may wish to use =ROUNDDOWN for the SA & MA contribution %
more accurate using it.


thanks doody!

Weird how come mine dont tie.

 

[doody_]

TS, thumbs up on the calculator

Correct me if i am wrong (besides those already pointed out by others) - no obligations, just afraid my understanding is not correct

1. The CPF contribution should always be a month lag? I.e. Your Jan pay will only be contributed in Feb

2. Next, CPF calculated the interests base on the lowest balance in the month. I.e. if your contribution comes in 2 Jan X1, your interest given by CPF will only be based on the balance in 1 Jan X1 x 2.5%/12 instead of 2 Jan X1 x 2.5%/12

I do agree it provide a good sensing though not 100% accurate.

Yes there's a lag in the CPF contribution due to the 14 days grace period for employers to contribute. Most people will get their contribution a month late as no employer wants to pay out early

For interest calculation I am actually using previous month's balance in order to account for interest paid only on lowest balance of the month.

Definitely there is some inaccuracy for dollar and cents due to how CPF do the calculations vs how it's done in the Excel. I didn't bother to figure out exactly how CPF does it as the difference over 10-20 years is at most a few hundred dollars

As you mentioned, it is more useful for those who would like to get a general picture of their CPF account balances in the next 10-20 years, especially with regards to MA overflowing and reaching FRS. Also can be used for projecting impact of yearly 7k contributions to SA and how it affects final SA balance.

 

[redchallenge]

hello, sorry this may seem like a noob question, how is interest for CPF being calculated? as in, isit a 1 time interest calculation? or 12 times pro-rated interest, once a month for a year?

 

[badsector]

Weird how come mine dont tie.

maybe u need to double check with your cpf statement.
You might enter the wrong figure at the "Additions/Deductions" section

my monthly balance matched with the cpf statement.

 

[kehyi4]

hello, sorry this may seem like a noob question, how is interest for CPF being calculated? as in, isit a 1 time interest calculation? or 12 times pro-rated interest, once a month for a year?

CPF interest is calculated monthly, based on the lowest monthly balance. It is credited at the end of the year.

 

[redchallenge]

CPF interest is calculated monthly, based on the lowest monthly balance. It is credited at the end of the year.

thanks! 10char

 

[badsector]

i tried using 2016 statement, the interest doesn't match up with this spreadsheet.

Anyone can verify?

 

[pcmdan]

i tried using 2016 statement, the interest doesn't match up with this spreadsheet.

Anyone can verify?

haha I used the same too. And I can confirmed it doesnt tie.

 

[wisely98]

What is this?
It's an Excel spreadsheet to project your CPF account balances into the future.

Can use this do what?
Estimate how much CPF you have at age 55, project impact of additional CPF contributions, etc.

How to use?
You enter your birth year on top in the box highlighted in yellow. The age and category will be auto updated. CPF not very clear so I made some assumptions about when the age category changes. The data table is on the right from Column V onwards.

After that, you enter your CPF contribution for each month. It will show the split into the 3 accounts, and the balance for that month. Interest is calculated every month and added at the end of the year.

Some other stuff
It's supposed to roll over MA to SA once MA exceeds BHS, and to roll over to OA once SA exceeds FRS. I checked the figures and it looks good, but let me know if something goes wrong with the rolling .

I didn't include in the extra 1% interest paid on first 60k of balances, still need to think about the best way to fit it in.

Where to get?
Download link here: http://s000.tinyupload.com/index.php?file_id=00281808830695621173 (No macros required!)

Any suggestions? Problems? Complaints? Let me know

thank you so much for the spreadsheet. just wondering if you are so kind to tweak it to include the combination of OA and SA to RA at age 55 and interest of 4% to it. Will be 55 in 10 years time, and this will certainly give me some assurance to know what is the situation like in 10 years and 20 years time. thanks!!!

 

[redchallenge]

i tried using 2016 statement, the interest doesn't match up with this spreadsheet.

Anyone can verify?

haha I used the same too. And I can confirmed it doesnt tie.

i tried with mine, seems to be okay. did you guys key in additional contribution coming from bonuses?

 

[badsector]

i tried with mine, seems to be okay. did you guys key in additional contribution coming from bonuses?

yes. i key in every amount shown on CPF statement.
but the interest was lower compared to the interest shown in the statement

 

[doody_]

thank you so much for the spreadsheet. just wondering if you are so kind to tweak it to include the combination of OA and SA to RA at age 55 and interest of 4% to it. Will be 55 in 10 years time, and this will certainly give me some assurance to know what is the situation like in 10 years and 20 years time. thanks!!!

Calculation for RA is simpler. It's a single number compounding at 4% yearly. Also, I'm not so sure how RA works because it's too far away for me and I didn't go read up

 

[doody_]

yes. i key in every amount shown on CPF statement.
but the interest was lower compared to the interest shown in the statement

I'm pretty sure the interest shown in my calculator will be lower than the official CPF interest. Nevertheless you can readjust the balances every year. In the long run the projections should be accurate to the nearest 10k

 

[badsector]

I'm pretty sure the interest shown in my calculator will be lower than the official CPF interest. Nevertheless you can readjust the balances every year. In the long run the projections should be accurate to the nearest 10k

results compared to calcuator

OA - $39.12 more than calc
SA - $5.82 lesser than calc
MA - $0.16 lesser than calc

lesser transaction lesser error

 

[panda.jo]

Thanks for the spreadsheet...

LOL, did a calculation with the following assumptions:
-BHS increasing @4.7% yearly till I reach 65yo
-FHS increasing @3% yearly till I reach 55 yo
-salary increasing @4% yearly till hitting $6k, no bonus
-MA is untouched as I will pay cash for ISP and any medical bills
-no transferring of OA to SA as it will be used for housing

MA will hit the projected BHS @ the age of 55
SA will hit the projected FRS @ the age of 59...
jin jialat, must pray to stay employed till 60yo.

 

[soyalove]

hi guys

link is dead due to inactivity. any kind soul care to sic the file again? please?

 

[soyalove]

bump..... sic pls