CPF chats

[luvpraline]

https://askhdb.hdb.gov.sg/Themes/HDB/Answers.aspx?MesId=23011699&From=Show&TOPV=YES&VMesID=6829165



No LBS bonus.

Thanks zoneguard

 

[crimsontactics]

yep. i tot we settled this few posts back already?

if u do direct cash top up into SA, that sum plus its interest cannot be invested and cannot be taken out at age 55. can only be slowly milked via CPF life from age 65.

OA transfer to SA, normal contribution from work into SA, voluntary cash contribution into 3 A/Cs no such restriction.

Direct cash top ups can be withdraw if SA exceed FRS.

Sent from . using GAGT

 

[Kaypohji]

is ERS better to aim for? Let’s say if one can afford, should just settle for FRS and withdraw the remaining/put in sa but u can touch it anytime, or aim for ERS directly ?

believe if you have FRS in your RA, then any additional you can withdraw unless you going for ERS

 

[yongsaver]

Direct cash top ups can be withdraw if SA exceed FRS.

Sent from . using GAGT

@peppermint.....maybe you want to answer this? i think u are the best person to answer.

 

[crimsontactics]

is ERS better to aim for? Let’s say if one can afford, should just settle for FRS and withdraw the remaining/put in sa but u can touch it anytime, or aim for ERS directly ?

Depends on your financial condition at 55.

If you have no other financial sources except for your job and CPF, then I would not choose ERS so that I can have a steady source of cash on hand.

However, if you are financially stable, you can choose ERS.

Other consideration includes your investing abilities. If you can beat the 4% to 6% CPF rate, then you might choose FRS and invest the rest yourself.

Sent from . using GAGT

 

[yongsaver]

is ERS better to aim for? Let’s say if one can afford, should just settle for FRS and withdraw the remaining/put in sa but u can touch it anytime, or aim for ERS directly ?

i always like the middle path - not the BRS and not the ERS.

beyond CPF, me already put in place investments to generate passive income till the day me 'close shop' . the monthly payout from CPF life is just added bonus. for me, i see no real need to over cater. again that's just me.

in any case, hard to decide now cos circumstances change. u don't need today does not mean u don't need tomorrow. u need today does not mean u need tomorrow.

 

[peppermint7]

@peppermint.....maybe you want to answer this? i think u are the best person to answer.

Lol. U sabo me

Direct cash top ups can be withdraw if SA exceed FRS.

Sent from . using GAGT

Cannot la. Already stated black n white cannot liao.

Lets say given the scenario
- I have completely $0 in my SA this year 2020.
- I top up in cash 181k into SA to meet FRS
- The 181k + interest compounded year on year until we are 55 will roll into RA once we reach 55.
- This Amount which we top up in cash is set aside purely for this purpose.
- It cant be withdrawn nor use for investment.
- It will only sit there compound at 4% (provided no change) until we are 55 then roll into RA and stream out as CPF life when we are 65.

But to me that would not be a concern as how many of us will actually top up 181k cash to form FRS? Majority would have work with some amount already inside..

Feel free to correct me if I'm wrong cos I still learning..

 

[peppermint7]

i always like the middle path - not the BRS and not the ERS.

beyond CPF, me already put in place investments to generate passive income till the day me 'close shop' . the monthly payout from CPF life is just added bonus. for me, i see no real need to over cater. again that's just me.

in any case, hard to decide now cos circumstances change. u don't need today does not mean u don't need tomorrow. u need today does not mean u need tomorrow.

What maple pointed out on the bequest part is a strong pull for most to select Basic plan. Unless you already have other plans for bequest purpose..

Btw. That graph is really convincing. Have u taken a look at it?

 

[crimsontactics]

Lol. U sabo me




Cannot la. Already stated black n white cannot liao.

Lets say given the scenario
- I have completely $0 in my SA this year 2020.
- I top up in cash 181k into SA to meet FRS
- The 181k + interest compounded year on year until we are 55 will roll into RA once we reach 55.
- This Amount which we top up in cash is set aside purely for this purpose.
- It cant be withdrawn nor use for investment.
- It will only sit there compound at 4% (provided no change) until we are 55 then roll into RA and stream out as CPF life when we are 65.

But to me that would not be a concern as how many of us will actually top up 181k cash to form FRS? Majority would have work with some amount already inside..

Feel free to correct me if I'm wrong cos I still learning..

Anything above FRS can be withdraw.

Sent from . using GAGT

 

[peppermint7]

Anything above FRS can be withdraw.

Sent from . using GAGT

We need expert advice on this

 

[zoneguard]

We need expert advice on this

It was in the () in the screenshot. Excluding....Retirement Sum Topping-up Scheme. Also known as RSTU.

Cash Top-up to SA falls under this scheme and hence cannot be withdrawn. Above FRS also cannot.

 

[peppermint7]

It was in the () in the screenshot. Excluding....Retirement Sum Topping-up Scheme. Also known as RSTU.

Cash Top-up to SA falls under this scheme and hence cannot be withdrawn. Above FRS also cannot.

That's what I think also..
Let's see what others say

 

[BBCWatcher]

i always like the middle path - not the BRS and not the ERS.

Shouldn't the assessment of whether a particular pool of wealth is a "middle path" be based on total household wealth?

There's nothing particularly magical about the Full Retirement Sum. It's the number the CPF Board picked as the maximum level of Retirement Account financing at its creation on a member's 55th birthday. The CPF Board's choice isn't necessarily the best choice for you individually.

As another example, the CPF Board allocates compulsory contributions and "all three account" Voluntary Contributions per age-based allocation percentages. However, there's nothing magical about these percentages either. Some people simply don't need OA dollars as OA because they have absolutely no problem making down payments and servicing mortgages on homes using other resources. Such individuals are generally better served transferring OA dollars to SA just as soon as the OA dollars arrive, as long as allowed.

The CPF Board's default decision is just that: a default decision. Hopefully it's a good default for many people, but it's not necessarily your best decision.

 

[crimsontactics]

It was in the () in the screenshot. Excluding....Retirement Sum Topping-up Scheme. Also known as RSTU.

Cash Top-up to SA falls under this scheme and hence cannot be withdrawn. Above FRS also cannot.

That is if you want to go BRS.

Nothing to do with FRS.

Sent from . using GAGT

 

[yongsaver]

ok. now we back to the RSTU can/cannot withdraw above FRS.

@peppermint - i think the best is for u to ask CPF directly with your personal example.

do their online chat thing cos i suspect most of them working from home.

 

[peppermint7]

ok. now we back to the RSTU can/cannot withdraw above FRS.

@peppermint - i think the best is for u to ask CPF directly with your personal example.

do their online chat thing cos i suspect most of them working from home.

Ask Crimsontactics call la. He put in more cash than me u know. Whatever I say he will not be convinced as I am not working for CPF Board mah

 

[yongsaver]

Shouldn't the assessment of whether a particular pool of wealth is a "middle path" be based on total household wealth?

There's nothing particularly magical about the Full Retirement Sum. It's the number the CPF Board picked as the maximum level of Retirement Account financing at its creation on a member's 55th birthday. The CPF Board's choice isn't necessarily the best choice for you individually.

As another example, the CPF Board allocates compulsory contributions and "all three account" Voluntary Contributions per age-based allocation percentages. However, there's nothing magical about these percentages either. Some people simply don't need OA dollars as OA because they have absolutely no problem making down payments and servicing mortgages on homes using other resources. Such individuals are generally better served transferring OA dollars to SA just as soon as the OA dollars arrive, as long as allowed.

The CPF Board's default decision is just that: a default decision. Hopefully it's a good default for many people, but it's not necessarily your best decision.

me did consider my financial circumstances in totality before choosing the middle option. not too much, not too little...just right. agree for others with different set of circumstances, choices definitely may not be the middle one.

 

[cal3135]

Yes .. u be able to withdraw .. as long reached FRS... (BRS is diffn)

ok. now we back to the RSTU can/cannot withdraw above FRS.

@peppermint - i think the best is

xs HardwareZone Forums app

 

[yongsaver]

Ask Crimsontactics call la. He put in more cash than me u know. Whatever I say he will not be convinced as I am not working for CPF Board mah

no wonder kan cheong. vested.

me not vested also kan cheong.

ok. tomorrow if free, i go ask CPF hor. settle this once and for all.

 

[yongsaver]

Yes .. u be able to withdraw .. as long reached FRS... (BRS is diffn)

xs HardwareZone Forums app

confirm and double confirm? i rem @maple posted many posts ago say cannot. thats why all take it cannot liao.

if confirm and double confirm with CPF one, me dont need to ask liao.