CPF Easy Info Thread. :)

[crimsontactics]

This thread is created so as to compile some commonly asked questions and their answers. Users don't have to go use CPF's horrible FAQ section or dig up individual posts to seek their answers. Credits to all who provided the answers. I'm merely a compiler.

1. If I choose to just keep my Basic Retirement Sum (BRS) at 55, how much can I take out?

Amount = RA - BRS - Top-Up - Interest earned - Grants

2. What is a CPF Property Charge?

Property Charge = CPF OA used to pay house + incurred interest.

3. If my Property Charge is sufficient, how much can I withdraw at 55 with BRS?

Maximum Amount = RA - BRS

4. If my Property Charge is insufficient, how much can I withdraw at 55 with BRS?

You have to pledge your property.

Profit to CPF from property sale not high enough to hit FRS, amount you can withdraw decrease.

5. How high is the annual increment for Minimum Sum.

3%.

6. If I exceed my Basic Healthcare Sum (BHS), where does my contribution and the excess interest from my Medisave Account (MA) go?

7. If I exceed my Full Retirement Sum (FRS), where does my contribution and the excess interest from Special Account (SA) go?

Back to your SA.

8. How are CPF interest calculated and compounded?

Calculated monthly using the lowest amount in that month.

Compounded annually.

 

[crimsontactics]

9. Which accounts are first to benefit from the extra interest.

10. When I withdraw money from my CPF at 55, in what priority will the money be drawn?

Will be adding more info on CPFIS later.

 

[crimsontactics]

Reserved for updates. 2

 

[a4973]

Noob question, how do i check my P+I value?
my property is fully paid, OA not being used for anything else.
thanks

 

[crimsontactics]

Noob question, how do i check my P+I value?
my property is fully paid, OA not being used for anything else.
thanks

Email CPF because only they will know you actual incurred interest.

Sent from OPPO F1s using GAGT

 

[AnTiLooP]

Noob question, how do i check my P+I value?
my property is fully paid, OA not being used for anything else.
thanks

very simple. just login to CPF then check the "used for property" section.

it will tell you how much you have used + also list the accrued interest. that will be your P+I

 

[crimsontactics]

very simple. just login to CPF then check the "used for property" section.

it will tell you how much you have used + also list the accrued interest. that will be your P+I

Yes. Plus ignore my previous answer. This answer is better.

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[Wood41]

MA above minimum sum.
SA much above FRS .
OA quite loaded.

What should I do ?

 

[crimsontactics]

MA above minimum sum.
SA much above FRS .
OA quite loaded.

What should I do ?

If don't need the money, can just leave it inside to get low risk high interest.

Sent from OPPO F1s using GAGT

 

[a4973]

very simple. just login to CPF then check the "used for property" section.

it will tell you how much you have used + also list the accrued interest. that will be your P+I

still on the topic of withdrawal above BRS at 55.
if use cash to Capital Repay property loan + interest how would that affect withdrawal above BRS?

 

[crimsontactics]

still on the topic of withdrawal above BRS at 55.
if use cash to Capital Repay property loan + interest how would that affect withdrawal above BRS?

Easier to withdraw because you will have a higher OA.

Sent from OPPO F1s using GAGT

 

[a4973]

Easier to withdraw because you will have a higher OA.

Sent from OPPO F1s using GAGT

yes, however the withdrawal will be benchmarked against FRS not BRS?

 

[crimsontactics]

yes, however the withdrawal will be benchmarked against FRS not BRS?

Yes.

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[a4973]

Yes.

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so the only benefit for Capital Repayment that comes with the limitation of only able to withdraw above FRS is because our cash is performing poorer outside than within OA?

 

[crimsontactics]

so the only benefit for Capital Repayment that comes with the limitation of only able to withdraw above FRS is because our cash is performing poorer outside than within OA?

I don't really understand you?

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[a4973]

I don't really understand you?

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i mean if i have cash to do Capital repayment but if i keep cash in bank , i can still withdraw above BRS at 55 so i have my cash + withdraw higher amount.

if i use my cash to do Capital repayment then i would have less cash on hand & can only withdraw above FRS which i feel is less cash & lower withdrawal amount.
hope i am making some sense.

 

[crimsontactics]

i mean if i have cash to do Capital repayment but if i keep cash in bank , i can still withdraw above BRS at 55 so i have my cash + withdraw higher amount.

if i use my cash to do Capital repayment then i would have less cash on hand & can only withdraw above FRS which i feel is less cash & lower withdrawal amount.
hope i am making some sense.

I see.

But on the other hand, the money in the bank earns 0.05% interest while the money in OA earns 2.5% to 4.5% interest.

While you can invest your cash in other places with higher interest, you will be shocked by the number of Sinkies who do not invest their money and just leave it lying in their savings account.

 

[a4973]

I see.

But on the other hand, the money in the bank earns 0.05% interest while the money in OA earns 2.5% to 4.5% interest.

While you can invest your cash in other places with higher interest, you will be shocked by the number of Sinkies who do not invest their money and just leave it lying in their savings account.

exactly , so to decide whether to repay Capital with case or keep is only depending on the interest factor? anything else?
i believe Capital repayment the funds can be withdrawn at 55 like contributed funds not locked / reserved like cash RSTU funds.

 

[crimsontactics]

exactly , so to decide whether to repay Capital with case or keep is only depending on the interest factor? anything else?
i believe Capital repayment the funds can be withdrawn at 55 like contributed funds not locked / reserved like cash RSTU funds.

Also must consider the interest on your loan and if there is any penalty for early repayment.

Like if you take HDB loan, where the interest is 2.6% and no penalty for early repayment, it's best to use OA to pay finish.

But if you take bank loan, where interest is lower, you may want to use cash and preserve your OA savings. But only if penalty is low or no penalty.

 

[crimsontactics]

Updated with the following question:

10. When I withdraw money from my CPF at 55, in what priority will the money be drawn?