CPF Easy Info Thread. :)

[audeze]

and for your info, we are tokking about investing using oa. no need to talk about the fictitious account a and account b.

Account A and Account B are Not fictitious! Cpf may call them something else but they are needed because cpf needs to differentiate between the amount that earns interest and the amount that doesnt

 

[henrylbh]

That is a 2017 reply.

Wait for their latest reply.

Based on that reply (2017?) it's clear that CPF interest is calculated on the lowest balance in the month, unless it has been superseded by later changes.

That is in line with their (earlier) rules that withdrawal comes from interest accrued and inflows during the month before touching the principal sum.

 

[a4973]

Based on that reply (2017?) it's clear that CPF interest is calculated on the lowest balance in the month, unless it has been superseded by later changes.

That is in line with their (earlier) rules that withdrawal comes from interest accrued and inflows during the month before touching the principal sum.

Starting from Jan 2022, the withdrawal rules have changed in that interests accrued are not withdrawn first but rather the principal thus does it also mean the 2017 reply is no longer the way?

 

[dork32]

This is official reply from cpf.

It proves that cpf pays BASED ON LOWEST BALANCE in the month.

In Illustration 2, interest is paid on $2000 and Not $1950 as per dork32 method of calculation

i have always mentioned, any monkey can come in and post any trash they want. where is cpf site says interest is calculated based on the lowest balance?

it is here that cpf says deposits into cpf will not receive interest on the month they are deposited
https://www.cpf.gov.sg/member/faq/g...terest-computed-and-credited-into-my-accounts

 

[henrylbh]

Starting from Jan 2022, the withdrawal rules have changed in that interests accrued are not withdrawn first but rather the principal thus does it also mean the 2017 reply is no longer the way?

We need to search for their earlier
statements on how interest is calculated. Perhaps in their earlier statements lowest in balance in the month was mentioned. I tended to think and act that way a few years back in calculatimg my interest for each year. Stopped
calculating about 4 years already since earlier calculations were right to last 1c to 3c at most.

The current narrative gave no clear indication that interest is based on the lowest balance in the month. In the absence of such clarity, I have to take it that deductions or outflows earn no and should not have the benefit of offsetting earlier inflows which is not entitled to interest. Otherwise, it seems that inflows that are withdrawn subsequently (to limit of outflows) are enjoying interest during the month.

 

[dork32]

last time police man wear shorts. last time cpf interest more than 5%. you do not go to last time to get info. you get your info from this time.

also would be be kind enuf to use the correct names for your accounts. instead of calling them a and b and letting us guess what it is?

 

[reddevil0728]

Just go to Treasury Bills thread. Vsvs22 (24?) posted an official reply from cpf. Look at Illustration 2 and u will understand that cpf pays interest on the LOWEST BALANCE in the month, period!

See vsvs24 post 4417 in Singapore Treasury Bills on how cpf REALLY calculates interest I.e. based on LOWEST BALANCE IN THE MONTH

Sorry I mean 4117

Apparently already done b4. See post 4117 by vsvs24 in Singapore Treasury Bills thread for response by cpf. Proves that cpf pays based on lowest balance

This is official reply from cpf.

It proves that cpf pays BASED ON LOWEST BALANCE in the month.

In Illustration 2, interest is paid on $2000 and Not $1950 as per dork32 method of calculation

2017 reply vs CPF website information that is in 2022. If you cannot even understand that is a material difference here, then you only want to be right rather than based on facts.

Account A and Account B are Not fictitious! Cpf may call them something else but they are needed because cpf needs to differentiate between the amount that earns interest and the amount that doesnt

You are creating a DIFFERENT Example

last time police man wear shorts. last time cpf interest more than 5%. you do not go to last time to get info. you get your info from this time.

also would be be kind enuf to use the correct names for your accounts. instead of calling them a and b and letting us guess what it is?

this guy has been trying to fudge things up to make it look like the same

 

[reddevil0728]

Based on that reply (2017?) it's clear that CPF interest is calculated on the lowest balance in the month, unless it has been superseded by later changes.

That is in line with their (earlier) rules that withdrawal comes from interest accrued and inflows during the month before touching the principal sum.

Starting from Jan 2022, the withdrawal rules have changed in that interests accrued are not withdrawn first but rather the principal thus does it also mean the 2017 reply is no longer the way?

We need to search for their earlier
statements on how interest is calculated. Perhaps in their earlier statements lowest in balance in the month was mentioned. I tended to think and act that way a few years back in calculatimg my interest for each year. Stopped
calculating about 4 years already since earlier calculations were right to last 1c to 3c at most.

The current narrative gave no clear indication that interest is based on the lowest balance in the month. In the absence of such clarity, I have to take it that deductions or outflows earn no and should not have the benefit of offsetting earlier inflows which is not entitled to interest. Otherwise, it seems that inflows that are withdrawn subsequently (to limit of outflows) are enjoying interest during the month.

2017 reply is in conflict with the latest info on CPFB webiste.
https://www.cpf.gov.sg/member/faq/g...terest-computed-and-credited-into-my-accounts

 

[audeze]

i have always mentioned, any monkey can come in and post any trash they want. where is cpf site says interest is calculated based on the lowest balance?

Haha who is the monkey who came up with an illustration that has been proven wrong by an official cpf reply and refuses to admit it?

Just compare your Case 4 and cpf Illustration 2. If u apply yr same "logic" to Illustration 2, u will end up with the WRONG answer of 1950 instead of the right answer of 2000

If u r too proud to admit u r wrong, it s not my job to educate u

 

[a4973]

Actually dork's post #2339, the link to CPF FAQ Para 2. If we follow the English strictly which I believe is the way then it's really very simple. All inflow only earns interest next month, all outflow does not earn interest in the current month. The only exception I can think of is OA > SA transfer in that OA does not earn interest in the current month and SA does earn interest from the beginning of the current month. So don't really have to think of the 4 scenarios right?

 

[audeze]

2017 reply vs CPF website information that is in 2022. If you cannot even understand that is a material difference here, then you only want to be right rather than based on facts.

How many times must I repeat it - there is NO INCONSISTENCY between the Illustration in 2017 and the statements on cpf website. The illustrations follow the statements. The EFFECT is that interest is paid on the lowest balance.

Cpf does not need to spell out the EFFECT for you. They tell you the rules and u can work out the EFFECT for yourself!

You are creating a DIFFERENT Example

What r u talking about? I used Ac A and Ac B to make it easier for u to understand. Maybe I am giving u too much credit

 

[audeze]

This is from Dork32 example

"case 4 contribute then withdraw
1 jan opening balance 10k
10 jan receive 1k into account. total balance 11k
20 jan withdraw 1k. total balance 10k
31 jan closing balance 10k
withdrawal and deposit receive no interest received no interest. so interest only on 9k so lowest balance is wrong."


And below is illustration from CPF:

Illustration 2 – Deduction transaction occurs after contribution transaction
Amount
Month Beginning Balance $2,000.00
Contribution $500.00
Deduction $50.00____
Month Ending Balance $2,450.00

In illustration 2, the eligible monthly balance used to compute interest is $2,000.00.

As the deduction of $50 occurred after the $500 contribution was credited to the account, this deduction did not impact the eligible monthly balance used for interest computation, and thus, interest is computed based on $2,000.00.


My comment:

Just compare the 2 above. It is obvious that dork32 was wrong to say that interest would be paid on only 9k in his Case 4 example. The correct figure is 10k which is the LOWEST BALANCE in the month

 

[reddevil0728]

Haha who is the monkey who came up with an illustration that has been proven wrong by an official cpf reply and refuses to admit it?

Just compare your Case 4 and cpf Illustration 2. If u apply yr same "logic" to Illustration 2, u will end up with the WRONG answer of 1950 instead of the right answer of 2000

If u r too proud to admit u r wrong, it s not my job to educate u

Why aren't you addressing the fact that 1 reply is from 2017 and CPF website info is current 2022? Why you conveniently forget about this fact?

How many times must I repeat it - there is NO INCONSISTENCY between the Illustration in 2017 and the statements on cpf website. The illustrations follow the statements. The EFFECT is that interest is paid on the lowest balance.

Cpf does not need to spell out the EFFECT for you. They tell you the rules and u can work out the EFFECT for yourself!



What r u talking about? I used Ac A and Ac B to make it easier for u to understand. Maybe I am giving u too much credit

You can repeat many times but that doesn't make you right.

This is from Dork32 example

"case 4 contribute then withdraw
1 jan opening balance 10k
10 jan receive 1k into account. total balance 11k
20 jan withdraw 1k. total balance 10k
31 jan closing balance 10k
withdrawal and deposit receive no interest received no interest. so interest only on 9k so lowest balance is wrong."


And below is illustration from CPF:

Illustration 2 – Deduction transaction occurs after contribution transaction
Amount
Month Beginning Balance $2,000.00
Contribution $500.00
Deduction $50.00____
Month Ending Balance $2,450.00

In illustration 2, the eligible monthly balance used to compute interest is $2,000.00.

As the deduction of $50 occurred after the $500 contribution was credited to the account, this deduction did not impact the eligible monthly balance used for interest computation, and thus, interest is computed based on $2,000.00.


My comment:

Just compare the 2 above. It is obvious that dork32 was wrong to say that interest would be paid on only 9k in his Case 4 example. The correct figure is 10k which is the LOWEST BALANCE in the month

please take the convo to https://forums.hardwarezone.com.sg/threads/how-is-my-cpf-interest-computed.6816058/

Actually dork's post #2339, the link to CPF FAQ Para 2. If we follow the English strictly which I believe is the way then it's really very simple. All inflow only earns interest next month, all outflow does not earn interest in the current month. The only exception I can think of is OA > SA transfer in that OA does not earn interest in the current month and SA does earn interest from the beginning of the current month. So don't really have to think of the 4 scenarios right?

lets not bring a second account into the equation. lets resolve the first one first.

 

[audeze]

If after my above post, reddevil and dork32 still refuse to accept they are wrong, it's too bad. They can dream on and believe the world is flat too. Not my job to educate them

 

[reddevil0728]

If after my above post, reddevil and dork32 still refuse to accept they are wrong, it's too bad. They can dream on and believe the world is flat too. Not my job to educate them

We will accept logic and facts.

Not some opinion of someone thinking what they say is right means is right.

 

[audeze]

I have addressed it a million times but u just don't get it so no point me repeating

 

[reddevil0728]

I have addressed it a million times but u just don't get it so no point me repeating

you can address it a billion or a trillion times.

but if it is not backed up by facts, it will still meaningless.

Anyway there is only 1 fact. doesn't matter you know it now or wait. so why not lets wait for the reply.

https://forums.hardwarezone.com.sg/threads/how-is-my-cpf-interest-computed.6816058/

 

[audeze]

We will accept logic and facts.

Not some opinion of someone thinking what they say is right means is right.

What is yr response to my post 2347?

Is the logic good enough for u? Or u need something simpler?

 

[audeze]

We will accept logic and facts.

Based on my post 2347, do u now admit that dork32 was wrong in his Case 4 conclusion?

 

[reddevil0728]

What is yr response to my post 2347?

Is the logic good enough for u? Or u need something simpler?

Based on my post 2347, do u now admit that dork32 was wrong in his Case 4 conclusion?

without prejudice that not replying here does not mean i agree with your post.

If you post that in the following thread so that we can consolidate such conversation at this thread

https://forums.hardwarezone.com.sg/threads/how-is-my-cpf-interest-computed.6816058/
I will be more than happy to address