CPF Easy Info Thread. :)

[winguy]

Hi i would like to know what happens when you have pledged your hdb property and then pass away after that. Thanks

 

[crimsontactics]

am quite sure there will be tweaks along the way ... whether it amounts to shifting of goal posts is anyone's guess. just need to stay nimble & adjust accordingly

Hard to plan...

Sent from OPPO F1s using GAGT

 

[RoLanTo]

Can buy through which local bank???

go thru bank.. the sales charge n fees sure high.. but if u need ppl help you to execute, i think any of the local bank branch can help u do it

 

[RoLanTo]

Looks like it's better to just drop the idea of hacking...too risky! The Nikko fund includes sovereign bonds of countries like China, South Korea, India, etc... So if there is an outbreak of war in Korean Peninsula, within overnight the value may just go reverse direction.

the risk is 1-2months depends how fast u buy n sell..

 

[henrylbh]

the risk is 1-2months depends how fast u buy n sell..

Need to consider the buy and selling commission. Not only that, if using SA, you lose interest of 4% pa in the month of withdrawal as well as in the month the fund is returned to SA.

For period of holding, you also need to compare the return from the invested instrument against the cost of using SA and hopefully there is no capital loss in liquidating and returning the fund to SA.

Other risk, unlikely though, is the adverse change of CPF rules during the period of holding the instrument.

 

[heymee]

Questions on Returning of Housing Loan using CPF OA.

If I returned the housing loan used to buy my property to my CPF account....will this payment be split into 3 Accounts (OA/SA/MA)?

Or all the repayment will just go back to OA account?

Can anybody advise?

Thank you!

 

[crimsontactics]

Questions on Returning of Housing Loan using CPF OA.

If I returned the housing loan used to buy my property to my CPF account....will this payment be split into 3 Accounts (OA/SA/MA)?

Or all the repayment will just go back to OA account?

Can anybody advise?

Thank you!

All go into OA.

Sent from OPPO F1s using GAGT

 

[highsulphur]

Questions on Returning of Housing Loan using CPF OA.

If I returned the housing loan used to buy my property to my CPF account....will this payment be split into 3 Accounts (OA/SA/MA)?

Or all the repayment will just go back to OA account?

Can anybody advise?

Thank you!
true

unfortunately just to OA where it first came from

 

[pcmdan]

If I contribute to my parent CPF as her monthly allowance can she draw out from CPF immediately? Will I get tax rebate?

She has the min sun in place and is age 55 this year

 

[elnewbie]

Has she celebrated her birthday yet ?

If I contribute to my parent CPF as her monthly allowance can she draw out from CPF immediately? Will I get tax rebate?

She has the min sun in place and is age 55 this year

 

[henrylbh]

Questions on Returning of Housing Loan using CPF OA.

If I returned the housing loan used to buy my property to my CPF account....will this payment be split into 3 Accounts (OA/SA/MA)?

Or all the repayment will just go back to OA account?

Can anybody advise?

Thank you!

Why do you want to return the housing loan.?

Does it matter (to you) whether it goes to OA and all 3 accounts?

 

[henrylbh]

If I contribute to my parent CPF as her monthly allowance can she draw out from CPF immediately? Will I get tax rebate?

She has the min sun in place and is age 55 this year

You want to contribute to her 3 accounts (OA/SA/MA) or SA (if before 55) or RA (from 55)?

There is no tax relief for contributing to 3 accounts. As for SA and RA (and MA), tax relief would depend on conditions.

All savings in excess of FRS and BHS at 55 can be withdrawn.

FRS can only be paid by monthly payout from 65.

 

[elnewbie]

If her SA already reached FRS, no further topups allowed.

TS didn't mention if his mom's SA alrady reached FRS or not.

You want to contribute to her 3 accounts (OA/SA/MA) or SA (if before 55) or RA (from 55)?

There is no tax relief for contributing to 3 accounts. As for SA and RA (and MA), tax relief would depend on conditions.

All savings in excess of FRS and BHS at 55 can be withdrawn.

FRS can only be paid by monthly payout from 65.

 

[maple96]

If I contribute to my parent CPF as her monthly allowance can she draw out from CPF immediately? Will I get tax rebate?

She has the min sun in place and is age 55 this year

If she is already 55 (ie pass birthday this year), her RA would have been created with 166k (since u said has min sum = FRS in place)

U can no longer topup her SA.

U can topup her RA to ERS, no tax rebate.

U can do VC to her CPF (3 accounts), no tax rebate.

No tax rebate, no talk ?

 

[henrylbh]

If her SA already reached FRS, no further topups allowed.

TS didn't mention if his mom's SA alrady reached FRS or not.

He mentioned that 'She has the min sun in place and is age 55 this year'.

He wants to contribute but not clear whether he wants to top up or make voluntary contribution, though former is more obvious.

To be exact, if passed 55th birthday, can still top up RA to ERS, but no tax relief.

He can make VC (to all 3 accounts) with no tax relief and these contributions can be withdrawn anytime as the mum is 55 and has min sum in place.

 

[highsulphur]

Why do you want to return the housing loan.?

Does it matter (to you) whether it goes to OA and all 3 accounts?

to earn that 2.5%?

it matters as you get higher interest in other accounts?

 

[elnewbie]

Min sum in place doesnt necessarily mean her SA has reached FRS. She could have OA as well. That was the point i was trying to make.

He mentioned that 'She has the min sun in place and is age 55 this year'.

He wants to contribute but not clear whether he wants to top up or make voluntary contribution, though former is more obvious.

To be exact, if passed 55th birthday, can still top up RA to ERS, but no tax relief.

He can make VC (to all 3 accounts) with no tax relief and these contributions can be withdrawn anytime as the mum is 55 and has min sum in place.

 

[pcmdan]

Has she celebrated her birthday yet ?

Hi, yes....she did....

 

[pcmdan]

You want to contribute to her 3 accounts (OA/SA/MA) or SA (if before 55) or RA (from 55)?

There is no tax relief for contributing to 3 accounts. As for SA and RA (and MA), tax relief would depend on conditions.

All savings in excess of FRS and BHS at 55 can be withdrawn.

FRS can only be paid by monthly payout from 65.

I dont mind contributing to her SA....

Am i right to say...if her current CPF OA + SA = 300k, if i top up 10k$ she is able to withdraw $310k - FRS?

 

[pcmdan]

If her SA already reached FRS, no further topups allowed.

TS didn't mention if his mom's SA alrady reached FRS or not.

Oh got such thing one ah? OMG!!!