CPF Easy Info Thread. :)

[elnewbie]

Opportunity cost..SA is alresdy getting 4% so no point using SA.

Why is it better to top up with cash?

 

[elnewbie]

There is an option on the cpf nomination form where one can transfer to the nominees cpf SA instead of cash.

Under this option, when the nominee reaches age 55, can he withdraw such funds upon meeting FRS ? I would assume so...

They including MA and RA exist even after one is gone if nominee do nothing and the accounts will continue to earn respective interest till end of year when death occurs.Then all will be merged to OA and continue to earn interest at OA rate. After 7 years, interest payment cease if nominee still does not want to withdraw the CPF.

 

[henrylbh]

There is an option on the cpf nomination form where one can transfer to the nominees cpf SA instead of cash.

Under this option, when the nominee reaches age 55, can he withdraw such funds upon meeting FRS ? I would assume so...

I see no benefit in selecting enhanced nomination when cash offers so much flexibility and satisfies more needs.

 

[crimsontactics]

I see no benefit in selecting enhanced nomination when cash offers so much flexibility and satisfies more needs.

Unless you happen to live a long life. Then that cash may not last as long as you think.

It's all a gamble.

Sent from OPPO F1s using GAGT

 

[elnewbie]

I thought your family situation you mentioned previously was similar to mine ?

I have a brother who can't be trusted with money..its better that my mom's cpf go to his cpf rather than cash...at least he has to wait till 55 before he can cash out.

I see no benefit in selecting enhanced nomination when cash offers so much flexibility and satisfies more needs.

 

[crimsontactics]

I thought your family situation you mentioned previously was similar to mine ?

I have a brother who can't be trusted with money..its better that my mom's cpf go to his cpf rather than cash...at least he has to wait till 55 before he can cash out.

Wah what happened?

Sent from OPPO F1s using GAGT

 

[henrylbh]

I thought your family situation you mentioned previously was similar to mine ?

I have a brother who can't be trusted with money..its better that my mom's cpf go to his cpf rather than cash...at least he has to wait till 55 before he can cash out.

Of course for that situation like nominees who are gamblers or drug addicts, I would certainly and without hesitation choose enhanced nomination. The giver must be very clear the benefit far outweigh the disadvantage of the scheme.

 

[elnewbie]

He will easily blow his inheritance on wine, women and song...

Go Ktv hang a $5k flower. Rinse and repeat each week and u get the idea how fast money can be spent.

Wah what happened?

Sent from OPPO F1s using GAGT

 

[crimsontactics]

He will easily blow his inheritance on wine, women and song...

Go Ktv hang a $5k flower. Rinse and repeat each week and u get the idea how fast money can be spent.

But is he ASK?

Sent from OPPO F1s using GAGT

 

[elnewbie]

Just saw on CPF website:

Q: what happens when i pass away ?

A: your CPF Life unused annuity premium (WITHOUT INTEREST) will be passed on to your beneficiaries.

Take note people, its NO interest. Stil think the Standard plan is great ??

 

[a4973]

Just saw on CPF website:

Q: what happens when i pass away ?

A: your CPF Life unused annuity premium (WITHOUT INTEREST) will be passed on to your beneficiaries.

Take note people, its NO interest. Stil think the Standard plan is great ??

seems like Basic Plan is better as i think only 10% is withdrawn to Annuity Fund & the 90% remains in RA earning up to 6%?

am i right on this?

 

[henrylbh]

seems like Basic Plan is better as i think only 10% is withdrawn to Annuity Fund & the 90% remains in RA earning up to 6%?

am i right on this?

Those who choose standard plan are expecting to live above 85

 

[elnewbie]

Where is the source for this 85 ?

I read in some handbook that its 90 years.

Those who choose standard plan are expecting to live above 85

 

[crimsontactics]

Where is the source for this 85 ?

I read in some handbook that its 90 years.

I believe 90 is the point when you will earn more in net term.

Sent from OPPO F1s using GAGT

 

[dork32]

does standard also deduct 10% at the start?

if it does not, then standard is good is you die at 66 to 68. This is about the time the interest on the remaining 90% in basic takes to recover the 10% loss

 

[a4973]

does standard also deduct 10% at the start?

if it does not, then standard is good is you die at 66 to 68. This is about the time the interest on the remaining 90% in basic takes to recover the 10% loss

i remember Standard is 100% move to Annuity Pool from time you make the decision for Standard. https://www.cpf.gov.sg/members/faq/schemes/retirement/cpf-life
i have used the CPF LIFE Payout Estimator using my cohort year 1965 & RA Balance $170k
my take is the difference in payout is negligible on a per month basis but the bequest alot of difference from 75 onwards.

 

[dork32]

i remember Standard is 100% move to Annuity Pool from time you make the decision for Standard. https://www.cpf.gov.sg/members/faq/schemes/retirement/cpf-life
i have used the CPF LIFE Payout Estimator using my cohort year 1965 & RA Balance $170k
my take is the difference in payout is negligible on a per month basis but the bequest alot of difference from 75 onwards.

eg you choose standard. you move 200k to pool. you start to draw 1.2k a month. you die 12 months later. you get back 200k- 12*1200 = 185 600.

eg you choose basic.10% kena deducted so 180k left in the ra. you draw 1.1 k a month, you die 12 months later you get back 180k - 12*1100 + interest. This sum is confirm less that 185600.

so if you die choose to die at 66, then choose standard.

 

[maple96]

eg you choose standard. you move 200k to pool. you start to draw 1.2k a month. you die 12 months later. you get back 200k- 12*1200 = 185 600.

eg you choose basic.10% kena deducted so 180k left in the ra. you draw 1.1 k a month, you die 12 months later you get back 180k - 12*1100 + interest. This sum is confirm less that 185600.

so if you die choose to die at 66, then choose standard.

why after so much discussion and posts by others, u still don't think u can get back your 10% unused CPF life premium?

 

[elnewbie]

And what makes u think it can be refunded if unused ?

CPF seems silent on this...

why after so much discussion and posts by others, u still don't think u can get back your 10% unused CPF life premium?

 

[maple96]

And what makes u think it can be refunded if unused ?

CPF seems silent on this...

u posted the following yesterday:

Just saw on CPF website:

Q: what happens when i pass away ?

A: your CPF Life unused annuity premium (WITHOUT INTEREST) will be passed on to your beneficiaries.

Take note people, its NO interest. Stil think the Standard plan is great ??