CPF Easy Info Thread. :)

[Value.Matrix]

Hi,

I'll reach 55 in 2037. According to calculations, the retirement sum is about $300k. Assuming I've 300k in OA+ SA now, isit true that any excess of 300k I can withdraw at age 55? I.e. Any SA top up and OA contributions, I can withdraw at 55. Or kept in CPF and withdraw "on demand"?

Sorry for the noob question, it really is confusing.

Yes based on current rules.

You can withdraw anything above the FRS in your OA + SA. But just take note of policy changes.

But the order of withdrawal will be from SA, then OA. I rather gamble a bit and draw out all my OA (or use them to be put in RA instead), do SA Shielding (buy bonds or anything that matures after 55 in CPFIS).

So that i have SA and RA account only. MY OA monies will throw to dividend plans, could be 3Gen policies, dividend stocks/REITS or other instruments.

BHS likely will take care of itself through any shield plans and life plans approved for medisave usage.

SA monies will only be used for emergency emergency.

 

[maple96]

I agree with BBCW that it would probably drive more ppl away from understanding the basic features of CPF (and LIFE) if u just throw all the detailed info to the public. There should be a "basic version" and a "comprehensive version".

One problem I face is that I need to search here and there (and still couldn't find the answers ). It gives ppl a feeling that someone is trying to hide something, although I personally don't think so. CPFB should have published one comprehensive guidebook for CPF (and LIFE) which includes ALL the details that so many ppl ask here (what happen to the interest, risk pooling bla bla bla).

U just wake up and talking rubbish here?

U agree with BBW (do u know what he is talking: withhold info at 55 because u dun need to know!) yet u are asking for a basic version and comprehensive version, to be given at 55?

And u complain u cannot find the info u want? And now u want a comprehensive guidebook for CPF (and LIFE) which covers what happen to interest, risk pooling etc?

What I wrote, he misinterprete. I talk “chicken” and he talk “duck” and u agree

What I am highlighting is CPFB had been withholding info about risk pooling and what happens to the various interests for each of the CPF Life Plans at the CPF@55 talks and handouts since CPF Life was implemented, especially for members who have to choose and join at 55! Until early this year at one of the CPF@55 talks, they are still withholding this piece of info! Is it too much to talk or explain. Just go to the roadshows being held now, tell me do u see this info?

However, the vast majority of CPF members don't care and don't have to care, certainly not at age 55.

U agree with this sweeping statement he wrote and yet u are complaining and asking for more info?

U and him obviously have not read or attended the CPF@55 talks! CPF explains @65/70 and "how" to choose the 3 plans, but never explain risk pooling and the interest portion. U believe his rubbish opinion rather than facts!

 

[dork32]

Some already lost with what's written in the website. With more transparency, some still cannot see or understand. Some even went to the press with their blatant ignorance and kpkb

i agree that there is a lot of info in the cpf site. i usually use the search function if i want to be specific.

there are too much info coz the system is too complex. if they were to simplify it, then the needs of some groups of people may be compromised. so too bad loh. they are the ones that create this mess in the first place.

i also agree that some of the people are complaining abt the wrong things at the news paper.

 

[maple96]

we are not here to compete on our command of engrish. we sg people understand wat he is writing despite the grammatical mistakes.

it is just his england too powderful. trying to explain his way out

 

[maple96]

20% withdrawal is meant for people that cannot hit frs and still die die want to withdraw money.

Wrong facts, all members can withdraw 20% at PEA if they have the qualified monies, go to CPF website to read the rules yourself.

 

[dork32]

it is not just hiding info, it is the way that the info is phrased.

eg, all the experts in this forum agrees this is how cpf life standard works
if you have 180k in your ra at 65, all will be transferred to the annuity.
your annuity does not earn interest for yourself but for the pool.
for the first 15 years you draw approx 1k a month from your annuity and not from the pool.
in abt 15years, your annuity will be wiped out.
this when the money in the pool kicks in and continue to pay you the same amt till you die.

"The interest earned on the annuity premiums will be paid to the Lifelong Income Fund and pooled together with the interest of all CPF LIFE participants. The interest will be paid to you as part of your monthly payouts for as long as you live."
this is the official statement of cpf. the bold sentence is wrong. this is not how it works.

 

[henrylbh]

Hi,

I'll reach 55 in 2037. According to calculations, the retirement sum is about $300k. Assuming I've 300k in OA+ SA now, isit true that any excess of 300k I can withdraw at age 55? I.e. Any SA top up and OA contributions, I can withdraw at 55. Or kept in CPF and withdraw "on demand"?

Sorry for the noob question, it really is confusing.

Yes based on current rules.

You can withdraw anything above the FRS in your OA + SA. But just take note of policy changes.

But the order of withdrawal will be from SA, then OA. I rather gamble a bit and draw out all my OA (or use them to be put in RA instead), do SA Shielding (buy bonds or anything that matures after 55 in CPFIS).

So that i have SA and RA account only. MY OA monies will throw to dividend plans, could be 3Gen policies, dividend stocks/REITS or other instruments.

BHS likely will take care of itself through any shield plans and life plans approved for medisave usage.

SA monies will only be used for emergency emergency.

He is indeed confused and you confusing him further with more spices?

He just want simple answer for the time being.

At 55, after meeting FRS in RA, any sum of money in left in SA and or OA can be withdrawn on demand, regardless of whether there was any SA top ups earlier.

like CPF, I not transparent cause I did not say more than what he asked.

 

[henrylbh]

20% withdrawal is meant for people that cannot hit frs and still die die want to withdraw money.

That is fake news

You can withdraw excess of BRS, excluding ….. at anytime from 55 with sufficient property charge/pledge.

After withdrawing all above BRS, you can still withdraw 20% of BRS at 65.

 

[maple96]

Some already lost with what's written in the website. With more transparency, some still cannot see or understand. Some even went to the press with their blatant ignorance and kpkb

Can u imagine what will happen if CPFB implements this guy's recommendation:

However, the vast majority of CPF members don't care and don't have to care, certainly not at age 55. It's contrary to the public interest to overwhelm members with overly detailed information that's not actionable.

10 to 15 years later when u hit 65/70, CPFB will whack u and said " we have given u more than 10-15 years to study the details of all 3 CPF Life Plans for u to make a choice, u mean u still dun understand and chose wrongly at 65/70 and come here to kpkb

 

[maple96]

That is fake news

You can withdraw excess of BRS, excluding ….. at anytime from 55 with sufficient property charge/pledge.

After withdrawing all above BRS, you can still withdraw 20% of BRS at 65.

U also fake news, be careful to use the correct words, otherwise become fake news

"You can withdraw BRS, ....." (BRS is 50% FRS)

" You can .....withdraw 20% of RA balance, excluding.... at 65" (even u did not opt for BRS)

I am enjoying this "confusionalogy"

 

[henrylbh]

U also fake news, be careful to use the correct words, otherwise become fake news

"You can withdraw BRS, ....." (BRS is 50% FRS)

" You can .....withdraw 20% of RA balance, excluding.... at 65" (even u did not opt for BRS)

There is no fake. Not transparent may be only.

I said 'excess of BRS'. What is BRS, I did not elaborate or not transparent.

You can withdraw lump sum of 20% from RA at 65, regardless of whether you had withdrawn amount in excess of BRS earlier.

 

[Merg91]

What don't you all write to ST forum or do a big FB?

 

[henrylbh]

What don't you all write to ST forum or do a big FB?

If want to write, you may need few volumes and need updating now and then.

 

[maple96]

There is no fake. Not transparent may be only.

I said 'excess of BRS'. What is BRS, I did not elaborate or not transparent.

You can withdraw lump sum of 20% from RA at 65, regardless of whether you had withdrawn amount in excess of BRS earlier.

ok, give u the benefit of the doubt, agree not transparent, not fake, must learn from u from now on

 

[maple96]

What don't you all write to ST forum or do a big FB?

U want attention, u can go write

 

[justwakeup]

U just wake up and talking rubbish here?

U agree with BBW (do u know what he is talking: withhold info at 55 because u dun need to know!) yet u are asking for a basic version and comprehensive version, to be given at 55?

And u complain u cannot find the info u want? And now u want a comprehensive guidebook for CPF (and LIFE) which covers what happen to interest, risk pooling etc?

What I wrote, he misinterprete. I talk “chicken” and he talk “duck” and u agree

What I am highlighting is CPFB had been withholding info about risk pooling and what happens to the various interests for each of the CPF Life Plans at the CPF@55 talks and handouts since CPF Life was implemented, especially for members who have to choose and join at 55! Until early this year at one of the CPF@55 talks, they are still withholding this piece of info! Is it too much to talk or explain. Just go to the roadshows being held now, tell me do u see this info?



U agree with this sweeping statement he wrote and yet u are complaining and asking for more info?

U and him obviously have not read or attended the CPF@55 talks! CPF explains @65/70 and "how" to choose the 3 plans, but never explain risk pooling and the interest portion. U believe his rubbish opinion rather than facts!

Too bad...as usual, you get personal with BBCW (and some others) on whatever he writes. And as usual you keep complaining about chicken and duck And as usual you bring your heated argument with him (and some others) to almost all CPF threads And as usual you are being rude in your reply (e.g. making fun of someone's name/nick).

To be honest, you have contributed quite a lot in CPF-related topics. But you seem easily irritated by BBCW (What have you done sir ) that whatever he said, you will object (both rightly and wrongly in my opinion). And whoever support his view, they are treated as his cronies. And whoever does not agree with you, it is chicken and duck talk. Then the whole thread becomes your schoolboy argument thread.

Go and read which part I agree with BBCW (I don't necessarily agree 100% with him), though I don't expect you to do so.

 

[Merg91]

Summarise lah.
Doctors study thick volumes does not mean patients need to read /know all the details.

Most of us are just the blur patients.

If want to write, you may need few volumes and need updating now and then.

 

[Merg91]

For the benefit of 'mankind' & blur Singapore residents like me.
The most you may go exile to Jurong West, not Siberia or executed by buibui Kim.

I always thought I am with 100% trust in cpf.
You all make me wanting to go basic for my future ERS otherwise I feel cheated.

U want attention, u can go write

 

[maple96]

Too bad...as usual, you get personal with BBCW (and some others) on whatever he writes. And as usual you keep complaining about chicken and duck And as usual you bring your heated argument with him (and some others) to almost all CPF threads And as usual you are being rude in your reply (e.g. making fun of someone's name/nick).

To be honest, you have contributed quite a lot in CPF-related topics. But you seem easily irritated by BBCW (What have you done sir ) that whatever he said, you will object (both rightly and wrongly in my opinion). And whoever support his view, they are treated as his cronies. And whoever does not agree with you, it is chicken and duck talk. Then the whole thread becomes your schoolboy argument thread.

Go and read which part I agree with BBCW (I don't necessarily agree 100% with him), though I don't expect you to do so.

U think too highly of yourself. My comments are targeted at u! Go reflect! U can always click ignore.

Already told u "Old Folks behave like kids"

U are still young? cannot differentiate facts from opinion, right or wrong. Can u quote when he was right and I disagree ?

"Most people will learn from their mistakes if they won't so busy denying them", as usual

 

[dork32]

But you seem easily irritated by BBCW (What have you done sir ) that whatever he said, you will object (both rightly and wrongly in my opinion). And whoever support his view, they are treated as his cronies. And whoever does not agree with you, it is chicken and duck talk. Then the whole thread becomes your schoolboy argument thread.

actually i feel it is bbc that will object everything that we write that are against his view.

i did also mention that bbc is knowledgable. but this time i think he tried so hard to anti us that he went bonkus.
things like
"most of us dont care about cpf" and "it is better garmen not to put up info so as not to confuse us" is absolutely crazy.