CPF Easy Info Thread. :)

[polyglob]

"If decision is no change or small change is +ve for the new cohort ".... hmmm... Personally I prefer a bigger increase.

Then you just project bigger lor, like 5% p.a. counting from $181k until you are 55.

 

[maple96]

"If decision is no change or small change is +ve for the new cohort ".... hmmm... Personally I prefer a bigger increase.

I accept and respect your different views.

Ha Ha I favour big increment. But more ordinary wage workers will be unhappy. From JT hint, BRS may no longer be half of FRS.

Then you just project bigger lor, like 5% p.a. counting from $181k until you are 55.

Most who are above 55 and/or planned this game with expected increase in FRS based on past history, might be disappointed as they expect the big increases in the future to meet their plans/goals

Never base your plan on something which is not guaranteed without a plan B

 

[maple96]

the way you post, you are at least as rich, if not richer, as most of us.

different schemes are suitable for different people. if you feel that bequest is of the least importance, choosing standard or escalating may be a better choice.

if it is only for yourself, bbc did mention that standard is definitely more than basic for all situations

U might be right that my thinking is richer than most of u

Now u are thinking and talking like CPFB and BBC

I have repeated many times here, I do not have dependents and my choice is Basic Plan. Dead or alive, I get the max refund. If I join CPF Life at 65 and kena CI (say) at 66, I can get a bigger refund until I die. Worst is ICBC. Then I think of how to C

Normally, only when one is faced with challenges, limited resources ($), with challenging priorities and choices, one will seek and find solutions.

Maybe most of those reading this thread are likely to be wealthily well to do, are contented with the secret recipe to make CPF Life your bequest vehicle, so not thinking hard to find alternative solutions based on the assumptions I posted to make CPF Life your retirement income for life vehicle

 

[kelhot2001]

Lai Liao Lai Liao, BHS increase to 60K liao in 2020

 

[romeo88]

5% increase? More than the interest rate for MA - so come 1 Jan, there's opening for 1% top-up (if already max BHS).

Lai Liao Lai Liao, BHS increase to 60K liao in 2020

 

[kehyi4]

https://www.straitstimes.com/singapore/cpf-interest-rates-to-remain-unchanged-for-first-quarter-of-2020
CPF interest rates to remain unchanged for first quarter of 2020
...
From Jan 1, the Basic Healthcare Sum for members below 65 will be raised from $57,200 to $60,000.

Those who turn 65 in 2020 will have the sum fixed at $60,000, which will not be changed.

Those who are 66 and above in 2020 will see no changes to their cohort's Basic Healthcare Sum.

The Basic Healthcare Sum is the estimated savings required for basic subsidised healthcare needs in old age.

It is adjusted yearly for members below 65 years of age to keep pace with the growth in Medisave withdrawals. Once members reach the age of 65, the sum will be fixed for the rest of their lives.

 

[kehyi4]

BHS trend, for info:

2015 - 48,500
2016 - 49,800 (+2.68%)
2017 - 52,000 (+4.42%)
2018 - 54,500 (+4.81%)
2019 - 57,200 (+4.95%)
2020 - 60,000 (+4.90%)

 

[Yallingup]

Is there any way to earn miles while topping up your SA account? Can use credit card via AXS?

 

[buaytuckchek]

BHS trend, for info:

2015 - 48,500
2016 - 49,800 (+2.68%)
2017 - 52,000 (+4.42%)
2018 - 54,500 (+4.81%)
2019 - 57,200 (+4.95%)
2020 - 60,000 (+4.90%)

Based on the trend, the 4% MA interest is unable to catch up with the BHS. CPF contribution from employment and/or self topup is necessary to close the gap.

Frustrating that despite with advancement of technology, the medical doesn't become more affordable, but raise instead.

 

[BBCWatcher]

Is there any way to earn miles while topping up your SA account? Can use credit card via AXS?

Not in any way that's going to be worth the miles, points, or rebates.

You can make a CPF top up at an AXS kiosk using a Diners Club (Singapore) card. However, you won't earn any Diners Club points. But you will enjoy a little bit of "float," meaning that you won't owe Diners Club a repayment until their bill comes due.

 

[maple96]

Is there any way to earn miles while topping up your SA account? Can use credit card via AXS?

Game over!

A few years ago, there was a credit card payment option in ecashier. CPFB removed it because of low usage. Actually it is due to excessive usage, people overpaying the annual limit to earn credit card rewards/rebates due to a loophole in ecashier

 

[SKenny]

Then you just project bigger lor, like 5% p.a. counting from $181k until you are 55.

This is an impossible task for me.

 

[SKenny]

Most who are above 55 and/or planned this game with expected increase in FRS based on past history, might be disappointed as they expect the big increases in the future to meet their plans/goals

Never base your plan on something which is not guaranteed without a plan B

Having for a preference a higher increase is NOT the same as our future plan is based on (or dependent on) a higher increase.

Just saying....

 

[dork32]

Now u are thinking and talking like CPFB and BBC

I have repeated many times here, I do not have dependents and my choice is Basic Plan. Dead or alive, I get the max refund. If I join CPF Life at 65 and kena CI (say) at 66, I can get a bigger refund until I die. Worst is ICBC. Then I think of how to C

yes i admit that i talk like bbc in this aspect. There were a few instances that we share the same thought.

you are right that the refund if you kena ci will make basic much better than standard.

but if kena ci, i get money also cannot enjoy. maybe can it be used for medical. cpf life refund at this early stage will be small compared to the funds that i have. i believe wat i have + the medical insurance will be able to tide me over till i die.

if this is the case, i may want to go for the standard. i will use the big refund that i may get (but dont really need it) to buy insurance that i die very old.

then again to each its own. you have your own game plan, i have mine.

 

[maple96]

yes i admit that i talk like bbc in this aspect. There were a few instances that we share the same thought.

you are right that the refund if you kena ci will make basic much better than standard.

but if kena ci, i get money also cannot enjoy. maybe can it be used for medical. cpf life refund at this early stage will be small compared to the funds that i have. i believe wat i have + the medical insurance will be able to tide me over till i die.

if this is the case, i may want to go for the standard. i will use the big refund that i may get (but dont really need it) to buy insurance that i die very old.

then again to each its own. you have your own game plan, i have mine.

how can your refund from standard be bigger than basic plan when u lose 4% +1%+1%?

U are lost just to win, like BBC skew your arguments

I want the refund from Basic Plan because it is my money, whatever I use it for, it is my money returned to me, capital +4%+1%+1%, to be distributed according to my Will or CPF nomination. I dunno when it will happen

Ok maybe u really changed your mind, u no longer go for Basic Plan, u are going for Standard Plan from now on

 

[Yallingup]

Sucks. But thanks to both for the advice!

Game over!

A few years ago, there was a credit card payment option in ecashier. CPFB removed it because of low usage. Actually it is due to excessive usage, people overpaying the annual limit to earn credit card rewards/rebates due to a loophole in ecashier

 

[dork32]

how can your refund from standard be bigger than basic plan when u lose 4% +1%+1%?

U are lost just to win, like BBC skew your arguments

I want the refund from Basic Plan because it is my money, whatever I use it for, it is my money returned to me, capital +4%+1%+1%, to be distributed according to my Will or CPF nomination. I dunno when it will happen

Ok maybe u really changed your mind, u no longer go for Basic Plan, u are going for Standard Plan from now on

you may have misunderstood.

i did not say standard refund bigger than basic. i said the other way.

wat i said is i will not be able to enjoy the refund if i kena ci.

i said i will switch to standard if i do not have anyone to bequest to. i have wife and two kids. i will stay at basic.

 

[maple96]

you may have misunderstood.

i did not say standard refund bigger than basic. i said the other way.

wat i said is i will not be able to enjoy the refund if i kena ci.

i said i will switch to standard if i do not have anyone to bequest to. i have wife and two kids. i will stay at basic.

Ok I guess as much, u will change your plans if at 65/70 u no longer have dependents.

For me, it will always be Basic Plan.

I know how to enjoy the refund before I die, we are different

 

[mp4005 help]

i have a query.

if my OA has $60k, SA $200k. MA - max out. Come Jan 20 - if i top up my medisave to max it out, am i eligible for the self voluntary top up tax rebate?

cause i already hit my FRS and i read that hitting FRS and topping up unable to get the tax rebate.

 

[SBC]

i have a query.

if my OA has $60k, SA $200k. MA - max out. Come Jan 20 - if i top up my medisave to max it out, am i eligible for the self voluntary top up tax rebate?

cause i already hit my FRS and i read that hitting FRS and topping up unable to get the tax rebate.

Yes.

Spent so much on property?