CPF interest for 2016

[OngHuatHuat]

Got 10k interest total from 3 accounts

Shiok shiok go zoo rong.

 

[SBC]

Me too, slightly over 10k interest.

 

[LiteHouse]

Interest on all accounts has been credited just after midnite.

Thanks for informing.

As expected and once again, the MA interests has overflowed to SA/OA on 4th Jan even though new MA ceiling is supposed to be $52k with effect from 1 Jan. Time to contribute $2.2k.

 

[orange_sky]

Interest is 16k for me. Huat ah

 

[linusz]

Thanks for informing.

As expected and once again, the MA interests has overflowed to SA/OA on 4th Jan even though new MA ceiling is supposed to be $52k with effect from 1 Jan. Time to contribute $2.2k.

It calculated base on last year limit MA. The 2.2k is difference from the new limit?

Sent from Samsung SM-N9005 using GAGT

 

[dork32]

of course there's a difference. It's money owing to yourself vs the bank

there is difference because hdb loan is 2.6% and cpf is 2.5%. if hdb loan is 2.5%, there is totally no difference regards to nett assets

if u dump in, you will have less loan left.
but your cpf is empty.

if you dont dump in, you will have more loan
but your cpf is filled with cash

 

[dork32]

Interest is 16k for me. Huat ah

you have 300+k in your oa? that is quite a lot.

 

[orange_sky]

there is difference because hdb loan is 2.6% and cpf is 2.5%. if hdb loan is 2.5%, there is totally no difference regards to nett assets

if u dump in, you will have less loan left.
but your cpf is empty.

if you dont dump in, you will have more loan
but your cpf is filled with cash

The difference is clear to me.
It's either I owe 2.5% to MY Cpf account or 2.6% to HDB which is lost forever

 

[BBCWatcher]

My current HDB still $70k outstanding.

A few follow-up questions before jumping to any conclusions:

1. How long is the remaining scheduled repayment period for your HDB loan?

2. Excluding an adequate emergency fund reserve (held in a Singapore Savings Bond, for example) -- excluding that -- do you have any other funds available that could be used to pay off your HDB loan at an accelerated rate (or pay off your HDB loan completely)? How much, and how are those funds currently held?

3. Do you intend to buy other leasehold or freehold property, or do you plan to stay with this HDB unit "forever"?

4. Do you have any other debt? If so, how much is that debt, and what is the interest rate on that debt?

 

[orange_sky]

there is difference because hdb loan is 2.6% and cpf is 2.5%. if hdb loan is 2.5%, there is totally no difference regards to nett assets

if u dump in, you will have less loan left.
but your cpf is empty.

if you dont dump in, you will have more loan
but your cpf is filled with cash

OK I see your point on the 0.1% spread

 

[hwarzoner]

10756 for me

 

[bazingaman]

all are paper rich by few K..

 

[orange_sky]

you have 300+k in your oa? that is quite a lot.

I ended the year with slightly over 500k in all 3 accounts. I started the year btw 300 and 400 but returned my housing monies during the year

 

[orange_sky]

Realize that if your ma is already max, your interest will roll out even though ma has increased since 1 Jan as interest was credited on 31 Dec. Can we transfer the money from OA back to ma after the limit has increased?

 

[ocs_woodlands]

Interest is $12894.

My OA is badly depleted after buying over my spouse's share of HDB..

 

[tmkedmw]

Calculating RA interest is the simplest compare to OA especially, with in and out for those with other outgoings.

I prepared myself a simple excel worksheet to do and project the interest for my father's RA with topping up and payout that I can vary.

For 2016, I calculated the interest to be $3,999.15 while CPF credited him only $3,924.15. I am certain this amount will be finalised in the next few day.

After oa/ma/sa interest had been credited yesterday, the RA interest would have increased by $75. So original RA interest of $3924.15 + $75 = $3999.15.
Your spreadsheet is spot on.

This also means that CPF interest is NOT compounded monthly which differs from what CPF website says.

 

[henrylbh]

After oa/ma/sa interest had been credited yesterday, the RA interest would have increased by $75. So original RA interest of $3924.15 + $75 = $3999.15.
Your spreadsheet is spot on.

This also means that CPF interest is NOT compounded monthly which differs from what CPF website says.

how would you know that the RA interest would be corrected and increased by $75 to 3,999.15?

Just checked and yes it's 3,999.15.

 

[elnewbie]

Dun understand, why u buying over your spouse share ??

Interest is $12894.

My OA is badly depleted after buying over my spouse's share of HDB..

 

[henrylbh]

Dun understand, why u buying over your spouse share ??

Could be due to freeing spouse's name for other purpose or could be separation or divorce etc. Or may be to dig out some money from OA?

 

[dork32]

Dun understand, why u buying over your spouse share ??

last time can decouple.

if you buy your wive's share, then your wife becomes homeless. but her cpf will be flush with cash.
the wife then can use the cpf to buy second property and siam absd because she is homeless.

now they cut this loophole.