CPF Life - Standard Plan

[KnyghtRyder]

If topup before 55

If you are asking whether you can withdraw CPF top ups to sa before 55 the answer is no.

 

[KnyghtRyder]

wonder did you had ers or frs when u started? i wanna be on basic too, but information is very little...

They try very hard to default people to standard.

 

[KnyghtRyder]

if moi topup 100k in sa before 55, when 55 moi oa + sa = brs + 100k, then can withdraws 100k cash?

Nope. Top ups are reserved.

 

[KnyghtRyder]

At 55, RA will be created and BRS amount will be transferred to it, assuming you can pledge property. Then the 100k will be transferred to OA. And yes, you can withdraw this 100K from OA.

Nope. Top ups are reserved.

 

[bruiser69]

Bro @Spike, we are the nicest beagles here and pssst! I lifted it off the Red Baron!

 

[y2k_tay]

Touchwood ask only hor......what happened if keechia between 55yo to 65yo or after cpf life is deducted? Touchwood.....just asking only.....

 

[iceblendedchoc]

Touchwood ask only hor......what happened if keechia between 55yo to 65yo or after cpf life is deducted? Touchwood.....just asking only.....

before your payout start, full bequest included interest compounded to your family or relatives if you have no family , no relatives then it goes to government.
after cpf life started payout then it will be whatever amount left after deducting your payout received but no compound interest will be paid

 

[eggie011]

correct me if I am wrong.
if ts chooses the standard plan at 65yo instead of 55yo:
1. his Ra will be deducted only at 65yo
2. his Ra will receive compound int
3. the Ra compound int over 10 years is about $150k
4. his mthly payouts at 65yo will be much more

Correct. But at 55, you can't choose standard plan. You meant FRS?

 

[wutawa]

A few months back, I was asked to select my CPF Life start date and payout plan. I opted to start at 65 and chosed the standard plan.

Correct. But at 55, you can't choose standard plan. You meant FRS?

 

[Spike]

Bro @Spike, we are the nicest beagles here and pssst! I lifted it off the Red Baron!

Just joking, bro bruiser! I am happy for you!

I need to work harder!

 

[yokine3a]

Assuming at age 55, I chose to top up to full ERS max.

1) Can I still continue to top-up RA at age 56, 57 etc since the max ERS will increase every year? Or will the compounded interest fill the gap to max ERS amt year on year?

2) Given that there’s no need for me to leave so much cash for my family as they are already well taken care of, it is better for me to top up to ERS max at age 55 and then choose the standard plan (whether at age 65 or 70), correct?

1. Compounded interest not included in the max ERS you can top up to.

 

[eggie011]

@wutawa Can't quote you msg.

But I chose standard plan at 65. You do know I'm 65 now, right?
I said I chose to start at 65 because I could start anytime between 65-70.

 

[Optrex]

choose standard plan means game over already unless u live till an old ripe age.... MIW is very sly to call it basic and standard plan.... most will just take standard since it is called "standard".....


Read HWZ Forum Rules!

 

[bruiser69]

Just joking, bro bruiser! I am happy for you!

I need to work harder!

Bro Spike, you are one rich dude… erm beagle

 

[Spike]

Bro Spike, you are one rich dude… erm beagle

To be honest, I am very far from rich!

The only thing I don't need to worry is about losing my job!

 

[KnyghtRyder]

Touchwood ask only hor......what happened if keechia between 55yo to 65yo or after cpf life is deducted? Touchwood.....just asking only.....

Nominees will huat

 

[KnyghtRyder]

correct me if I am wrong.
if ts chooses the standard plan at 65yo instead of 55yo:
1. his Ra will be deducted only at 65yo
2. his Ra will receive compound int
3. the Ra compound int over 10 years is about $150k
4. his mthly payouts at 65yo will be much more

How you choose standard plan at 55?

 

[wutawa]

@wutawa Can't quote you msg.

But I chosed standard plan at 65. You do know I'm 65 now, right?
I said I chosed to start at 65 because I could start anytime between 65-70.

oops, I understand now. I misread your 1st post. it is a timeline/event from 55 to 65. therefore u still received the Ra compound int from 55 to 65.

 

[wutawa]

How you choose standard plan at 55?

I misread ts 1st post. 55yo cannot choose payout plan.

 

[SaGu]

choose standard plan means game over already unless u live till an old ripe age.... MIW is very sly to call it basic and standard plan.... most will just take standard since it is called "standard".....


Read HWZ Forum Rules!

sagu reveals the beautiful mystery of CPF Life and it is actually quite simple


At around age 84, the accumulated monthly payouts would be about equal to your age 65-70 RA amount …….

And for those on Standard Plan and still living, they continue to receive their monthly payout which at about age 88, the accumulated monthly payout would be equal to their age 65-70 RA amount plus (pooled) compounded interests. After about age 88 and still living, they will continue to receive their monthly payout from the common interests pool from other Singaporeans until they pass on.


Or for those on Basic Plan, and still living, they continue to receive their monthly payout which at about age 92, the accumulated monthly payout would be equal to their age 65-70 RA amount plus their own (non-pooled) compounded interests. After about age 92 and still living, they will continue to receive their monthly payout from the common interests pool from other Singaporeans until they pass on.



#saguwisdom