CPF Life - Standard Plan

[eggie011]

nice, u should have $112,817.47 in your oa
my oa $21,917.68, hehe

Probably you used it for housing? Actually I have less than $112k, OA currently is paying my mortgage loan.

 

[Andrew833]

Probably you used it for housing? Actually I have less than $112k, OA currently is paying my mortgage loan.

You age 65, mortgage loan should be last year liao.

 

[wutawa]

Wait for your funds to come in, sure more than that

what funds?

 

[Andrew833]

what funds?

Your UT or ETF

 

[wutawa]

Your UT or ETF

oh, my ut. I am investing my oa. not much leh.

 

[Andrew833]

oh, my ut. I am investing my oa. not much leh.

Not much also money mah

 

[weng0202]

You forgot interest generated between 55 and 65

Yeah, so FRS + interest earned from 55-65.

 

[zhiguzai]

I received my cpf life monthly payout yesterday. My is the Basic plan, and most of the money is still in the RA. The CPF Life premium deduct from my RA is only about 7.7%. However the RA money can see but only 20% can be withdrawn.

 

[Iyarash11]

is good news to be able to get back 20% from RA at 65
by then likely will leave it inside OA to support fire compounded amount

 

[Unic0rn]

by the way, how to withdraw from CPF when we reach 55 years old??? the system will paynow me a fixed sum monthly???

 

[kelhot2001]

Is this even real? How can you have more than 79k in medisave account?

 

[weiess]

Is this even real? How can you have more than 79k in medisave account?

yalor.. 300k over in MA??!
MA aside.. imagine the interest in OA and SA .. really jiak buay liao..

 

[game goondu]

Obviously fake AI s h i t again

 

[eatingtunic]

I received my cpf life monthly payout yesterday. My is the Basic plan, and most of the money is still in the RA. The CPF Life premium deduct from my RA is only about 7.7%. However the RA money can see but only 20% can be withdrawn.

This is what i do not fully understand, for cpf life basic, for your case, 7.7% deduct till you reach certain age? then the rest of the balance is for ?

How about standard plan ?

 

[yokine3a]

This is what i do not fully understand, for cpf life basic, for your case, 7.7% deduct till you reach certain age? then the rest of the balance is for ?

How about standard plan ?

7.7% to be used as cpflife premium, balance in RA is for mthly payout.

Standard is sweep everything into the pool, RA left with 20% for your withdrawal. Once payout starts, this 20% auto sweep to OA.

 

[eggie011]

This is what i do not fully understand, for cpf life basic, for your case, 7.7% deduct till you reach certain age? then the rest of the balance is for ?

How about standard plan ?

Basic means a small portion of your RA is taken and used as CPF Life premium. Rest is kept in you RA. So your money is divided into two parts.

Payout first comes from your RA. While this is happening, both your RA and CPF life are earning interest. This interest is kept in the part where they are earned. This means that interest earned in your RA will goto your beneficiaries, whereas interest earn by CPF life goes to common pool and will not go to your beneficiaries.

When your RA is finally finished, payout will then start from your CPF Life part. This payout will be less than the payout from RA. Don't ask me why, I don't know how the maths work out. This payout will continue until end of life.

Hope this clear some doubts.

 

[inmyopinion]

Once your "CPF Life" started....they will force close your RA account...can ask Eggie011 to screenshot the lastest front page of his account, the RA portion should be closed and not display on the front page anymore.

RA will the there for u to top up if you want more monthly payout even after CPF life has started .

 

[KnyghtRyder]

This is what i do not fully understand, for cpf life basic, for your case, 7.7% deduct till you reach certain age? then the rest of the balance is for ?

How about standard plan ?

Think you need to investigate how the basic plan works. The payout will come from your RA. The deduction is just to join the annuity. Payout to start after the RA is depleted

 

[inmyopinion]

Brudder can i ask you,

since yr FRS amount is deducted, the remaininng in RA can be transfered to OA.
What happens if u left it in RA? its 4% interest correct? Why not leave it there better?

refer :
https://forums.hardwarezone.com.sg/threads/cpf-life-standard-plan.7220258/post-159783646

 

[inmyopinion]

This is what i do not fully understand, for cpf life basic, for your case, 7.7% deduct till you reach certain age? then the rest of the balance is for ?

How about standard plan ?

CPF life basic .
refer :

https://forums.hardwarezone.com.sg/...e-plan-is-best-for-you.7219969/post-159759954