CPF Life - Standard Plan

[eggie011]

No go out Jalan Jalan?

Hot weather. Malls are crowded. Usually just go Giant buy titbits. My regular best friend whom I go out with is not free as his daughter is back from Japan for a few weeks with his grandson, so no time for me too.

 

[snowcrabramyeon]

Hmm, not really. But planning to apply for CCA. Once I get it, will sell my current condo. This should free up a lot of cash.

Are you single? If yes, CCA is certainly a good option.

 

[tuxguy]

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.

Good clear explanations. Thanks. Many ppl choose basic cos they feel should leave something for loved ones when they depart

No right or wrong, but personally feel the priority should be take good care of yourself with enough money and not burden those living instead of thinking leaving something behind

 

[shodan99]

Good clear explanations. Thanks. Many ppl choose basic cos they feel should leave something for loved ones when they depart

No right or wrong, but personally feel the priority should be take good care of yourself with enough money and not burden those living instead of thinking leaving something behind

Exactly this should be the correct mindset, what's the point of suffering yourself just to squeeze something out as your legacy. The best legacy to leave behind is ensuring that your kids are equipped with the right skills and mindset for themselves. If capable, they can go out to earn it for themselves.

Just not depending on them for your next meal and enabling them to fully go out to take on the world without you hindering them

 

[ramlee]

Frankly, I see CPF life as a source of income supplement than to rely on as the primary source of retirement income.

Probability of inflation eroding the monthly stipends is high in the first.

At that age, it's enough for me to eat cai png daily with the occasional restaurant treat. I don't see myself enjoying the same quality of life as today. Heart willing, body might not.

When there’s a will there’s a way

 

[yokine3a]

Hmm, not really. But planning to apply for CCA. Once I get it, will sell my current condo. This should free up a lot of cash.

This nov bto has one of the best cca location, just next to caldecott mrt, can consider lor.

 

[jas1701]

I pledge my hse and till now this cpf thingy is still very confusing. 2yrs time will be 65 so i better go cpf board to find more details or there is new rules out which I do not know.

 

[eggie011]

This nov bto has one of the best cca location, just next to caldecott mrt, can consider lor.

Yes, aiming for that one. I also wonder if other sites have leftovers. Eg Merpati. That is also a good location.

 

[eggie011]

I pledge my hse and till now this cpf thingy is still very confusing. 2yrs time will be 65 so i better go cpf board to find more details or there is new rules out which I do not know.

Do tell us when you've learn more. Not much real life info shared about this.

 

[yokine3a]

Yes, aiming for that one. I also wonder if other sites have leftovers. Eg Merpati. That is also a good location.

SBF only in feb mth

 

[Nicholas92]

Okay, a lot of questions on the part that is left in the RA. This is the 20% that you can take back. I've read some stuff, did some maths and this is the answer.

This amount is calculated as follows.

(RA - topups) * 0.2 - 5000.

Let's put in my numbers.

(253011.18 - 10000) * 0.2 - 5000
= 43602.24.

So it is correct.
I assume sometime in the future, it will be transferred to OA. Again, will update when that happens.

So it seems to me, topups made after 55 --> only the principal (10k) is deducted from the withdrawal formula.
but topups made before 55 --> principal and interest will be deducted? (and this includes interest earned from 55 to 65)

still a bit unclear on why there is this discrepancy.

 

[Spike]

When there’s a will there’s a way

Can you lead my way?

 

[Iyarash11]

Good clear explanations. Thanks. Many ppl choose basic cos they feel should leave something for loved ones when they depart

No right or wrong, but personally feel the priority should be take good care of yourself with enough money and not burden those living instead of thinking leaving something behind

if got enough cash after 65 monthly expenditure can half cpflife payout half cash, so basic plan is ok for me.
But I need to confirm if the following example from Seedly article is it accurate

https://blog.seedly.sg/cpf-life-monthly-payouts/

cos goggle hab some different numbers when I ask how long can a given amount of FRS can last.
but as always, the different ways of asking a question will lead to different AI ans

 

[yokine3a]

if got enough cash after 65 monthly expenditure can half cpflife payout half cash, so basic plan is ok for me.
But I need to confirm if the following example from Seedly article is it accurate

https://blog.seedly.sg/cpf-life-monthly-payouts/

cos goggle hab some different numbers when I ask how long can a given amount of FRS can last.
but as always, the different ways of asking a question will lead to different AI ans

I used cpflife payout estimator, the diff between my 80+ n 90+ is just a mere $20 drop.

 

[bruiser69]

As long as with my CPF I can eat white porridge with black bean rice, it is ok

 

[snowcrabramyeon]

Yes, aiming for that one. I also wonder if other sites have leftovers. Eg Merpati. That is also a good location.

https://www.straitstimes.com/singap...asic-services-cut-following-lacklustre-demand

According to the above article, only the first 2 CCAs are over-subscribed. The other 3 are under-subscribed. So you might want to check out those.

 

[shodan99]

Yes, aiming for that one. I also wonder if other sites have leftovers. Eg Merpati. That is also a good location.

are you single? thats why go for CCA? I didnt know of this until now

 

[wutawa]

if got enough cash after 65 monthly expenditure can half cpflife payout half cash, so basic plan is ok for me.
But I need to confirm if the following example from Seedly article is it accurate

https://blog.seedly.sg/cpf-life-monthly-payouts/

cos goggle hab some different numbers when I ask how long can a given amount of FRS can last.
but as always, the different ways of asking a question will lead to different AI ans

this ers is outdated but it doesnt matter. brs, frs or ers are just some guidelines on your ra balance. just know that the more your ra balance, the higher your cpf life mthly payout.

 

[audiovideo]

As long as with my CPF I can eat white porridge with black bean rice, it is ok

plus a few lobsters
900k after 10yrs will compound to 1.3million?

 

[marcoyeo]

Stay home, watch tv, YouTube, play games. Only go out for food.

Everyday eat out? Do you cook?

Still have the energy to go travel JB or nearby countries for holiday?