CPF Life - Standard Plan

[weiess]

I am confused, how does it work??

if CPF life premium is $209,498.94
this amount is based on your 2016 FRS with interest??

Bookmarked and camp for more info and to learn more.
Thank you TS for sharing!!

 

[1982-1994]

 

[Dividends]

There is that 20% option less 5k withdrawal option before payout start.

Thanks for the info, I presume that amount is only withdrawable from 65 years old?

 

[bruiser69]

I should be getting the first payout on 2/3 Sep. I'll definitely update.

Congrats on getting back your monies from chenghu

 

[addict951]

ts, 1 moar kwestian
I remember you posted in aother thread the difference between the std & basic plans - the sole difference is whether how much more you want to bequeath your beneficiaries right? Thx

 

[yokine3a]

I wonder what formula cpf use to decide this $209k for premium.

I always thought for standard plan, everything in RA will be used as premium.

 

[speedsonic]

ts, 1 moar kwestian
I remember you posted in aother thread the difference between the std & basic plans - the sole difference is whether how much more you want to bequeath your beneficiaries right? Thx

ya cos Standard Plan Higher Payouts, Lower Bequest. vice versa for Basic Plan.

 

[SaGu]

Is this considered average?

sagu submit @bruiser69 must thank the Government for creating a wealth-generating environment and forcing such a huge savings for him



#saguwisdom

 

[eggie011]

ts, 1 moar kwestian
I remember you posted in aother thread the difference between the std & basic plans - the sole difference is whether how much more you want to bequeath your beneficiaries right? Thx

Basic plan, ~10% of your RA goes to CPF Life, 90% remain in RA. This 90% earns interest which will be bequeathed. However, payout is lesser.
Standard plan. Interest earned from your CPF Life premium stays in the common pool, will not be bequeathed. Payout is higher than basic plan.

 

[bruiser69]

sagu submit @bruiser69 must thank the Government for creating a wealth-generating environment and forcing such a huge savings for him



#saguwisdom

It was just a one minute humble brag lah. Nao I go hide my face liao

 

[addict951]

@bruiser69, you solded your pigeon hole that’s huai your OA balance ish high ah?

 

[SaGu]

sagu observes many people think they can save the same or if not more money than their CPF money if the Government had not have the CPF system that forces your employers to also contribute to your CPF money, true ?



#saguwisdom

 

[bruiser69]

@bruiser69, you solded your pigeon hole that’s huai your OA balance ish high ah?

Skali ATB come knocking

 

[yokine3a]

Basic plan, ~10% of your RA goes to CPF Life, 90% remain in RA. This 90% earns interest which will be bequeathed. However, payout is lesser.
Standard plan. Interest earned from your CPF Life premium stays in the common pool, will not be bequeathed. Payout is higher than basic plan.

Increase to 20% liao

 

[keenklee]

@eggie011

IMHO.
I was reading wtih concern what will happen to the 43,000 in RA.
AI is telling me if never withdraw, it will transfer to CPF Life Premium and lock it there for higher payout.
Of course AI could be wrong.
Do let us know once you have updates.

 

[bruiser69]

@eggie011

IMHO.
I was reading wtih concern what will happen to the 43,000 in RA.
AI is telling me if never withdraw, it will transfer to CPF Life Premium and lock it there for higher payout.
Of course AI could be wrong.
Do let us know once you have updates.

I could be wrong. But I think it is the 20% that will be transferred back to the OA.

 

[SaGu]

sagu submit TS should have no worry because he can always buy the remaining money or additional money to buy more CPF Life Premium and receive a slightly higher monthly payouts



#saguwisdom

 

[kan-kon]

so your FRS sum at 2016 was $161K

but they withdraw $209K only for cpf life?

is it because you have set the standard amount in 2016?

is it possible to set higher monthly payout? (topup RA)

please share more..

 

[Jeremy1]

For me cfm pledge my property and downgrade to basic plan from standard plan.

 

[charsiewfan]

Gxgx ts for the retirement, is TS oldest edmwer here?