CPF Life - Standard Plan

[BBCWatcher]

Yes, there was such an option. I had no idea what it meant, so I said no, haha. Thanks for the clarification.
Anyway, like you said, we can always add it back to RA later to increase our premium for more payout, so it's not a big deal.

If that's your intention, I'd ask the CPF Board to do that now so you get the full 4.0% p.a. interest benefit (computed for your lifetime payouts). Once that sum lands in OA it only earns 2.5% interest, and only for whole months.

Alternatively, once that sum lands in OA you could transfer it to a loved one's RA, such as a spouse's, to boost their CPF LIFE payouts.

 

[d3n]

U got any real kids?

no, single and free

 

[dilphinus]

Since you don't need the money. Just transfer oa to sa. By the time you are eligible for elderly 2 room your SA would have been closed and the RA created. Then anything left over would go back to your OA anyway.

So you might as well take advantage of the higher interest while you can.

Good point! Thanks!

I have to be really sure that I won't be purchasing any property in Singapore using CPF in the next decade then!

 

[weng0202]

Thank you..
But I jump straight away to real trade after 2 months of YouTube watching/learning and asking gemini...

I dont want to paper trade becos later paper trade earn and real trade lose is a very demoralising thing..

N really paper trade 1 year... really got ppl do that?

But I totally agree with playing with what u can afford to lose and not borrow money to play....

Why do you want to do option trading when you retire? Should go for something safer?

 

[wutawa]

My SA has less than $100k. Won't grow anymore cos I'm not living/working in Singapore.

My OA and SA combined now, is more than the projected FRS when I turn 55.

My question is. Should I transfer my OA to SA now to earn a higher interest?

I'm not looking at getting a property in Singapore in the near future. May after a decade later or so when I qualify for the elderly 2 room BTO. If I'll be doing this, I have more than sufficient in my OA now to pay for it. Again, the question is, after buffering the BTO amount, shall I transfer the excess to my SA account?

If it matters or is relevant, I will be eligible to receive pension (in Australia) when the time comes.

Not looking to do any cash top-up at the moment cos we need the cash to buy a property in Australia.

1 option is to invest your oa for higher yield.

(OA vested)

 

[wutawa]

My parent when retire pledged property and empty ra but still not enough to reach frs. Now whenever I deposit cash into ra, the ra is quickly emptied to add to the cpf life premium. There is a bar that tells still how far to the frs.

if pledge property, it should be brs?

 

[1982-1994]

Good point! Thanks!

I have to be really sure that I won't be purchasing any property in Singapore using CPF in the next decade then!

Better to留一手

 

[luei74]

Better to留一手

CPF expert lai liao

 

[WoollyMammoth]

if pledge property, it should be brs?

Yes, less than brs in fact.
on the website, it will show a bar. Half of the bar is colored property, the other half of bar partially colored with cpf life premium paid and full bar is labeled frs.

 

[KnyghtRyder]

if pledge property, it should be brs?

Half of the FRS is the pledge. The other half you still have to make up.

 

[KnyghtRyder]

Good point! Thanks!

I have to be really sure that I won't be purchasing any property in Singapore using CPF in the next decade then!

If you need to come back here for some reason just rent.

 

[kiyomaro]

bookmarked

 

[wutawa]

Yes, less than brs in fact.
on the website, it will show a bar. Half of the bar is colored property, the other half of bar partially colored with cpf life premium paid and full bar is labeled frs.

erm.. no point pledging if balance less than BRS..

 

[game goondu]

Why do you want to do option trading when you retire? Should go for something safer?

Errrh.... do you know option trading?
i actually find it safer than the stocks itself...

anyway, i just started. maybe just beginner luck so far for the past 2 months.

 

[bruiser69]

Don’t gamble with CPF monies

 

[weng0202]

Errrh.... do you know option trading?
i actually find it safer than the stocks itself...

anyway, i just started. maybe just beginner luck so far for the past 2 months.

I do know a thing or two about it. Depends on what you buy, can get burnt quite badly if you do not follow the rules you set. A little similar to trading if you do not set cut loss. For someone who is going into retirement, I would not suggest going into options.

Individual stocks have risk as well so index is probably safer.

 

[game goondu]

I do know a thing or two about it. Depends on what you buy, can get burnt quite badly if you do not follow the rules you set. A little similar to trading if you do not set cut loss. For someone who is going into retirement, I would not suggest going into options.

Individual stocks have risk as well so index is probably safer.

Ya... index safer...
I using options to accumulate enough funds for my retirement...

 

[weng0202]

Ya... index safer...
I using options to accumulate enough funds for my retirement...

If you buy call options and are willing to buy the shares if it hits the strike price, then I think it's okay.

 

[game goondu]

If you buy call options and are willing to buy the shares if it hits the strike price, then I think it's okay.

Errh... this is sell puts to be more correct. .

Buy call is more like buy lottery tickets...

 

[Keyite2021]

The 20% RA withdrawal amount will be transferred to the OA on the month of starting cpf life payouts.

When applying to start the cpf life payouts, there’s one part of the online application that will ask whether would you like to increase your cpf life payout monthly amount using your withdrawable CPF, which is using from your 20% RA withdrawal amount plus OA balance. If you choose not to increase payouts, it will remain withdrawable as a lump sum anytime.
Also anytime afterwards you can of course still apply to transfer that amount to RA to top up your cpf life payouts. It’s flexible.

Can explain more? What do u mean by Balance OA? So going by today’s FRS, if i have 220k in my SA and my bday is tmw, SA will be wiped out right? Supposing i have 700k in my OA (inflated this so that its more than ERS), Does this mean that in 2036, i can throw all my OA into RA and not touch the RA 20% to get a much bigger monthly payout?
It’s like throwing all your CPF inside and get payouts. Is this what u mean? Sorry a little blur here