CPF Life - Standard Plan

[KnyghtRyder]

So if never top-up anything to RA, it will be 20% of the FRS kept there from 55 to 65?

You forgot interest generated between 55 and 65

 

[KnyghtRyder]

if already hit FRS at 55 and RA was created.
is it wise to continue to top up RA? so to get more cpf life monthly payout at 65 ?

Only you can answer that for your ownself. Everyone's situation is unique.

 

[KnyghtRyder]

Haven't decide.
Was thinking from 55 to 65, still got 10yrs to decide whether is a good move..

The longer you wait the less you benefit from compounding interest.

 

[bruiser69]

Que sera sera

 

[KnyghtRyder]

base on Y2026, FRS is 220,400. At Y2036 which is age 65, CPF life monthly payout is 1640 to 1780.
Do you all think that this amount of FRS payout is enough for retirement at Y2036? Even now at Y2026 also not enough.

2026 Sum Set Aside at 55	Estimated Monthly Payout at Age 65
BRS ($110,200)	$890 – $950
FRS ($220,400)	$1,640 – $1,780
ERS ($440,800)	$3,180 – $3,440

Payout was never supposed to fully fund your retirement. Just be the baseline.

 

[KnyghtRyder]

i wonder if you need to login monthly to withdraw from CPF into your bank???

if it has auto credit into the bank, it will be better

CPF payout is credited to your bank.. otherwise it defeats the purpose of annuity payout if you need to trigger the withdrawal.

 

[eggie011]

The 20% left in RA is transferred to OA.
So my RA is now zero. I will just leave it in OA for now.

 

[wutawa]

The 20% left in RA is transferred to OA.
So my RA is now zero. I will just leave it in OA for now.

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

 

[lampano]

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

my oa is 26000 only also

 

[lampano]

The 20% left in RA is transferred to OA.
So my RA is now zero. I will just leave it in OA for now.

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?

 

[a4973]

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?

Due to RA is illiquid

 

[iMac]

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?

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.

 

[eggie011]

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?

CPF transferred it, not me. Anyway, you can't keep money in RA once CPF life starts. If you try transferring money to RA, it will automatically be used as CPF Life premium.

 

[spyder81]

base on Y2026, FRS is 220,400. At Y2036 which is age 65, CPF life monthly payout is 1640 to 1780.
Do you all think that this amount of FRS payout is enough for retirement at Y2036? Even now at Y2026 also not enough.

2026 Sum Set Aside at 55	Estimated Monthly Payout at Age 65
BRS ($110,200)	$890 – $950
FRS ($220,400)	$1,640 – $1,780
ERS ($440,800)	$3,180 – $3,440

Not enough even when you hit that age it will increase again.

Very or more than enough if retirement is elsewhere. Depressing to see so many here who can't leave have to come out with some many pattern to pinch a few pennies more.

 

[lampano]

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.

CPF transferred it, not me. Anyway, you can't keep money in RA once CPF life starts. If you try transferring money to RA, it will automatically be used as CPF Life premium.

thank you!! understood now

 

[eggie011]

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 is still there, just 0. For those on basic plan, most your money is still in RA, so they can't close it.

Also I can topup my CPF Life premium by transferring money to RA, so it acts as an intermediary.

 

[bruiser69]

RA is still there, just 0. For those on basic plan, most your money is still in RA, so they can't close it.

Also I can topup my CPF Life premium by transferring money to RA, so it acts as an intermediary.

Huat big big!

 

[Andrew833]

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

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

 

[eggie011]

Huat big big!

Where can fight with you? I small time CPF player.

 

[Andrew833]

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.

I don't think RA will be close.