CPF OA account after 55

[homedriver]

After transfer amount to RA, can we withdraw amount from OA anytime and no limit after 55?

And also what’s the formulae to calculate how much the beneficiaries can get back the remainder ?

 

[Mergui219067]

PayNow .
Use it as a saving account that gives 2.5%.

 

[homedriver]

PayNow .
Use it as a saving account that gives 2.5%.

Thank. Mean can withdraw anytime and no cap.
How about the money pass to beneficiaries?

 

[SBC]

Is TS qns true only if FRS is hit?

 

[crimsontactics]

Thank. Mean can withdraw anytime and no cap.
How about the money pass to beneficiaries?

Yes. Anytime.

The only limit is the amount of money in your OA.

Sent from . using GAGT

 

[BBCWatcher]

However, withdrawals will come from your (higher yielding) Special Account first. Then, once the last dollar is drained from your residual SA funds, withdrawals will come from your OA.

See the discussions about "Special Account shielding" if you'd like to learn about a technique to keep some funds in your Special Account when you're making a big, one-time withdrawal of other funds -- and/or just before your Retirement Account is formed, on your 55th birthday.

 

[culture_counter]

If you meet the FRS at 55, but your MA (Medisave Account) does not meet the higher limit, would you still be eligible to take out any excess money from the OA, without first having to top up to the MA ceiling first?​

 

[BBCWatcher]

If you meet the FRS at 55, but your MA (Medisave Account) does not meet the higher limit, would you still be eligible to take out any excess money from the OA, without first having to top up to the MA ceiling first?

You are eligible to make a withdrawal at age 55 or later first from your Special Account (if any funds remain there) then, once your SA is fully drained, from your Ordinary Account, strictly in that order. You're able to much such a withdrawal no matter what your Medisave balance is.

 

[Anarchy]

BBCwatcher, can’t find the topic on Special Account shielding" ? The only way I can’t think of is to invest Special Account, withdraw from Ordinary Account and sell off Special Account’s investment.

Anything more interesting than that?

 

[Mergui219067]

Exceeded my MA,SA, FRS & still working.
So it is just RA ; a saving account with ATM service with PayNow.

What else can I ask for in such a good saving account ?

 

[eric3743]

After transfer amount to RA, can we withdraw amount from OA anytime and no limit after 55?

And also what’s the formulae to calculate how much the beneficiaries can get back the remainder ?

Yes you can withdraw any amount in your OA anytime via CPF homepage with Singpass.

I did withdraw until my OA is zero amount.


In other to understand better on everything about your CPF account do consult CPF Officer as each individual may differ from others.
Either via appointment or walk-in.

 

[5star_pundit]

hosay liao next year i 55 can withdraw $100,000 cash out from retirement account

 

[crimsontactics]

hosay liao next year i 55 can withdraw $100,000 cash out from retirement account

JSKM Bro 5 Star!

Bringing your partner to holiday?

Sent from . using GAGT

 

[dork32]

hosay liao next year i 55 can withdraw $100,000 cash out from retirement account

even if i can, i will probably not.

i will only withdraw if i need 100k for car or downpayment for condo.

otherwise i will just leave it there to roll. if i need cash, then i will go down to cpf to withdraw a few hundred or use paynow.

 

[maple96]

hosay liao next year i 55 can withdraw $100,000 cash out from retirement account

u must be joking, RA cannot touch lah! u want withdraw 100k, u have to empty your SA first then take from OA

 

[The_Davis]

even if i can, i will probably not.

i will only withdraw if i need 100k for car or downpayment for condo.

otherwise i will just leave it there to roll. if i need cash, then i will go down to cpf to withdraw a few hundred or use paynow.

congrats! still working?

 

[dork32]

congrats! still working?

yeap. more than 15 years of working life left.

cpf is a very good high interest savings account. you should not be withdrawing from it when you reach 55. deplete your dbs savings account before using the cpf.

 

[maple96]

yeap. more than 15 years of working life left.

cpf is a very good high interest savings account. you should not be withdrawing from it when you reach 55. deplete your dbs savings account before using the cpf.

agree, going to load more into RA after I start payout

load more into oa/sa/ma if u can, it is better than any endowment plan or retirement plan to me :s13;

 

[dork32]

load more into oa/sa/ma if u can, it is better than any endowment plan or retirement plan to me :s13;

you are right. most of us would have withdrawn quite a lot from our oa to buy our home.

when i am closer to 55, I start to pay cpf back this sum + the interest that i withdrew. then my oa will really be puffed up

 

[Mergui219067]

Like those who CPF-is-my-$ / kiasi that PAP would raise the limit and hold it much longer & higher sum ?

I did withdraw until my OA is zero amount.