Cpf OA move to SA

[AnTiLooP]

Guys
Baring I've no more loans (well debt free), paid off all my housing installments is it wise to move my oa monies to sa for the interest ?

 

[Jumpman23]

Yup max out your SA as soon as you can. I did it last year and left about 25k+ in my OA to continue servicing my housing loan. But also think about your future plans to get another property, as you might need the OA later.

 

[teerance85]

Good to max SA asap. If your MA reaches the ceiling too, MA overflow will also aid in building up your SA.

That said, if I have spare cash and both my SA and MA hasn't reach the ceiling yet, which is better? Max out SA or MA first?

 

[OngHuatHuat]

Ma cannot take out
Sa can take out

Good to max SA asap. If your MA reaches the ceiling too, MA overflow will also aid in building up your SA.

That said, if I have spare cash and both my SA and MA hasn't reach the ceiling yet, which is better? Max out SA or MA first?

 

[AnTiLooP]

Thanks all. Currently have no intentions to get another property and doubt I'll ever have that ability so trying to build up cpf as much as possible within its own pool of monies (ex other investments)

 

[toiregi]

What if the SA interest is revised down and the min sum increased substantially ?

OA can still be used for house, blue chip shares. SA cannot.

 

[Jumpman23]

Good to max SA asap. If your MA reaches the ceiling too, MA overflow will also aid in building up your SA.

That said, if I have spare cash and both my SA and MA hasn't reach the ceiling yet, which is better? Max out SA or MA first?

I would max out MA first - to get the subsequent 'overflow' effect and tax relief. Then transfer OA to SA till RA less $7k, and top up the $7k with cash to get tax relief.

 

[hwmook]

Thanks all. Currently have no intentions to get another property and doubt I'll ever have that ability so trying to build up cpf as much as possible within its own pool of monies (ex other investments)

If that is so then no harm transferring from OA to SA. OA is only useful for housing and investment.

 

[RM2SSG]

What if the SA interest is revised down and the min sum increased substantially ?

OA can still be used for house, blue chip shares. SA cannot.

I think it is a risk one has to assess.

Minimum sum increased has been announced and it will be in the 3-4% range based on inflation.

For me SA is a long term savings mechanism, I have long max out my SA to earn extra interests and once you max it out, you will likely to meet the increase in the minimum sum because of the interest earned.

 

[peacefulday]

I already max my SA and doing my QA to my spouse SA.

If you have no more commitment -> just max SA will never go wrong

 

[Squaredot]

I already max my SA and doing my QA to my spouse SA.

If you have no more commitment -> just max SA will never go wrong

What is QA?

 

[peacefulday]

What is QA?

hehe my bad should be OA, u r the second guy in this forum spotting my same mistake previously

 

[Squaredot]

hehe my bad should be OA, u r the second guy in this forum spotting my same mistake previously

I thought it was something new!
Cheers

 

[Opps-gal]

Can OA amount in cpf move to MA? MA interest same as SA interest?

 

[ocs_woodlands]

Guys
Baring I've no more loans (well debt free), paid off all my housing installments is it wise to move my oa monies to sa for the interest ?

I maxed out the transfers for both me and my wife about 10 years ago... One of my 'best' investment decisions as I was earning 4% and paying 2.6% to HDB. But my loans were settled before 2010 & the OA was built up very quickly once again. But too bad no way to transfer already.

Now both SAs > 200k easily so the minimum sum doesn't worry me. Infact I am quite sure soon it will overtake the enhanced limit too..

 

[limster]

I generally treat SA as untouchable but near the bottom of last GFC, I used about $20k of SA to buy unit trust - First State Bridge, the moment it recovered by 15%, quickly sold it to lock in some profit....

The market at the moment not low enough for me to consider using SA, also still have OA reserves. Last GFC, hit the CPF stock limit and remisier had to call me to settle partially in cash

 

[havetheveryfun]

I maxed out the transfers for both me and my wife about 10 years ago... One of my 'best' investment decisions as I was earning 4% and paying 2.6% to HDB. But my loans were settled before 2010 & the OA was built up very quickly once again. But too bad no way to transfer already.

Now both SAs > 200k easily so the minimum sum doesn't worry me. Infact I am quite sure soon it will overtake the enhanced limit too..

Wow u must be a high earner

 

[ocs_woodlands]

Wow u must be a high earner

Frankly, that's not the point.

The thing is, we have to try to 'beat' the system within its own constraints. While I am still alive and living in Singapore, this is the only way i (and many others too) have found to beat the system..

"borrow money from OA to deposit into SA". Step as follows:
1) Park OA somewhere else.
2) Take big loan for HDB
3) Move the funds back to OA
4) Transfer from OA to SA
Gain from the differential 1.4% ie 4%-2.6%

 

[fitlies]

Frankly, that's not the point.

The thing is, we have to try to 'beat' the system within its own constraints. While I am still alive and living in Singapore, this is the only way i (and many others too) have found to beat the system..

"borrow money from OA to deposit into SA". Step as follows:
1) Park OA somewhere else.
2) Take big loan for HDB
3) Move the funds back to OA
4) Transfer from OA to SA
Gain from the differential 1.4% ie 4%-2.6%

I don't quite get how you are able to park OA "somewhere else" and then "move the funds back to OA" here. Are you able to share a little bit more clarity on this ocs_woodlands?

 

[dork32]

Frankly, that's not the point.

The thing is, we have to try to 'beat' the system within its own constraints. While I am still alive and living in Singapore, this is the only way i (and many others too) have found to beat the system..

"borrow money from OA to deposit into SA". Step as follows:
1) Park OA somewhere else.
2) Take big loan for HDB
3) Move the funds back to OA
4) Transfer from OA to SA
Gain from the differential 1.4% ie 4%-2.6%

why so troublesome? move step 4 to 1 and solve all problem