CPF SA Shielding hack - RIP (Obsolete)

[dantom04]

Think for all..... No more 4% liquid Liao... They want u to pump into RA or they auto transfer $ in SA more than FRS to OA....

 

[starlight318]

So new policy will affect all those age 55 and above in 2025 ?? or only those that will reached age 55 at 2025

Everyone above 55

 

[highsulphur]

So new policy will affect all those age 55 and above in 2025 ?? or only those that will reached age 55 at 2025

sounds like there won't be anymore SA for everyone above 55 years old from 2025.

 

[yuppieboy]

Seems like it. My understanding so far.

ERS changed from 3x BRS to 4x.
SA account now limited as any excess above FRS/ERS at 55 years old will be transferred to OA.
4% in SA after 55 years old gone now...

Haha, really give you chicken wings and take back whole chicken from you.

 

[lzydata]

Thanks to everyone for their hard work in developing the SA shield, now no longer needed.

 

[hound297]

So new policy will affect all those age 55 and above in 2025 ?? or only those that will reached age 55 at 2025

From 2025 onwards all age 55 and above affected. This year still no effect.

 

[hound297]

Think for all..... No more 4% liquid Liao... They want u to pump into RA or they auto transfer $ in SA more than FRS to OA....

This is the way. Bank only give 3%++ on fixed deposit leh.

If you hit CPF FRS and has huge sum remaining in SA, then its nothing more than a RISK FREE 4% compunding interest investment with 0 lock in period. These people are nothing more than a burden to the government investment branch. Not only are they no actively contributing to the investment money as they have retired, they are leeching away resources by having a large sum in SA instead of OA.

 

[twosix]

LW claims this is to help in retirement. How does this helps when it is reducing the interests when transferred to OA?

 

[highsulphur]

LW claims this is to help in retirement. How does this helps when it is reducing the interests when transferred to OA?

well to be fair, those are benefiting from this don't really need that much help compared to those who are not able to benefit from this (ie with not much balance in SA)

time to seek higher yield elsewhere

 

[Knightoftheblackrose]

LW claims this is to help in retirement. How does this helps when it is reducing the interests when transferred to OA?

This is the same fella who claimed that increasing GST helps the poor.

 

[luvpraline]

LW claims this is to help in retirement. How does this helps when it is reducing the interests when transferred to OA?

So "forcing" ppl to transfer it all to RA?

Also, wouldn't it encourage more people to spend more on housing instead of their retirement needs? i.e. encourage the mentality of some who don't trust CPF...

 

[starlight318]

LW claims this is to help in retirement. How does this helps when it is reducing the interests when transferred to OA?

This will force ppl to move funds into RA, more will go for ERS instead of just FRS since cannot keep the excess in SA anymore. V sneaky.
This is worse than just closing the SA shield loophole, jitao kill off SA altogether

 

[highsulphur]

This will force ppl to move funds into RA, more will go for ERS instead of just FRS since cannot keep the excess in SA anymore. V sneaky.
This is worse than just closing the SA shield loophole, jitao kill off SA altogether

didn't see that coming to be honest

 

[twosix]

This will force ppl to move funds into RA, more will go for ERS instead of just FRS since cannot keep the excess in SA anymore. V sneaky.
This is worse than just closing the SA shield loophole, jitao kill off SA altogether

Means more money locked in for the govt to utilize.

 

[royalmix]

No need to hack to withdraw OA first and avoid SA in future!

 

[Gambler.]

This means if you continue to withdraw your SA to invest before 55th bday and then after your 55th bday
The money invested if redeemed goes to RA?

 

[royalmix]

This means if you continue to withdraw your SA to invest before 55th bday and then after your 55th bday
The money invested if redeemed goes to RA?

From next year, it will go to RA if FRS not met, otherwise goes to OA as SA no longer exist after 55. Then if you want ERS, you have to transfer it from OA to RA.

 

[DevilPlate]

LW claims this is to help in retirement. How does this helps when it is reducing the interests when transferred to OA?

ERS x4 of BRS now what whaha.

I am quite OK w it….waiting to top up to new max limit

Dont have to consider cui pte annuity

 

[JustDoLor]

All thanks to Lorna Tan’s 2019 Straits Times’ article !

https://www.linkedin.com/posts/lorn...-moneysmart-activity-6607265254621704192-ekMy

 

[weng0202]

So if still working after 55, all cpf goes to MA and OA since no more SA?