CPF SA Shielding hack - RIP (Obsolete)

[DevilPlate]

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...

Aiya, those anti-CPF not affected lah….They will withdraw everything allowable upon 55 anyway. Hahahaha

 

[chopra]

can txf to younger spouse??????


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[lzydata]

The thread title changed

 

[chopra]

cant we txf sa to spouse at 54.9??


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[Okenba]

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

Good question. Don't think they specifically mentioned.

 

[sohguanh]

How about SA investment? Need to sell all since SA will disappear?

 

[chopra]

would we also txf oa to sa at 54yo to earn more interest assuming we hit sa “limit”


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[daranic]

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

Yes, try to appease all by raising ERS. But in actual fact we don’t gain. Cos higher ERS means more money in CPF LIFE. U get higher income yes, but good only if you live long enough to total income received is more than what is moved to RA. For someone suay suay die early, the remaining amount in CPF LIFE to beneficiaries is only the remaining principal without any interest. So tell me, who benefit?

 

[daranic]

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

Should be same portion like now, just that instead of SA it will go to RA if not reached FRS. Otherwise it is to OA.

 

[sohguanh]

Yes, try to appease all by raising ERS. But in actual fact we don’t gain. Cos higher ERS means more money in CPF LIFE. U get higher income yes, but good only if you live long enough to total income received is more than what is moved to RA. For someone suay suay die early, the remaining amount in CPF LIFE to beneficiaries is only the remaining principal without any interest. So tell me, who benefit?

Even before this SA removal cpf life scheme only benefit long lifespan ppl I have posted this many times. They never cater for short lifespan ppl they want the scheme to let short life ppl help long life ppl of same batch.

 

[daranic]

Even before this SA removal cpf life scheme only benefit long lifespan ppl I have posted this many times. They never cater for short lifespan ppl they want the scheme to let short life ppl help long life ppl of same batch.

Yes. Now they up e ERS means more ppl will pump more money to RA to earn higher interest before money is moved to CPF LIFE since no more SA. So they will have much more money in the pool now.

 

[JustDoLor]

If meet BRS and pledge property. SA money go where?

 

[~sabaisabai~]

If you have no OA, then of course there is nothing to shield

can shield sa boh

 

[888888888888]

Even before this SA removal cpf life scheme only benefit long lifespan ppl I have posted this many times. They never cater for short lifespan ppl they want the scheme to let short life ppl help long life ppl of same batch.

Then live long; never in the other direction.

 

[reddevil0728]

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

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

Actually is quite naive to think that she’s the actual cause leh

 

[yuppieboy]

Assuming if one has already hit FRS in RA, comes 2025, the full amount in SA will be transferred to OA earning 2.5%pa. Otherwise, one can also choose to do one way withdrawal from OA anytime to use or invest.

 

[reddevil0728]

Then live long; never in the other direction.

This poster always talk about short life one. No choice

 

[sohguanh]

Then live long; never in the other direction.

Doctor always check patient family history why? Why family of patient is needed? Think deeper.

 

[DevilPlate]

Yes, try to appease all by raising ERS. But in actual fact we don’t gain. Cos higher ERS means more money in CPF LIFE. U get higher income yes, but good only if you live long enough to total income received is more than what is moved to RA. For someone suay suay die early, the remaining amount in CPF LIFE to beneficiaries is only the remaining principal without any interest. So tell me, who benefit?

This is exactly like buying insurance isn’t it?

Buy term insurance ….all the premiums wasted if heng heng nth happens lol.

 

[DevilPlate]

If meet BRS and pledge property. SA money go where?

any excess goes back to OA lor.