CPF SA Shielding hack - RIP (Obsolete)

[QinWei]

is this turning into a comprehension class now?

 

[sohguanh]

I think some readers is trying to earn 4% RA interest from age 55 to 65 and able to withdraw afterwards before cpf life starts. This assume RA already have FRS it is never touched. The on top monies 4% want to earn and take out before cpf life starts. It seems interest earned cannot take out am I correct?

 

[fr33d0m]

This is referring to OA/SA, not RA.

Of course this was before Budget 2024. Now, it will only be OA.

please cite where CPF mentions it only applies to OA/SA? RA is CPF accounts, too

 

[Guojing88]

yes OA

For RA if u wish :
can also apply to withdraw your Retirement Account savings down to your Basic Retirement Sum (BRS) if you own a property in Singapore with remaining lease that lasts you until you are 95 or older. You have the flexibility to set aside your FRS with a mixture of property (up to half your FRS, which is the BRS) and cash.

Does this also apply to withdrawing RA from ERS to FRS, between 55-65?

 

[Guojing88]

please cite where CPF mentions it only applies to OA/SA? RA is CPF accounts, too

As I said, I never heard of anyone withdrawing from RA, between 55-65.

If you manage to find someone who actually did that, then I will say you are correct.

 

[fr33d0m]

As I said, I never heard of anyone withdrawing from RA, between 55-65.

If you manage to find someone who actually did that, then I will say you are correct.

too bad that I am too young to be able to withdraw. it's better if you have a counter-example that someone fails to withdraw.

But the rules on CPF website are very clear. I can withdraw anytime from my CPF Savings, no mention of any particular accounts.

 

[QinWei]

Does this also apply to withdrawing RA from ERS to FRS, between 55-65?

i m not sure but the website states: pls click on all those links....attached prev

U can withdraw part of your Retirement Account (RA) savings (excluding interest earned, any government grants received and top-ups to your retirement savings) down to your Basic Retirement Sum if:

1. You are 55 and above;
2. You own a property* with remaining lease that can last you to at least 95; and
3. The expected CPF housing refund (if you have used CPF for property or if you pledge your property) is able to restore the withdrawn amount or your RA to your FRS when you sell/transfer the property in the future.

i get so mixedup after all the comprehension debate begins
note: the amount of RA savings you can withdraw excludes interest earned, any government grants received and top-ups to your retirement savings. It also depends on your RA balance at the point of withdrawal. For example, if you are on CPF LIFE and have started your monthly payouts, any new inflows received in your RA will be used to increase your CPF LIFE premium to provide you with higher monthly payouts, and you will not be allowed to withdraw them in a lump sum.

Find out how withdrawing with your property works if:

• you have used CPF savings for your property - it dpends on whether the refunds will restore ur fRS#
• you did not use CPF savings for your property

assuming most of us have used CPF for property:

#

If your expected housing refund is enough to restore your Full Retirement Sum (FRS)

You can set aside your FRS with a mixture of property (up to half the FRS) and cash, and withdraw your Retirement Account (RA) savings down to your Basic Retirement Sum (BRS*) without pledging your property.

If your expected housing refund is not enough to restore your Full Retirement Sum


https://www.cpf.gov.sg/member/faq/r...of-ra-savings-using-property-sell-or-transfer
*If you are on CPF LIFE and have started your monthly payouts, the refunds to your RA will be used to increase your CPF LIFE premium.

 

[Guojing88]

too bad that I am too young to be able to withdraw. it's better if you have a counter-example that someone fails to withdraw.

But the rules on CPF website are very clear. I can withdraw anytime from my CPF Savings, no mention of any particular accounts.

To me, its also very clear.

At age 55, you make a decision how much to set aside on your RA: BRS, FRS or ERS.

At age 65, you make a decision on how to draw out the RA: Basic, Standard or Escalating.

 

[fr33d0m]

maybe someone reached 55 can share his retirement dashboard. There were so many in this threads asking for shielding. They are certainly over 55.

 

[QinWei]

am too young

envied!

 

[Guojing88]

i m not sure but the website states: pls click on all those links....attached prev

U can withdraw part of your Retirement Account (RA) savings (excluding interest earned, any government grants received and top-ups to your retirement savings) down to your Basic Retirement Sum if:

1. You are 55 and above;
2. You own a property* with remaining lease that can last you to at least 95; and
3. The expected CPF housing refund (if you have used CPF for property or if you pledge your property) is able to restore the withdrawn amount or your RA to your FRS when you sell/transfer the property in the future.

i get so mixedup after all the comprehension debate begins
note: the amount of RA savings you can withdraw excludes interest earned, any government grants received and top-ups to your retirement savings. It also depends on your RA balance at the point of withdrawal. For example, if you are on CPF LIFE and have started your monthly payouts, any new inflows received in your RA will be used to increase your CPF LIFE premium to provide you with higher monthly payouts, and you will not be allowed to withdraw them in a lump sum.

Find out how withdrawing with your property works if:

• you have used CPF savings for your property - it dpends on whether the refunds will restore ur fRS#
• you did not use CPF savings for your property

assuming most of us have used CPF for property:

#

If your expected housing refund is enough to restore your Full Retirement Sum (FRS)

You can set aside your FRS with a mixture of property (up to half the FRS) and cash, and withdraw your Retirement Account (RA) savings down to your Basic Retirement Sum (BRS*) without pledging your property.

If your expected housing refund is not enough to restore your Full Retirement Sum


https://www.cpf.gov.sg/member/faq/r...of-ra-savings-using-property-sell-or-transfer
*If you are on CPF LIFE and have started your monthly payouts, the refunds to your RA will be used to increase your CPF LIFE premium.

The way I see it, this only applies from FRS to BRS, because it will involve property.

 

[QinWei]

There were so many in this threads asking for shielding. They are certainly over 55.

all those who been dreaming of the shield must be currently crying alone now (maybe crying with spouse)





yes in a way, only when property involved

The way I see it, this only applies to FRS to BRS, because it will involve property.

 

[DevilPlate]

https://www.cpf.gov.sg/member/infohub/educational-resources/can-you-withdraw-your-cpf-at-55

Slowly read bah….did mentioned can still withdraw from RA after 55 (subject to conditions)

 

[fr33d0m]

all those who been dreaming of the shield must be currently crying alone now (maybe crying with spouse)





yes in a way, only when property involved

not necessarily true.

at 55, CPF forms RA with FRS.

at 56, top up 10K to CPF RA

based on existing rules, you can still withdraw 10K assuming you have 10K in CPF RA not part of the undrawable(interest, government grants, top-ups). I don't see any rules preventing this.

 

[Guojing88]

too bad that I am too young to be able to withdraw. it's better if you have a counter-example that someone fails to withdraw.

But the rules on CPF website are very clear. I can withdraw anytime from my CPF Savings, no mention of any particular accounts.

You can use common sense here.

If you are correct, that one can suka suka withdraw from RA anytime he wants from 55-65, then there is no need to shield SA at all.

 

[fr33d0m]

You can use common sense here.

If you are correct, that one can suka suka withdraw from RA anytime he wants from 55-65, then there is no need to shield SA at all.

withdraw from CPF RA is very restrictive compared to SA. interest, government grants and top-ups can't be withdrawn. not mentioning that all CPF RA will be used for CPF LIFE after 70.

At most, one can withdraw FRS from CPF RA by substituting the original RA with top-ups.

The government is not punishing people for topping up CPF RA. It is unreasonable to prevent one from withdrawing excess...

 

[polyglob]

When can I withdraw my CPF savings?
You can apply to withdraw a portion of your CPF savings anytime from 55 whenever you have immediate needs for cash. There is no limit to the number of withdrawals you can make. Find out how much you can withdraw.

These withdrawals are to be made from SA and OA, not applicable to RA.

I'm past 55, RA at FRS. I've done one test-the-process withdrawal of a small sum. Mandatory sequence of withdrawal is to start from SA until SA is empty, then start withdrawing OA. RA not in the picture for such withdrawals

 

[Guojing88]

These withdrawals are to be made from SA and OA, not applicable to RA.

I'm past 55, RA at FRS. I've done one test-the-process withdrawal of a small sum. Mandatory sequence of withdrawal is to start from SA until SA is empty, then start withdrawing OA. RA not in the picture for such withdrawals

Nice, yeah, I thought it was common sense, when I first read that CPF paragraph, that those withdrawals are not from RA.

Didn't expect there will be readers who actually think otherwise.

 

[fr33d0m]

These withdrawals are to be made from SA and OA, not applicable to RA.

I'm past 55, RA at FRS. I've done one test-the-process withdrawal of a small sum. Mandatory sequence of withdrawal is to start from SA until SA is empty, then start withdrawing OA. RA not in the picture for such withdrawals

if you don't pledge your property or you don't have extra in RA beyond FRS(in original amount, excluding interest, government grants, top-ups), you can't withdraw.

maybe you can help to test after you top up CPF RA, can you withdraw from CPF RA?

 

[polyglob]

if you don't pledge your property or you don't have extra in RA beyond FRS(in original amount, excluding interest, government grants, top-ups), you can't withdraw.

If not enough to reach FRS at 55, one is still able to withdraw $5k. (Provided got at least 5k to withdraw. Don't think gahmen will hand out 5k free money.)

Pledging of property for withdrawal of excess above BRS is an extra opt-in step that I must initiate after RA is formed. I am not familiar with the details since I have no plan to do so.

maybe you can help to test after you top up CPF RA, can you withdraw from CPF RA?

Not anytime soon. I'll take the next few months to decide whether I want to pump money currently in SA into RA when SA is closed in 2025