CPF SA

[karakorum1999]

Hi All - I have another query on the above.

In step 4, if I don't have 93K cash, can I transfer 93K from OA to RA without touching SA 238K? Or should I should I transfer 93K from OA to RA in step 2 (i.e. before deshield?).

Thank you.

If you try to transfer the $93k to RA on 15 Aug using CPF, your SA savings will be used first i.e. $93k deducted from $238k. Unless you try to do another SA shield again in Aug, as mentioned in other posts.

It is best if you can transfer the $93k from your OA in July before you unshield.

 

[dgeralds]

If you try to transfer the $93k to RA on 15 Aug using CPF, your SA savings will be used first i.e. $93k deducted from $238k. Unless you try to do another SA shield again in Aug, as mentioned in other posts.

It is best if you can transfer the $93k from your OA in July before you unshield.

Got it. Thank you very much.

 

[dgeralds]

Hi All - I need some urgent guidance:

1. Did a shielding on 1 Jul:
Shielding 238K
OA 270K
SA 40K


2. 10 Jul - 55 years old
- RA will be created by CPF Borad
- RA 186K (FRS) [ i.e. 40K from SA and 146K from OA will be automatically moved to RA]
- OA 124K
- SA 0K

3. 13 Jul
- deshield
- RA 186K
- SA 238K
- OA 124K

4. around 15 Aug
- RA 279 (Put cash 93K into RA to bring it up to ERS)
- SA 238K
- OA 124K

Is step 3 right (i.e. SA is 238K).
Is step 4 allowed (i.e. after a month gap I'm putting cash 93K into RA)? I don't want to transfer 93K from OA which is 124K. For info, I will have the 93K cash only in Aug.

Please advice. Thank you.

Thank you everyone in this forum for helping to navigate the shielding / deshielding process and maximise my savings in SA. I have taken pointers to further maximise my CPF going forward.

I have now completed all my transactions for the time being. Surprisingly during shielding / deshielding process, I made a profit of about $320 !

 

[reddevil0728]

Thank you everyone in this forum for helping to navigate the shielding / deshielding process and maximise my savings in SA. I have taken pointers to further maximise my CPF going forward.

I have now completed all my transactions for the time being. Surprisingly during shielding / deshielding process, I made a profit of about $320 !

Just happen to be the right time

 

[karakorum1999]

Thank you everyone in this forum for helping to navigate the shielding / deshielding process and maximise my savings in SA. I have taken pointers to further maximise my CPF going forward.

I have now completed all my transactions for the time being. Surprisingly during shielding / deshielding process, I made a profit of about $320 !

Thank you sharing your shielding experience. Nothing beats feedback and sharing from a personal real life example.
Although 10 Jul is a Saturday, your post implies that your RA has already been created this morning, and that you have started redeeming your SA investments?
Well done!

 

[dgeralds]

Thank you sharing your shielding experience. Nothing beats feedback and sharing from a personal real life example.
Although 10 Jul is a Saturday, your post implies that your RA has already been created this morning, and that you have started redeeming your SA investments?
Well done!

Yes, my RA was created on 10th July 12.05 am to be exact. I quickly transferred some cash and some OA (total 93K) to RA (ERS). Then I quickly did the deshield.

 

[Ghostrider]

Yes, my RA was created on 10th July 12.05 am to be exact. I quickly transferred some cash and some OA (total 93K) to RA (ERS). Then I quickly did the deshield.

when the RA was created on 10 Jul, the 186K will be in the RA automatically ? u transferred total 93K to reach the ERS amount right?

 

[dgeralds]

when the RA was created on 10 Jul, the 186K will be in the RA automatically ? u transferred total 93K to reach the ERS amount right?

when the RA was created on 10 Jul, the 186K will be in the RA automatically? Yes

u transferred total 93K to reach the ERS amount right? - Yes

 

[Ghostrider]

when the RA was created on 10 Jul, the 186K will be in the RA automatically? Yes

u transferred total 93K to reach the ERS amount right? - Yes

my turn soon.
Understand u did to two dry run on Nikko AM shenton short term fund fd (SGD) using poems. In the 2 try run, did u complete the process by redeeming the fund to time the monies go back to SA?

 

[dgeralds]

my turn soon.
Understand u did to two dry run on Nikko AM shenton short term fund fd (SGD) using poems. In the 2 try run, did u complete the process by redeeming the fund to time the monies go back to SA?

I redeemed both times. It took 2 to 3 working days for the monies to go into SA.

This time it took 4 working days. Note that Im using poems and the settlement is 5 working days.

 

[karakorum1999]

Yes, my RA was created on 10th July 12.05 am to be exact. I quickly transferred some cash and some OA (total 93K) to RA (ERS). Then I quickly did the deshield.

Thanks for the timing info, looks like CPF has fully automated this part!

if you are indeed trying to maximise your RA ( and hence CPF Life payouts), do consider topping up your RA by $9k to $288k (declared ERS for 2022) in Jan 2022.
(a) if you do this for 10 years until age 65, you would increase your LIFE payouts (say Standard) by about 23% from about $2,200 to, $2,700.
(b) if you do the same for 15 years until age 70, the increase is by about 32%, from $2,950 to $3,900.
All payouts are (very) estimated and using rough mid-points of ranges quoted by CPF.
ERS assumed to increase by $9k every year, but a few years from now, it is likely to be more (just as they adjusted the increase from $7.5k to $9k not too long ago).

If you believe in CPF, this strategy of maximising Life payouts and tapping on interests from a “fat” SA account would provide quite a tidy monthly retirement sum (~$4,000+ or $5,500+ depending on when you need to start drawing from this plan). Other than these 2 retirement taps, you could have other taps like property, SRS, investments, cash savings, continuing employment, etc. , esp. useful for the period until age 65/70.

 

[balagan]

Hi, I just read the posts made by dgeralds and response from others....really helpful. I have a couple of queries:

1) May I know how many days does it take for the money from CPF-SA to be transferred out when execute a Buy on POEMS?

2) Let's use reference as 1 July, what will be the date indicating the withdrawal from CPF-SA?

Thank you.

 

[dgeralds]

Hi, I just read the posts made by dgeralds and response from others....really helpful. I have a couple of queries:

1) May I know how many days does it take for the money from CPF-SA to be transferred out when execute a Buy on POEMS?

2) Let's use reference as 1 July, what will be the date indicating the withdrawal from CPF-SA?

Thank you.

1) Im using poems. For me it took 3 working days to transfer out from CPF-SA and 4 working days to transfer to CPF-SA. I understand the settlement date is 5 working days for poems. So better give some allowance.

 

[karakorum1999]

Hi, I just read the posts made by dgeralds and response from others....really helpful. I have a couple of queries:

1) May I know how many days does it take for the money from CPF-SA to be transferred out when execute a Buy on POEMS?

2) Let's use reference as 1 July, what will be the date indicating the withdrawal from CPF-SA?

Thank you.

It is recommended to do this early, as early as the 1st 1-2 working days of the month, since the amount withdrawn would not be earning any SA interest for that month. This important step must be executed before the RA is created, otherwise the chance would be missed.

But for those whose birthday falls on the first few days of the month, then yes, you need to verify all the execution periods needed, and might end up needing to execute the buy the month before (for sure if your birthday is on the 1st).

 

[SBC]

Any managed to get CPF to credit RSS month payment from 2nd or 3rd of the month to later part of the mth say 15th?

 

[reddevil0728]

Any managed to get CPF to credit RSS month payment from 2nd or 3rd of the month to later part of the mth say 15th?

There’s a ticket function when u login. Can try and ask them through that and possibly even give instructions to change if possible.

 

[BBCWatcher]

Why would you want to do that?

 

[dgeralds]

I have query:

I already have RA (ERS), and monies inside SA and OA.

I plan to do some investment using CPF OA monies through Endowus. Is it possible to do without drawing out from SA? I am asking because I understand withdrawal of monies will come out from SA first but now im not withdrawing cash but investing through Endowus.

 

[karakorum1999]

I have query:

I already have RA (ERS), and monies inside SA and OA.

I plan to do some investment using CPF OA monies through Endowus. Is it possible to do without drawing out from SA? I am asking because I understand withdrawal of monies will come out from SA first but now im not withdrawing cash but investing through Endowus.

Yes, for investments, SA and OA are separate, and you decide which one to use.

For OA, you need to open a CPF investment account with an agent bank (one of our local big three) and the account number can be linked to a broker/robo like Endowus and always referring to and tapping on OA funds.

For investing using SA, no need to open any account but investment types more limited e.g certain unit trusts (popular for shielding) using Poems or FSMone - it will be clearly shown for you to choose to use CPF-SA (instead of cash or SRS etc.)

 

[dgeralds]

Yes, for investments, SA and OA are separate, and you decide which one to use.

For OA, you need to open a CPF investment account with an agent bank (one of our local big three) and the account number can be linked to a broker/robo like Endowus and always referring to and tapping on OA funds.

For investing using SA, no need to open any account but investment types more limited e.g certain unit trusts (popular for shielding) using Poems or FSMone - it will be clearly shown for you to choose to use CPF-SA (instead of cash or SRS etc.)

Thank you!