CPF SA

[popdod]

CPF law keep changing every now & then....

 

[saltyman]

sa max interest still stay in sa. The earlier you max the better, the interest take care of the minimum sum increase yearly

edmw all hidden dragon crouching tiger

 

[SBC]

Many ppl will be retrenched. Dunno cpf still can go up because cpf will be no increment for awhile liao.

Good to build a strong buffer via CPF.

 

[jnashville]

Changing rules is not about interest alone. I rather low interest but is my money than give u high rates but untouchable.

Now corona comes. Those no jobs cpf can save them of not? Bank account can save u any day. If u cannot survive now then no need to wait until 55

Entirely defeating the point of what cpf is.

Cpf sa is for retirement planning, u talking about immediate emergency savings. Different topic la.

Like if u buy hospitalization insurance plan. If u never get warded, u cant claim your bills. Outpatient cost still need to pay. Different plans are intended for diff purposes.

 

[jnashville]

I have too much cash lying around in high yield accounts but since interest rates drop, I also intend to transfer some money to SA account for retirement.

Then I realise theres a cap of only 7k per year if I want to top up SA account with cash?

 

[fandango]

I have too much cash lying around in high yield accounts but since interest rates drop, I also intend to transfer some money to SA account for retirement.

Then I realise theres a cap of only 7k per year if I want to top up SA account with cash?

Transfer from OA to SA

 

[jericho75]

Entirely defeating the point of what cpf is.

Cpf sa is for retirement planning, u talking about immediate emergency savings. Different topic la.

Like if u buy hospitalization insurance plan. If u never get warded, u cant claim your bills. Outpatient cost still need to pay. Different plans are intended for diff purposes.

got ppl use cash dump inside cpf. now if they need cash during this corona. can tell cpf these money i dumped in via cash can take out tahan first?

so for cpf forced savings cannot avoid then boh bian. if dump in hard cash is a big no.

 

[jnashville]

Transfer from OA to SA

my OA is use for housing. so wanna put in cash. i got too much cash that is lying around..but do not know about investments like stocks etc as that comes with risk.

so SA is the best since i dont need the money. able to top up using cash right? what is the max amount

 

[bladez87]

my OA is use for housing. so wanna put in cash. i got too much cash that is lying around..but do not know about investments like stocks etc as that comes with risk.

so SA is the best since i dont need the money. able to top up using cash right? what is the max amount

Can put in more than 7k into sa. Just no tax relief

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[SmartMoney]

2 room cannot rent out 1 room

2 room can rent whole unit

 

[Gitaro]

I have too much cash lying around in high yield accounts but since interest rates drop, I also intend to transfer some money to SA account for retirement.

Then I realise theres a cap of only 7k per year if I want to top up SA account with cash?

PLease do s if you can afford. I had done so prior to me reaching 55 and for my home-maker wife too. and continue to do so after 55 (because after 55, I can withdraw anytime, so to me CPF is like my bank now with at least 2.5% per annum). Aiming o collect $20k interest from CPF per year as passive income. Now only about 12k plus.

 

[Gitaro]

got ppl use cash dump inside cpf. now if they need cash during this corona. can tell cpf these money i dumped in via cash can take out tahan first?

so for cpf forced savings cannot avoid then boh bian. if dump in hard cash is a big no.

Yes, if one is cash strapped with little cash saving, then stick to mandatory CPF amount.
For those who had a little bit more cash, then it is a different consideration. CPF will then be one of the viable vehicle.

 

[jnashville]

Can put in more than 7k into sa. Just no tax relief

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What's the max amount?

 

[audiovideo]

If one greedy the interest from sa and wana dump money insai, note that you are warned over and again the money cannot be taken out till 55. If you want greedy and no plan for future money usage, who to blame?

 

[Polar Bear King]

What's the max amount?

Should be no max
Can fill up kids SA at birth also just pump all the money into it

 

[aarontansp]

theres edwmers who condemn cpf as a retirement option.

 

[maleman]

52 years.... starting pay at 20 years old was $650

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[ramlee]

What's the max amount?

until FRS for current year cohort

 

[aarontansp]

showing cpf$ with no asset or asset not fully paid is no use.

 

[ramlee]

52 years.... starting pay at 20 years old was $650

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