CPF SA

[Iyarash11]

i am ready to top up 200k to my SA so that after 65 I can receive FRS for my retirement.

But if I top up 400k instead of 200k, I will not be able to withdraw the extra 200k on my 55th birthday?

 

[ramlee]

discuss real money in edmw will have lots of "noise" one... wont be able to figure out what's rubbish, what's gem....

better go money mind

no, we are all honest and true. do not discriminate us prease

 

[ramlee]

Cpf OA very fast earn back.
Just whack to max FRS lah.

not if you ish jodless

 

[d3n]

Provided u got a job and never get retrenched

If u are 40 and above. I advise to keep some money in OA (at least enough to cover 2-3 years hdb installment)

Else transfer all to SA... during this covid, get retrenched hong gan.

Cpf OA very fast earn back.
Just whack to max FRS lah.

www.dennislee.co HardwareZone Forums app

 

[lordofthering]

i am ready to top up 200k to my SA so that after 65 I can receive FRS for my retirement.

But if I top up 400k instead of 200k, I will not be able to withdraw the extra 200k on my 55th birthday?

up my qn

 

[The_Davis]

Hasn't decide, nowadays 4rm resales smelly also cost ard 500k+, also looking at 2/3rm resales EC / condo but dunno can afford or not.

Condo got 500-600k range. But only 300-400 sqft.

 

[Jordan]

up my qn

It is not a case where by you suka suka want to top up, then can top up. Even before 55, got limit to top up. Once limit hit, cannot top up anymore. After 55, you throw money into SA, it is as good as cannot see money liao, if you have not fulfilled FRS. Once SA become RA when you turn 55, it will form part of CPF life. So you throw in also no use. They not so stupid to let you earn extra interest for nothing. Unless you know a trick called SA shielding, then it is a different story. But you need to do this before you turn 55.

Posted from PCWX using ONEPLUS A6000

 

[orwell76]

Provided u got a job and never get retrenched

If u are 40 and above. I advise to keep some money in OA (at least enough to cover 2-3 years hdb installment)

Else transfer all to SA... during this covid, get retrenched hong gan.

www.dennislee.co HardwareZone Forums app

Not 30 year old pay off HDB meh

 

[The_Davis]

i am ready to top up 200k to my SA so that after 65 I can receive FRS for my retirement.

But if I top up 400k instead of 200k, I will not be able to withdraw the extra 200k on my 55th birthday?

Not sure if got any gurus here

 

[Shutterbox]

It is not a case where by you suka suka want to top up, then can top up. Even before 55, got limit to top up. Once limit hit, cannot top up anymore. After 55, you throw money into SA, it is as good as cannot see money liao, if you have not fulfilled FRS. Once SA become RA when you turn 55, it will form part of CPF life. So you throw in also no use. They not so stupid to let you earn extra interest for nothing. Unless you know a trick called SA shielding, then it is a different story. But you need to do this before you turn 55.

Posted from PCWX using ONEPLUS A6000

If shield the SA money before 55th bday le, What happens when there is insufficient remaining OA+SA sums to meet RA?

 

[jericho75]

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.

No leh. I got more cash than cpf but I also won't dump hard cash into cpf. If forced savings then got no choices.

 

[ramlee]

up my qn

Can withdraw the excess over the FRS set for your cohort

 

[yoongf]

Can consider top up spouse CPF SA acct. Got tax relief 7k per annum.

i am ready to top up 200k to my SA so that after 65 I can receive FRS for my retirement.

But if I top up 400k instead of 200k, I will not be able to withdraw the extra 200k on my 55th birthday?

 

[SkyNinja]

Condo got 500-600k range. But only 300-400 sqft.

300 sqft. The bedroom can put queen size bed Frame?

 

[lazysundae]

everyone shld max out SA as soon as possible

Sent from YNWA at Anfield using GAGT

 

[crimsontactics]

Not sure if got any gurus here

That is not true.

Your top up money can't be withdrawn only if you opt for BRS.

And even so, you can still withdraw $5k.

Sent from . using GAGT

 

[mp4005 help]

https://community.whatcard.sg/t/pro...ur-savings-in-your-cpf-special-account-sa/844


Something to read ..

 

[item2sell]

That is not true.

Your top up money can't be withdrawn only if you opt for BRS.

And even so, you can still withdraw $5k.

Sent from . using GAGT

I am not sure if this is true. Do you have any link that show it?

 

[Zze121]

Why wanna top up S acc?

 

[KnyghtRyder]

Dear all,

Please advise me on the following.

OA: $62,996
SA: $166,311
MA: $60,000

Property
Net Amount Used (OA): $159,703
Accrued Interest: $25,639

Investment
Net Amount Used
OA: $66,929
SA: $30,000

Given that as at 1 Jan 2020:
Basic Retirement Sum (BRS) 90,500
Full Retirement Sum (2 x BRS) 181,000
Enhanced Retirement Sum (3 x BRS) 271,500

I am 53 this year. Should I top up OA or can I still top up SA? How much can I top up? At the bare minimum, I should top up OA by the net amt used + accrued interest for property so that I can enjoy the 2.5% interest, am I right?

Can I pledge my property for the ERS? What's the implication when I sell my property beyond 60 years of my age? The proceeds will go to my retirement account because of the former?
WHat elese can I do?

As far as I'm aware you cannot do further top up already.. you already hit the FRS.

For refunding of cpf used for property this one you can do.. just apply online.

You cannot pledge property for ERS