CPF SA

[Andrew833]

Nowadays businesses are more volatile than ever! Just look at wirecard. One day 2 billion reported disappear. Next day bankrupt
Risk is very real. At times really not worth to take such risk

Single stock always more risky.
ETF and MT/UT are diversify, so lower risk, lower gain.

 

[Andrew833]

What i mean is 55 onwards and near retirement or already retired, you certainly want to move towards a more stable portfolio.

Yes, you are correct.
That's why I plan to keep some money in SA after 55. This money is for retirement use.

 

[Kaypohji]

MA I feel still very limited usage... when u r old and retired, ur medical bill not all can use ma to pay... there’s a cap and limit.
I find this limit nonsensical. Imagine u r 65 or 70. See a doctor why cannot use Ma to pay fully? U keep saving the money in ma for next time usage but that is provided u r in good health now or that u r cash rich.

 

[peppermint7]

MA I feel still very limited usage... when u r old and retired, ur medical bill not all can use ma to pay... there’s a cap and limit.
I find this limit nonsensical. Imagine u r 65 or 70. See a doctor why cannot use Ma to pay fully? U keep saving the money in ma for next time usage but that is provided u r in good health now or that u r cash rich.

MA is more for bequest for ppl who are healthy all the way

 

[Andrew833]

MA I feel still very limited usage... when u r old and retired, ur medical bill not all can use ma to pay... there’s a cap and limit.
I find this limit nonsensical. Imagine u r 65 or 70. See a doctor why cannot use Ma to pay fully? U keep saving the money in ma for next time usage but that is provided u r in good health now or that u r cash rich.

Agree, but MA can also use for parents, bro sis and son daughter medical bill.

 

[wutawa]

MA is more for bequest for ppl who are healthy all the way

+1
Illness/injury can strike by surprise so MA acts as a buffer.

 

[lifeafter41]

5 years to withdraw my cpf money
That's why now doing alot of calculating and planning.

Let’s hope that they don’t change the rules after this GE.
Cos the by next one, you are eligible to withdraw.......

 

[haohaowan2]

Hi guys, I see a few experts hopefully can get some insight from you guys.
I would like to know what my parents can do with their current status:

Age 63
OA: 32k
SA: 6.8k
MA: 59k
RA: 86k
Because born before 1958, still in RSS.
Not very sure if RSS is better or CPF life is better?
If CPF life is better, what would be the better choice in BRS or FRS?

Age 59 (housewife)
OA: 5k
SA: 0.7k
MA: 5.5k
RA: 35k
Seems very limited choice we can do anything??

 

[yokine3a]

Hi guys, I see a few experts hopefully can get some insight from you guys.
I would like to know what my parents can do with their current status:

Age 63
OA: 32k
SA: 6.8k
MA: 59k
RA: 86k
Because born before 1958, still in RSS.
Not very sure if RSS is better or CPF life is better?
If CPF life is better, what would be the better choice in BRS or FRS?

Age 59 (housewife)
OA: 5k
SA: 0.7k
MA: 5.5k
RA: 35k
Seems very limited choice we can do anything??

RSS is better. What do you want to do? Top up their RA or what?

 

[BBCWatcher]

RSS is better.

Better for/at what?

 

[dork32]

Hi guys, I see a few experts hopefully can get some insight from you guys.
I would like to know what my parents can do with their current status:

Age 63
OA: 32k
SA: 6.8k
MA: 59k
RA: 86k
Because born before 1958, still in RSS.
Not very sure if RSS is better or CPF life is better?
If CPF life is better, what would be the better choice in BRS or FRS?

rss and cpf life both have their advantages.
rss have a higher payout and higher bequest compared to cpf life.
cpf life will pay you till you die, even if you live till 200 years old. rss stops when you funds runs out

i think i gave a very lousy answer, you know why?

 

[henrylbh]

Hi guys, I see a few experts hopefully can get some insight from you guys.
I would like to know what my parents can do with their current status

Housing type and if not fully paid, how much and how many years to complete.

Log in to his CPF and view how much is father's payout if he commences at 65 and at 70 under RSS and is amount enough for retirement needs.

At the same time, view how much CPF has been used for housing and the accrued interest.

 

[maple96]

Age 63
OA: 32k
SA: 6.8k
MA: 59k
RA: 86k

Because born before 1958, still in RSS.

Your dad age 63, so born in 1957, before or after July?

You assume he is still in RSS or u confirmed?

 

[cal3135]

CPFL be a better options for both, as the payout be lifelong vs RSS. May consider defer PEA payout for 1-5 years to increase CPFL monthly payout.

Age63
Pick BRS, as FRS is a distant away. To check with CPFB if able to move some fund OA:32k to spouse, enable her to reach 60k(CPFL min) plus also to maximise spouse extra interest on her first 60k cpf ...

Defer PEA payout 1-5y to get a higher monthly payout

Age59
If able to receive spouse OA will be good, least she be able to meet 60k min for CPFL

If unable, her RA be ~42k nearing 65, May consider top up to 60k for take up CPFL.

Defer PEA payout 1-5y to get a higher monthly payout

Hi guys, I see a few experts hopefully can get some insight from you guys.
I would like to know what my parents can do with their current status:

Age 63 OA: 32k SA: 6.8k MA: 59k RA: 86k

Age 59 OA: 5k SA: 0.7k MA: 5.5k RA: 35k

xs HardwareZone Forums app

 

[dork32]

CPFL be a better options for both, as the payout be lifelong vs RSS. May consider defer PEA payout for 1-5 years to increase CPFL monthly payout.

Age63
Pick BRS, as FRS is a distant away. To check with CPFB if able to move some fund OA:32k to spouse, enable her to reach 60k(CPFL min) plus also to maximise spouse extra interest on her first 60k cpf ...

Defer PEA payout 1-5y to get a higher monthly payout

Age59
If able to receive spouse OA will be good, least she be able to meet 60k min for CPFL

If unable, her RA be ~42k nearing 65, May consider top up to 60k for take up CPFL.

Defer PEA payout 1-5y to get a higher monthly payout

xs HardwareZone Forums app

another one sided argument. did not mention the downside which is rss gives a higher payout and bequest till 90

 

[BBCWatcher]

Age63
Pick BRS, as FRS is a distant away. To check with CPFB if able to move some fund OA:32k to spouse, enable her to reach 60k(CPFL min) plus also to maximise spouse extra interest on her first 60k cpf ...

There is no minimum Retirement Account balance required to participate in CPF LIFE, although obviously a very low balance won't work so well.

Amounts above the BRS could be transferred to the spouse, so that's not an option yet at this level of funding.

another one sided argument. did not mention the downside which is rss gives a higher payout and bequest till 90

If this couple really has such limited funds in their CPF accounts (i.e. they haven't previously selected CPF LIFE and had premiums deducted), it's very, very hard to imagine they should be trying in any way to preserve a bequest they simply cannot afford to give. Moreover, neither the classic Retirement Sum Scheme nor CPF LIFE guarantee any bequest at all. They both reduce to zero residuals if you simply live long enough, but one big difference is that CPF LIFE pays out every month for as long as you live. The classic Retirement Sum Scheme reduces both the bequest and payouts to zero if you simply live long enough.

 

[dork32]

T

If this couple really has such limited funds in their CPF accounts (i.e. they haven't previously selected CPF LIFE and had premiums deducted), it's very, very hard to imagine they should be trying in any way to preserve a bequest they simply cannot afford to give. Moreover, neither the classic Retirement Sum Scheme nor CPF LIFE guarantee any bequest at all. They both reduce to zero residuals if you simply live long enough, but one big difference is that CPF LIFE pays out every month for as long as you live. The classic Retirement Sum Scheme reduces both the bequest and payouts to zero if you simply live long enough.

am i wrong to say that bequest and payout is higher before 90?

correct, cannot afford so bequest should not be a consideration. cannot afford should also go for one with the higher payout.

did i not state that cpf life gives payout for life.

also i quoted an example that you should top up your sa first. you do not seem to have right argument to that except to blindly insisting on topping ma first.

 

[dork32]

There is no minimum Retirement Account balance required to participate in CPF LIFE, although obviously a very low balance won't work so well.

Amounts above the BRS could be transferred to the spouse, so that's not an option yet at this level of funding.


If this couple really has such limited funds in their CPF accounts (i.e. they haven't previously selected CPF LIFE and had premiums deducted), it's very, very hard to imagine they should be trying in any way to preserve a bequest they simply cannot afford to give. Moreover, neither the classic Retirement Sum Scheme nor CPF LIFE guarantee any bequest at all. They both reduce to zero residuals if you simply live long enough, but one big difference is that CPF LIFE pays out every month for as long as you live. The classic Retirement Sum Scheme reduces both the bequest and payouts to zero if you simply live long enough.

again a very one sided argument. do you actually know what is happening? maybe dad in poor health or may not survive till 90. You should mention big big that rss has a bigger bequest and payout before 90. give him the info and let him decide. do not skew the argument to your side

 

[dork32]

these post again shows that bbc is very biased towards his way of thinking.

he will always suppress the advantages of the other side, even if he is wrong as in the topping up ma first.

 

[dork32]

Log in to his CPF and view how much is father's payout if he commences at 65 and at 70 under RSS and is amount enough for retirement needs.

this is a more balance argument.