CPF SA

Prof. Utonium

Prof. Utonium

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KnyghtRyder said:
Really.. I saw a graphic that looked different..

So are you saying that if I have 200k in 0A/SA out of which 50k is top up I will set aside the full BRS out of my OA/SA and a further 50k from the top up and only withdraw sums above that?
Click to expand...


Succinctly, whatever amount you top up can ignore it from your withdrawal calculation. It is specifically meant for retirement to reduce "abuse". If not, many citizens would dump their cash into CPF as long term fixed deposit.


As long your non top up monies is more than the BRS (if you so choose that scheme), you are able to withdraw the balance.


Cash top up makes more sense for higher income bracket.
 
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moolahloolah

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sJBpBj8.png


https://www.cpf.gov.sg/Members/Schemes/schemes/retirement/withdrawals-of-cpf-savings-from-55

It is very clearly stated in CPF website that no top-up moneys are eligible for lump sum withdrawal at age 55.

All top-ups and their accrued interest turn eligible for lump sum pay-outs only at age 65.

So anyone depositing voluntary top-up should be highly aware that it transforms into payout only from age 65.

This arrangement is logical because if a 55 yo is so "desperate" as to insist on a lump-sum withdrawal of top-up moneys at age 55, instead of waiting another 10 years to receive it at age 65, he is probably not in the best state/shape for real retirement at age 55.
 
eyz

eyz

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My CPF current status

OA - 60
SA - 157
MA - 60

I have an old HDB flat, which is more than 40 years. Might want to ballot for BTO.

So for my situation, should I top up to 181k?
 
crimsontactics

crimsontactics

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moolahloolah said:
sJBpBj8.png


https://www.cpf.gov.sg/Members/Schemes/schemes/retirement/withdrawals-of-cpf-savings-from-55

It is very clearly stated in CPF website that no top-up moneys are eligible for lump sum withdrawal at age 55.

All top-ups and their accrued interest turn eligible for lump sum pay-outs only at age 65.

So anyone depositing voluntary top-up should be highly aware that it transforms into payout only from age 65.

This arrangement is logical because if a 55 yo is so "desperate" as to insist on a lump-sum withdrawal of top-up moneys at age 55, instead of waiting another 10 years to receive it at age 65, he is probably not in the best state/shape for real retirement at age 55.
Click to expand...
That one is RA lah Bro.

Ppl talking about SA and OA.

Everything above FRS can be taken out regardless of top up or not.

Sent from . using GAGT
 
77james

77james

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eyz said:
My CPF current status

OA - 60
SA - 157
MA - 60

I have an old HDB flat, which is more than 40 years. Might want to ballot for BTO.

So for my situation, should I top up to 181k?
Click to expand...

If u want to buy flat, seriously shouldn’t top up, as OA can help to pay housing loan. Unless u calculate before hand, how much yr flat will be enough to cover after selling yr old flat.

Top up is one way ticket. No u turn one
 
77james

77james

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crimsontactics said:
For BRS not so simple.

Your non top-up money is used first to meet your BRS followed by top-up money.

And your top-up money cannot be withdrawn except for the first $5k.

For example, this year BRS is $90.5k. Your OA/SA have $100k, but $50k is by top-up. Your non top-up $50k is used first to meet BRS followed by your top-up $50k.

So end up you can only withdraw $5k instead of $9.5k.

Sent from . using GAGT
Click to expand...

Actually at 55, if RA hit above FRS. And u have property, I believe u got 2 choices to decide.

Can withdraw excess FRS 181k even with topup

If BRS plus property is excess of of 90.5k minus topup.

Cannot have BRS plus FRS and combine excess to withdraw
 
crimsontactics

crimsontactics

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77james said:
Actually at 55, if RA hit above FRS. And u have property, I believe u got 2 choices to decide.

Can withdraw excess FRS 181k even with topup

If BRS plus property is excess of of 90.5k minus topup.

Cannot have BRS plus FRS and combine excess to withdraw
Click to expand...

At 55, your RA won't be above FRS. :(

The "excess" is left inside OA/SA... :(

Can combine to withdraw... :(
 
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Kaypohji

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Sigh. See u all buy house all <300plus k.

Now not easy to find such price anymore
 
eyz

eyz

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if I sell my current flat, I'll probably have money going back to CPF.

but I'll probably owe CPF in accrued interest, and loss from the sale.

77james said:
If u want to buy flat, seriously shouldn’t top up, as OA can help to pay housing loan. Unless u calculate before hand, how much yr flat will be enough to cover after selling yr old flat.

Top up is one way ticket. No u turn one
Click to expand...
 
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