CPF SA

[fandango]

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.

Don't sell your flat

 

[Kaypohji]

Can property market don’t raise during this kind of turbulent times

 

[zuppeur]

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And your top-up money cannot be withdrawn except for the first $5k.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

What happens in this case
Going for Brs 90.5k + pledge property

OA 40.5k
SA 90 5k which 40.5k by rstu

Weeks before age 55, shield 40.5k in my SA with FD

After RA is formed, I liquidate my shield. 40.5k is return back to SA.
Can this 40.5k be withdraw?

 

[blacklotus]

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

This.

only transfer from OA to SA when you have fully paid for your housing loan.

 

[aceminer]

How the hell u all have so much on cpf?

 

[crimsontactics]

What happens in this case
Going for Brs 90.5k + pledge property

OA 40.5k
SA 90 5k which 40.5k by rstu

Weeks before age 55, shield 40.5k in my SA with FD

After RA is formed, I liquidate my shield. 40.5k is return back to SA.
Can this 40.5k be withdraw?

Sorry, I don't know enough about shielding and RSTU relationship.

Sent from . using GAGT

 

[KnyghtRyder]

in my 30+. tomorrow going to fill up my SA to 180k

my parents think i really stupid. say gov change goal post this and that. But i believe i right

Even if govt change goal post. You are still better off putting funds in SA than otherwise..

 

[elf108]

Other ppl think I really stupid to clear hdb loan outstanding loan with 200k cash.

Just do whatever u think is comfortable.

 

[KnyghtRyder]

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.

I get your point.. I think CPF should just have a section where they can show you how much you can withdraw under the prevailing BRS/FRS amount.. and the calculations.. in your myCPF webpage.. that would be very handy for most people..

 

[ramlee]

Not true lah. I am not even 50, SA already > 200k.

Elite spotted

 

[KnyghtRyder]

How the hell u all have so much on cpf?

If you feed the pig it will grow fat..
If you starve the pig, why be surprised that it is skinny?

If someone give lots of nutritious food to help you fatten the pig but you scared the nutritious food is poison so you instead substitute with your own less nutritious food, then why be surprised that other farmers who use the nutritious food have fatter pigs than you?

 

[orwell76]

Bro orwell76 very upset that CPF is not EPF...


EPF average return is 6% vs CPF 4+%...


EPF can withdraw everything at 55..


Sent from . using GAGT

I ish buay song this solvency clause in CPF Life, so dun any howly pom hor

 

[SKenny]

I ish buay song this solvency clause in CPF Life, so dun any howly pom hor

This is one of the reason why I prefer the old minimum sum scheme to CPFlife scheme.

 

[orwell76]

This is one of the reason why I prefer the old minimum sum scheme to CPFlife scheme.

That is why only 40,000 out of 660,000 eligible members opt into the CPF Life scheme when first introduced in 2009.

 

[d3n]

Exactly! Especially if u are 40& above!

This.

only transfer from OA to SA when you have fully paid for your housing loan.

www.dennislee.co HardwareZone Forums app

 

[Jordan]

Other ppl think I really stupid to clear hdb loan outstanding loan with 200k cash.

Just do whatever u think is comfortable.

I prob won't do that. But to each his own. As long as you happy can liao.

Posted from PCWX using ONEPLUS A6000

 

[mihawk]

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.

CPF is not very clear on this I believe. The underlying rule is that any monies above FRS can be withdrawn, top-up or not. It’s like what the other edmwers have shared. I wrote to CPF to ask before.

SA believer here too. Have been topping since I started work. Aim is to be CPF SA millionaire by retirement!

 

[mihawk]

This is one of the reason why I prefer the old minimum sum scheme to CPFlife scheme.

Can opt for basic plan. Don’t take the default plan.

 

[SKenny]

Can opt for basic plan. Don’t take the default plan.

I definitely prefer the basic plan instead of the other two.

 

[highsulphur]

I definitely prefer the basic plan instead of the other two.

You going for the BRS basic plan?