CPF SA

[77james]

Use this calculator

https://www.cpf.gov.sg/eSvc/Web/Miscellaneous/ContributionAllocation/ContributionAllocationCalculator

Oh thanks. That’s why I know this forum. If u not sure about anything. Surely there will be ppl which know and even provide link to help.

 

[77james]

https://www.areyouready.gov.sg/Your...llocation-rates-change-as-you-grow-older.aspx

Thanks this is the contribution rates for changes when we age after 55 while still working.

 

[terence2112]

It seems that cpf changed this suddenly this year. Rss will only last till 81 years old. Many will have a rude shock once they turn 81 with no income thereafter.

RSS is designed to last only for 20 years. Because of longevity, cpf life was introduced.

 

[dork32]

Why such threads always end up with dork32, BbC and maple96 arguing?

there are certain points that we can never agree. bbc does not want to back down. why should i back down?

 

[dork32]

I agree with your logic, Celtosaxon. It is logical.

i disagree. there is a large proportion of people that do not need life annuity.

bbc gives the example that gates has an annuity. gates does have the it, but do you think he will ever need it.

bbc also gives the example that madoff needs it. first thing is if he is going to cheat people, he better need a back up plan. second is he was jailed for life. how will his annuity help his life in prison?

these are trash examples.

i still stand by it not everyone needs annuity. there are many here that agree that but they are not tat bo liao as to argue with bbc.

 

[dork32]

The change to 81 yo was never reported.

i do not like our garmen. but i dont think they are so irresponsible as to implement this change without reporting.

 

[dork32]

Oh thanks. That’s why I know this forum. If u not sure about anything. Surely there will be ppl which know and even provide link to help.

you are right. many people here gives good answers. also our cpf site quite cui. too much info. not easy to find the ones we want.

 

[dork32]

Maybe it me which put in the wrong title. Don’t argue in this forum, lets have peace and share knowledge. If I am wrong pls correct me I am more happy.

We are learning and trying to understand how CPF rules work correctly, if someone share incorrectly as maybe interpret the rules differently. We should correct each one right?
If view differences, we should clarify with CPF board.

then based on this we decide how we going to manage our retirement fund.

Because all our thinking might be different.
Some may prefer safe investment like to earn 2.5/4 interest. Some may prefer liquid cash on hand to invest.

Some may prefer balance like invest and enjoy like holiday. Some may like cars or other hobby.

Let’s make us have understanding on CPF and the updates if there are changes.

i agree with your post. there is never a right or wrong answer.

knowledge is important so that we can make the correct decision based on our needs.

 

[crimsontactics]

Hi guys, I just checked using my own account. Transfer from OA to SA is not considered part of RSTU and can be withdrawn at 55 even with BRS.


Sent from . using GAGT

 

[peppermint7]

Hi guys, I just checked using my own account. Transfer from OA to SA is not considered part of RSTU and can be withdrawn at 55 even with BRS.


Sent from . using GAGT

Young yet well prepared for retirement

 

[ocs_woodlands]

Hi guys, I just checked using my own account. Transfer from OA to SA is not considered part of RSTU and can be withdrawn at 55 even with BRS.


Sent from . using GAGT

I remember last year your SA was only 90k+..... organi c growth or inorganic growth?

 

[crimsontactics]

Young yet well prepared for retirement

No lah...

Moi just lucky...

Sent from . using GAGT

 

[Kaypohji]

It’s says 107k is reserved under the RSTU.

Meaning that 107k is u top up by cash? Or it’s transferred from cpf oa ?

Hi guys, I just checked using my own account. Transfer from OA to SA is not considered part of RSTU and can be withdrawn at 55 even with BRS.


Sent from . using GAGT

 

[crimsontactics]

I remember last year your SA was only 90k+..... organi c growth or inorganic growth?

I topped up by cash around $100k and it's not 1 short.

The rest all transfer from OA.

Amount seems to agree that OA to SA transfer is not part of RSTU since reserved amount is only $7k more than my $100k top up.

Sent from . using GAGT

 

[Squaredot]

Young yet well prepared for retirement

I'm old yet I know nuts about CPF Cannot keep up wif loads of CPF info

 

[crimsontactics]

It’s says 107k is reserved under the RSTU.

Meaning that 107k is u top up by cash? Or it’s transferred from cpf oa ?

$100k by cash, the rest is by interest earned from the $100k.

I didn't top up one shot so the interest is just about right.

Sent from . using GAGT

 

[BBCWatcher]

i disagree. there is a large proportion of people that do not need life annuity.

That's not quite what Celtosaxon wrote. His point is that people who arguably don't need a life annuity don't have any complaint about CPF LIFE. That's because the Full Retirement Sum (or Basic Retirement Sum with property pledge/charge) is a mere trifle to them, such a tiny fraction of total wealth that it doesn't matter. And to the tiny extent it does matter, they can adjust the rest of their wealth to be a bit more aggressively invested. They can certainly work with it. On the other hand, people who complain about CPF LIFE need a life annuity.

bbc also gives the example that madoff needs it. first thing is if he is going to cheat people, he better need a back up plan. second is he was jailed for life. how will his annuity help his life in prison?

First of all, Madoff's life annuity (U.S. Social Security) is joint/survivor, so his wife Ruth will enjoy Bernie's retirement benefit when Bernie passes if Bernie's payout is higher than hers. Also, while Bernie is alive, Ruth can receive a spousal annuity (half Bernie's payout) if that amount is higher than Ruth's own. I'm oversimplifying slightly here, but the basic point is that Bernie Madoff's escalating sovereign life annuity protects his spouse, Ruth, too. (I would like to see CPF LIFE become joint/survivor or joint/contingent in some form.)

Second, Bernie Madoff is petitioning for early release from prison, and conceivably President Trump could pardon him or commute his sentence. It's not definite that he'll be spending all the rest of his days behind bars.

Third, criminal conviction and prison aren't the only ways to crash into destitution. They aren't even necessarily the most effective ways.

 

[henrylbh]

It seems that cpf changed this suddenly this year. Rss will only last till 81 years old. Many will have a rude shock once they turn 81 with no income thereafter.

Where you get info that RSS will only last to 81 years old or you understand wrongly?

Payout under RSS is calculated to exhaust the min sum over a 20 years duration or around 85 years for the those whose payout starts at 65. However with the extra interest and additional extra interest, the payout may stretch to 90 years. For some, the payout duration can be much shorter than 20 years due to low balance and min monthly payout of $250.

 

[77james]

Hi guys, I just checked using my own account. Transfer from OA to SA is not considered part of RSTU and can be withdrawn at 55 even with BRS.


Sent from . using GAGT

Thanks for the info. Based on Medisave amount can tell should be quite young, even self employed also need to top up Medisave

But SA already exceed more than me which already gg to hit 50 yrs old. Not easy.

To topup 100k in cash is also not easy. u must overcome putting in cash with the mindset for retirement and only able to see the excess at age 55.

Not many ppl can do it. Applause... if so young got 100k is.....wa...

 

[celtosaxon]

i disagree. there is a large proportion of people that do not need life annuity.

I am here to learn and sincerely wish to understand more about what you asserting here.

Can you please provide details about this large proportion of people that do not need a life annuity.

Specifically:

What kind of financial means do they have access to?

What guarantees do they have that those financial means will never be compromised?