CPF SA

[dork32]

Appreciate the table but that was nv my qns

I was nv comparing age 65 or 70 to start payout... all along my question is if a private insurance annuity is slightly better than cpf life standard frs if one is to pass away at their 80s... my qns is very specific....

you can ask question, i cannot ask question?

i ask question you dont want to reply

you ask question, other people must reply?

 

[dork32]

Let use amount as an example to better understanding.
Example1;
before 55, oa 90k sa 181k - no shield

after 55, you cannot take out oa and sa interest yearly cos you have to clear oa then can touch sa.

what you state could be correct or wrong. this could be the scenario.

Example 3
before 55, oa 90k sa 181k - no shield
at 55, oa 90k, sa 0k, ra 181k
after 55 choose brs.oa 90k, sa 0k, ra 90.5k. cash 90.5k

the question is when do choose brs, before or after 55?
The other question is we choose brs, what happen to the 90.5k, cash or sa?

 

[henrylbh]

Let use amount as an example to better understanding.
Example1;
before 55, oa 90k sa 181k - no shield
at 55, oa 90k, sa 90.5k, ra 90.5k
after 55, you cannot take out oa and sa interest yearly cos you have to clear oa then can touch sa.

Example 2;
before 55, oa 90k, sa 181k - shield sa 141k/90.5k - oa 90k, sa 40k/90.5k
at 55, shield sa 141k - oa 35k, sa 0, ra 90.5k
after 55, unshield sa 141k - oa 35k, sa 141k, ra 90.5k
at 55, shield sa 90.5k - oa 90k, sa 0, ra 90.5k - no reason to shield since no different

In order to withdraw yearly interest from sa, you have to withdraw all your remaining oa before 55.

Reading makes me more blur Ha ha

 

[Andrew833]

what you state could be correct or wrong. this could be the scenario.

Example 3
before 55, oa 90k sa 181k - no shield
at 55, oa 90k, sa 0k, ra 181k
after 55 choose brs.oa 90k, sa 0k, ra 90.5k. cash 90.5k

the question is when do choose brs, before or after 55?
The other question is we choose brs, what happen to the 90.5k, cash or sa?

I think should be before 55, cpf will send you a letter.
The other question is up to individual. If cash why not shield? If sa, how much?

 

[Andrew833]

Reading makes me more blur Ha ha

Haha, this explain to Kaypohji only
The rest of you already know what to do liao.

 

[dork32]

Reading makes me more blur Ha ha

what andrew is saying is that shielding makes no difference, if you want to split your 180 sa into 90k sa and 90k ra

 

[dork32]

I think should be before 55, cpf will send you a letter.
The other question is up to individual. If cash why not shield? If sa, how much?

if up to individual then good. if cpf choose, then bad.

if cash, then must shield such that sa is 90.5k

if sa then 90.5k

 

[Kaypohji]

Why must I top up my RA to frs when I choose brs ? I have asked cpf and they said my RA do not have to keep until frs if I pledged my property and I didn’t do any cash top up

And also one say withdraw oa before SA, one day no?

In order to withdraw yearly interest from sa, you have to withdraw all your remaining oa before 55.

If you want other half of 90.5k from SA going into RA to meet BRS, you need to shield it. But when you unshield, you need to make good any shortfall in FRS in RA So?

Next, you cannot withdraw OA before SA.

 

[fr33d0m]

Why must I top up my RA to frs when I choose brs ?

And also one say withdraw oa before SA, one day no?

you choose BRS to withdraw money from RA. But CPF life requires at least FRS. If you don't have enough money in RA for CPF life, all your other CPF accounts can be drawn to fulfill full FRS amount.

 

[Kaypohji]

Thanks.. but I asked cpf they mentioned as long as I pledge my property and no top up in cash before, I can choose brs. The rest I can withdraw... they didn’t mention I must still keep FRS amount in RA. They said I can withdraw... did I misinterpret their info?

you choose BRS to withdraw money from RA. But CPF life requires at least FRS. If you don't have enough money in RA for CPF life, all your other CPF accounts can be drawn to fulfill full FRS amount.

 

[fr33d0m]

Thanks.. but I asked cpf they mentioned as long as I pledge my property and no top up in cash before, I can choose brs. The rest I can withdraw... they didn’t mention I must still keep FRS amount in RA. They said I can withdraw... did I misinterpret their info?

you can withdraw. But you have to withdraw all your CPF before selecting CPF life plan(correction, six months before payout eligibility age, which is 65 now). Otherwise, government will sweep your CPF accounts and all future payment to CPF accounts to fulfill FRS.

No one with enough means chooses BRS and withdral RA because SA/OA are liquid deposit account with high interests after retirement.

 

[Kaypohji]

U mean one have to keep frs amount in RA regardless what plan I choose ? Does the interest in RA and that remainder after minus brs still able to be used/withdraw ?

Hmm I’m just thinking to choose brs. Then the rest keep in oa and sa as per usual. Then I can withdraw whatever amount I like at whatever timing I want. Not to withdraw everything entirely.

you can withdraw. But you have to withdraw all your CPF before selecting CPF life plan. Otherwise, government will sweep your CPF accounts and all future payment to CPF accounts to fulfill FRS.

No one with enough means chooses BRS and withdral RA because RA/SA/OA are liquid deposit account with high interests after retirement.

 

[fr33d0m]

U mean one have to keep frs amount in RA regardless what plan I choose ? Does the interest in RA and that remainder after minus brs still able to be used/withdraw ?

Hmm I’m just thinking to choose brs. Then the rest keep in oa and sa as per usual. Then I can withdraw whatever amount I like at whatever timing I want. Not to withdraw everything entirely.

If you are born in 1958 or after, and have not set aside your FRS in your RA, there will be another transfer of Special Account and/or Ordinary Account savings to your RA, up to FRS, six months before you reach your payout eligibility age. This transfer sets aside more monies in your RA for your retirement, which will enable you to receive more monthly payouts under CPF LIFE and the Retirement Sum Scheme.

you can choose BRS at 55 to withdraw money from CPF RA. Six months before reaching 65, government will sweep your CPF accounts starting from highest interest rate one, that is, SA to fulfill FRS. So you can't only have BRS in RA and money in other CPF accounts six months before reaching 65.

 

[Kaypohji]

I see... so regardless frs amount still have to be there.

Aiya so inflexible

you can choose BRS at 55 to withdraw money from CPF RA. Six months before reaching 65, government will sweep your CPF accounts starting from highest interest rate one, that is, SA to fulfill FRS. So you can't only have BRS in RA and money in other CPF accounts six months before reaching 65.

 

[fr33d0m]

I see... so regardless frs amount still have to be there.

Aiya so inflexible

our highly paid scholars are smart, okay?

 

[Andrew833]

you can choose BRS at 55 to withdraw money from CPF RA. Six months before reaching 65, government will sweep your CPF accounts starting from highest interest rate one, that is, SA to fulfill FRS. So you can't only have BRS in RA and money in other CPF accounts six months before reaching 65.

He already abit blur, yet you made him more blur.
Don't talk about 65, we have to made decision before 55 first.

 

[Kaypohji]

Thanks for clarification. All along I keep thinking I can put brs in RA and the rest in cpf account beyond 65. So this is where we have to shield from 55 to 65? To keep money from sweeping in both at 55 and 65?

our highly paid scholars are smart, okay?

 

[Kaypohji]

All along I thought shielding is to prevent sa being used for frs/brs. So shield sa to use oa first.

I didn’t know frs is compulsory to fulfill at 65 again. If like this I can’t choose brs ? I mean what will happen to the excess if i only choose brs in the end ? The interest how ?

He already abit blur, yet you made him more blur.
Don't talk about 65, we have to made decision before 55 first.

 

[fr33d0m]

Thanks for clarification. All along I keep thinking I can put brs in RA and the rest in cpf account beyond 65. So this is where we have to shield from 55 to 65? To keep money from sweeping in both at 55 and 65?

don't fight FRS. There is no point. 2nd sweep never ends until FRS is fulfilled.

BRS is reserved for people without enough.

Now you can appreciate why people talk about CPF life plans, not BRS/FRS.

 

[Andrew833]

Why must I top up my RA to frs when I choose brs ? I have asked cpf and they said my RA do not have to keep until frs if I pledged my property and I didn’t do any cash top up

And also one say withdraw oa before SA, one day no?

I think my mistake, think to confirm with experts here.