CPF SA

[BBCWatcher]

The CPF LIFE Basic Plan features a “burble” (slight reduction in monthly payout amount) when you reach a certain age. That’s a well documented fact, and it occurs whether or not you maintain maximum bonus interest earning — and, to repeat yet again, it is still possible to maintain maximum bonus interest earning for the rest of your life. Just maintain enough in your account(s). The amount of the Basic Plan’s “burble” can vary, but there’s a burble unique to that plan.

Am I criticizing the Basic Plan in stating a fact? No, I’m just stating a fact. So is the CPF Board.

 

[maple96]

The CPF LIFE Basic Plan features a “burble” (slight reduction in monthly payout amount) when you reach a certain age. That’s a well documented fact, and it occurs whether or not you maintain maximum bonus interest earning — and, to repeat yet again, it is still possible to maintain maximum bonus interest earning for the rest of your life. Just maintain enough in your account(s). The amount of the Basic Plan’s “burble” can vary, but there’s a burble unique to that plan.

Am I criticizing the Basic Plan in stating a fact? No, I’m just stating a fact. So is the CPF Board.

dork32 is also stating the correct facts, more accurate than your misleading interpretation of how extra interest crediting works!

Those who are rich, with monies in OA/SA/MA/RA need not worry about this cos they are good at maths!

I am teaching u here, so pls admit all your silly mistakes and stop spreading rubbish!

Everyone here knows your pattern, u will always argue u are always right at the point in time, but later will take what I teach u to teach others right or wrong!

 

[dork32]

From CPFB website:



CPFB made unwritten assumptions when stating that rule, ie. that most members will have close to zero balances in OA/SA/MA around/above 90, for example.

this is also my understanding. again we may or may not be right

 

[dork32]

If u already joined CPF Life or going to join CPF Life between 65 to 70, where will your extra interest be credited after joining?

1. Under CPF Life Basic Plan, all extra interest will be credited to RA, forever!
2. Under CPF Life Standard Plan and Escalating Plan, all extra interest will go into the Pool, forever.

(focus on the applicable rule at this Life Stage in BOLD RED above)

this is also my understanding of how it works

 

[Andrew833]

So to confirm.
After 55;
OA interest goes to RA (basic)/ CPFL pool (standard & escalating)
SA interest goes back to SA

Am I right?

 

[dork32]

So to confirm.
After 55;
OA interest goes to RA (basic)/ CPFL pool (standard & escalating)
SA interest goes back to SA

Am I right?

i think you blur oredy.

oa interest forever stay with oa.
sa interest forever stay with sa.

 

[Andrew833]

i think you blur oredy.

oa interest forever stay with oa.
sa interest forever stay with sa.

Yea very blurrrr
Nvm just focus on my plan will do

 

[maple96]

So to confirm.
After 55;
OA interest goes to RA (basic)/ CPFL pool (standard & escalating)
SA interest goes back to SA

Am I right?

We are only talking about extra interest earned, so I assume u are asking about what will happen to the extra interest earned after 55?

Assuming u will either meet BRS/FRS/ERS at 55 in your RA:

Based on CPFB rules, RA will take first priority in earning extra interest, so max 900 will be credited to RA from 55 to 65 (assuming u start CPF Life payout at 65) or to 70 (if u delay joining CPF Life).

Note the change in account crediting rules for extra interest after u join CPF Life in my previous post.


Who is still under RSS or cannot even meet BRS at 55? The story might be different, but I will not talk about it so as not to confuse u. If there is anyone still under RSS and still dunno the answer, ask and I will answer.

(there is never any change in how normal interest due to each account will be credited, ie ownself credit ownself. If MA exceed BHS after interest is credited, the excess will overflow into OA).

 

[maple96]

this is also my understanding. again we may or may not be right

Just speak for yourself, dun use "we" implying I agree with u

 

[culture_counter]

Any chance that gov change the rules again for cpf, and make it less flexible?

 

[reddevil0728]

Any chance that gov change the rules again for cpf, and make it less flexible?

I don't understand how this can be a qns. because why not? We can't predict what a government will do. it's like we can't predict how will anyone person react to something.

but then again, there is "stronger" opposition now, so maybe the pap government wouldn't be so harsh

 

[dork32]

Just speak for yourself, dun use "we" implying I agree with u

it does not mean that the you agree with me that we could be wrong

what i meant is that i felt i could be wrong. and since we have same understanding, if i am wrong then you are wrong.

 

[maple96]

it does not mean that the you agree with me that we could be wrong

what i meant is that i felt i could be wrong. and since we have same understanding, if i am wrong then you are wrong.

Not necessary, cos what u think might be different from what i think cos i always reserve some info to myself. So next time, dun speak for me ok

 

[SkyNinja]

Now economy so jialat, will SA interest rate be affected?

 

[cscs3]

Now economy so jialat, will SA interest rate be affected?

Even it get revised, is stilk going to be much better then what you you get from bank.

 

[culture_counter]

I don't understand how this can be a qns. because why not? We can't predict what a government will do. it's like we can't predict how will anyone person react to something.

but then again, there is "stronger" opposition now, so maybe the pap government wouldn't be so harsh

Hopefully so. Guess you could be right because they now have to listen and perform better in order to recover more votes in 5 year's time. But can they at least lower down the age of starting cpf life monthly drawdown to 62 or 63, instead of 65?

 

[reddevil0728]

Hopefully so. Guess you could be right because they now have to listen and perform better in order to recover more votes in 5 year's time. But can they at least lower down the age of starting cpf life monthly drawdown to 62 or 63, instead of 65?

I doubt this will happen. More likely it will increase rather than decrease from being prudent pov.

Blame it on us living longer?

 

[BBCWatcher]

But can they at least lower down the age of starting cpf life monthly drawdown to 62 or 63, instead of 65?

No, because you can already make one or more withdrawals as early as age 55.

However, if we're going to solve a poverty problem prior to age 65 -- and I like eliminating poverty! -- could we please not do it by increasing poverty among the oldest Singaporeans? In fact, that's arguably exactly what the government did during the Asian Financial Crisis (reduced a temporary problem by increasing a future problem, primarily via CPF contribution reductions), and that decision (or set of decisions) has not aged well, no pun intended.

 

[dork32]

No, because you can already make one or more withdrawals as early as age 55.

However, if we're going to solve a poverty problem prior to age 65 -- and I like eliminating poverty! -- could we please not do it by increasing poverty among the oldest Singaporeans? In fact, that's arguably exactly what the government did during the Asian Financial Crisis (reduced a temporary problem by increasing a future problem, primarily via CPF contribution reductions), and that decision (or set of decisions) has not aged well, no pun intended.

this is not right. i feel what garmen did during the 1998 is correct. yes, reducing cpf will affect the retirement cpf. the fact is this: during that time many companies are running out of money. if garmen dont step in to help, the company will go bust. there will not be any future problem coz there is no future left.
so digging into our reserves to help these companies is a better choice? nothing is for free. we were taxed heavily to build up the reserves. our taxes will be worse to make up for the money that is used to save the companies as in the current case.
during that time i was already in the workforce. yes, i lost my cpf contribution. but today, my cpf is still pretty decent. of course, having more in it is definitely better. wat i want to say is that we were over saving in our cpf, beyond the retirement requirements as in my case. if that is the case, taking a bit away to solve the current problem is not a bad choice. we have time to solve future problems.

 

[dork32]

But can they at least lower down the age of starting cpf life monthly drawdown to 62 or 63, instead of 65?

draw at 62 means draw less. draw at 65 means draw more. there is no free lunch