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karakorum1999

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a4973 said:
it is clear cut if the transferred amount is = / < contribution amount however does the FAQ then imply if the transferred amount is > contribution amount then the difference will still earn interest in the current month?
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This is based on principle. And (presumed) consistent policy.
But I could be giving CPF more credit than they deserve?
I have no personal experience on this, but I get what you mean, that if you transfer a larger amount, CPF could use the pretext to not give interest for the entire amount. They could do that but it would be arbitrary and we could contest that or “protest” (provided one tracks the interest)...
 
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karakorum1999

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Shutterfly said:
Interested to know as well.
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Would be interested as well.

The FAQ seems to apply if your top up is this month (I assume 1 Jan is still Jan), then interest for that only applies next month..
Hmm.. may depend on how they define lowest balance for 1st Jan.
 
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Shutterfly

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karakorum1999 said:
Would be interested as well.

The FAQ seems to apply if your top up is this month (I assume 1 Jan is still Jan), then interest for that only applies next month..
Hmm.. may depend on how they define lowest balance for 1st Jan.
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If it is based on lowest daily balance, then transferring it today is a good choice.. but if it is based on lowest balance at any point of time, then it will be too late to transfer.
 
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Tiger9119

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karakorum1999 said:
Would be interested as well.

The FAQ seems to apply if your top up is this month (I assume 1 Jan is still Jan), then interest for that only applies next month..
Hmm.. may depend on how they define lowest balance for 1st Jan.
Click to expand...

Last year I had asked CPF concerning the interest and they replied that the interest only start in Feb. Even if you managed to topup at 00.01hrs on 01Jan, you won't get interest for the topup amount for the month of Jan.
 
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karakorum1999

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Tiger9119 said:
Last year I had asked CPF concerning the interest and they replied that the interest only start in Feb. Even if you managed to topup at 00.01hrs on 01Jan, you won't get interest for the topup amount for the month of Jan.
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Thanks.
I never tried top up/VC on 1st of the month (usually close to month end).
 
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Shutterfly

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Tiger9119 said:
Last year I had asked CPF concerning the interest and they replied that the interest only start in Feb. Even if you managed to topup at 00.01hrs on 01Jan, you won't get interest for the topup amount for the month of Jan.
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Thanks for sharing. Then no hurry to contribute. :s13:
 
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battledome64 said:
Anyone topped up to OA before? Is it worthwhile knowing you can use it for house repayment?
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You cannot just solely top-up OA, voluntary contributions will be distributed into all 3 accounts according to the allocation rates in your age group.
 
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dork32

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battledome64 said:
Anyone topped up to OA before? Is it worthwhile knowing you can use it for house repayment?
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yes i do top up oa. it is thru housing refund. i can do it because i already withdraw a lot for housing.

worthwhile or not depends on what you intend to do with your money if you do not want to top up your cpf. if you are going to put the money under your pillow then topping up is a good choice. if you are going to use it to buy bitcoin which rises 10% every few days, then the interest in oa looks pathetic.

for myself i have a substantial housing loan. very frequently, people will pay down the loan when they feel that they have excess cash. for me i do not pay down the loan when i feel rich. i pay it back to cpf oa.
 
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Dividends said:
You cannot just solely top-up OA, voluntary contributions will be distributed into all 3 accounts according to the allocation rates in your age group.
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Could you share what the allocated percentages of our contributions are? i can't find the information..
 
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Alearner

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dork32 said:
yes i do top up oa. it is thru housing refund. i can do it because i already withdraw a lot for housing.

worthwhile or not depends on what you intend to do with your money if you do not want to top up your cpf. if you are going to put the money under your pillow then topping up is a good choice. if you are going to use it to buy bitcoin which rises 10% every few days, then the interest in oa looks pathetic.

for myself i have a substantial housing loan. very frequently, people will pay down the loan when they feel that they have excess cash. for me i do not pay down the loan when i feel rich. i pay it back to cpf oa.
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Are we able to see how much we had previously used for home loan in our CPF portal? how to pay back? directly on CPF portal? can pay any amount we want?
 
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minamikaze

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Bro, where do u see this? Can't find it on cpf website?

peacefulday said:
Before MA cash top up
Date
01 Jan 2021
Time
09:22 AM (Singapore Time)
You can still contribute $37,740.00 * as Voluntary Contribution to your Ordinary, Special and Medisave Accounts.

After MA $3k top up
Date
01 Jan 2021
Time
09:33 AM (Singapore Time)
You can still contribute $34,740.00 * as Voluntary Contribution to your Ordinary, Special and Medisave Accounts.
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