Discussn : Anyone here already achieved FRS $213K or ERS $426K ?

[socratesg]

I am turning 40 soon and wondering if anyone here managed to reach either the CPF Full Retirement Sum (FRS) $213K or better still Enhanced Retirement Sum (ERS) $426K before you reach 55yo ?

Can share ? Thanks ya.

PS : I'm asking coz I run my own biz. Though Medisave contribution is compulsory by CPF, FRS or ERS contribution is own time own target.

 

[Shutterbox]

Share semo?

 

[jumpthepig]

I am turning 40 soon and wondering if anyone here managed to reach either the CPF Full Retirement Sum (FRS) $213K or better still Enhanced Retirement Sum (ERS) $426K before you reach 55yo ?

Can share ? Thanks ya.

If someone dumps all OA saving into property…Their OA CPF will be always like empty…so not easy to reach FRS.

 

[drkcynic]

Achieved liao cannot even buy a kopi with the money until you are laokokkok.

 

[socratesg]

FRS can withdraw $1.6K to $2K per month upon 65 yo and ERS can withdraw double of that. It's actually quite good.

 

[junweiong]

achieve FRS this year at 38 but OA is $0 HAHAHAHA transfer all to reach FRS
no cash topup

 

[purplewave]

ish still a little far fetch

 

[beanwatchtv]

Hit FRS when i was 43. But i did top up a few times with cash.

 

[standarture]

Quite easy to hit FRS.... Minimise use of CPF can liao.

 

[Emperor_Hippo]

I am turning 40 soon and wondering if anyone here managed to reach either the CPF Full Retirement Sum (FRS) $213K or better still Enhanced Retirement Sum (ERS) $426K before you reach 55yo ?

Can share ? Thanks ya.

Just touched FRS. ERS not yet.

How to reach it ah? Take CPF go invest loh, buy T-Bills, Bonds, etc.
Can accumulate how much means how much + work hard.

Bit by bit build up. Slow and steady wins the race.

 

[ask_yip]

cannot hit cause OA used to buy HDB liao

most probably will pledge HDB and go for BRS nia

 

[jumpthepig]

achieve FRS this year at 38 but OA is $0 HAHAHAHA transfer all to reach FRS
no cash topup

RA begins @55…. how you get RA at 38?

What happens to my CPF savings when I turn 55?
https://www.cpf.gov.sg/service/article/what-happens-to-my-cpf-savings-when-i-turn-55

 

[Hello_Kitty]

cannot hit cause OA used to buy HDB liao

most probably will pledge HDB and go for BRS nia

is the pledging done online???
need to submit what documents???

 

[xdivider]

FRS can withdraw $1.6K to $2K per month upon 65 yo and ERS can withdraw double of that. It's actually quite good.

i rather money in hand than locked up actually.........

 

[inmyopinion]

I am turning 40 soon and wondering if anyone here managed to reach either the CPF Full Retirement Sum (FRS) $213K or better still Enhanced Retirement Sum (ERS) $426K before you reach 55yo ?

Can share ? Thanks ya.

Target FRS. ERS is optional. The amount is different for each cohort,

FRS = 213K and ERS = 426K is for those who are 55 yo this year.

Remember, you get monthly payout starting from 65.

 

[Laguna123]

FRS can withdraw $1.6K to $2K per month upon 65 yo and ERS can withdraw double of that. It's actually quite good.

If up lorry at 64yo then withdraw zero $.

 

[wutawa]

I am turning 40 soon and wondering if anyone here managed to reach either the CPF Full Retirement Sum (FRS) $213K or better still Enhanced Retirement Sum (ERS) $426K before you reach 55yo ?

Can share ? Thanks ya.

Hit frs liao then next year will continue to hit until u 55yo?

Hitting frs in 30s is useless. U should aim to hit frs when u r 55yo if u love cpf.

 

[Laguna123]

If don’t buy HDB then easily hit FRS or ERS.

 

[Emperor_Hippo]

cannot hit cause OA used to buy HDB liao

most probably will pledge HDB and go for BRS nia

U how old only? Use OA to buy HDB and wipe out OA is normal.
My time lagi worse, don't have the $20,000 "pad", if say wipeout, really is wipe until $0 one.

Rebuild your OA again, can be done one. Work hard, drop by drop, you will get there.

 

[Prismatic]

FRS increases by around 3% every year until you reach 55. If you have already reached FRS, the yearly interest CPF rates of 2.5% and 4% will more or less keep you ahead of the FRS.