PETITION to CPF: Spill over from Medisave shld return as cash if SA is also maxed out

[Mecisteus]

TS needs the money now to defray the rising COL, not wait unitl age 55 that may be many moons away.

Already max FRS.

So TS shouldn't have an issue with COL.

There are many more who are driving grab and doing delivery not meeting FRS yet.

 

[RoLanTo]

try max out OA,,, maybe will overflow into SRS, max out SRS, maybe you would have trigger a hidden item long term Fixed deposit plan..

 

[jumpthepig]

If your MA (medisave account) is max-ed out at BHS (basic healthcare sum), the allocation to MA is transferred to SA (special account).
If you both your MA and SA are max-ed out, the allocation to MA is transferred to OA.

But I think should not be transferred to OA, it should be refunded to us in cash. It is our money, we already fulfilled your requirement to trap our $ insai your MA and SA limit. The rest should gib back to us to cope with higher cost of living

Do you agree?

After SA max-ed out….that interest p/a is just $3k… not much also.

 

[Itsthatguy]

Already max FRS.

So TS shouldn't have an issue with COL.

There are many more who are driving grab and doing delivery not meeting FRS yet.

If ts is not 55 yet, cannot withdraw cash. FRS payout only kicks in at 65 by default.

 

[mcylo]

Pls don’t. I don’t kiam eng those hundreds

 

[LoaGong12]

If your MA (medisave account) is max-ed out at BHS (basic healthcare sum), the allocation to MA is transferred to SA (special account).
If you both your MA and SA are max-ed out, the allocation to MA is transferred to OA.

But I think should not be transferred to OA, it should be refunded to us in cash. It is our money, we already fulfilled your requirement to trap our $ insai your MA and SA limit. The rest should gib back to us to cope with higher cost of living

Do you agree?

yah yah our money then handover to scammers
if you hv so much money you can cope with rising cost of living
cpf oa is not restrictive. can go n buy S n P 500 etc

 

[hmyoth]

Time to top up OA via housing refund or do a VC . Bank interest rate is very low now . But make sure you are near or above 55, meet FRS . Treat OA as a saving account to earn 2.5% if u are not into risky investment like stock/crypto.

 

[NintendoSwitch]

If your MA (medisave account) is max-ed out at BHS (basic healthcare sum), the allocation to MA is transferred to SA (special account).
If you both your MA and SA are max-ed out, the allocation to MA is transferred to OA.

But I think should not be transferred to OA, it should be refunded to us in cash. It is our money, we already fulfilled your requirement to trap our $ insai your MA and SA limit. The rest should gib back to us to cope with higher cost of living

Do you agree?

Didn't they oredi fly the simi "national savings" test balloon where the CPF and associated funds fall under "national savings"? Why nid 2 change name unless there ish some legal nid for it? Legal terms and English mean very different things.

 

[decade]

they will nvr agree cos lesser capital for gambling queen to gamble

 

[SaGu]

they will nvr agree cos lesser capital for gambling queen to gamble

sagu wonder who is your gambling queen?


#saguwisdom

 

[tExtra]

You wait. If more peepur maxing out informs them Sinkies are more well off. After a certain percentage of Sinkies maxed out, they will increase annual BHS ceiling and your medical expenses.

#oncealeekforeveraleek #hengonghuatah

 

[mutare ad melius]

If your MA (medisave account) is max-ed out at BHS (basic healthcare sum), the allocation to MA is transferred to SA (special account).
If you both your MA and SA are max-ed out, the allocation to MA is transferred to OA.

But I think should not be transferred to OA, it should be refunded to us in cash. It is our money, we already fulfilled your requirement to trap our $ insai your MA and SA limit. The rest should gib back to us to cope with higher cost of living

Do you agree?

Agree with most except for the line that says: "It is our money"

CPF money in all shapes and forms is, in my opinion, not our money.

 

[inmyopinion]

If your MA (medisave account) is max-ed out at BHS (basic healthcare sum), the allocation to MA is transferred to SA (special account).
If you both your MA and SA are max-ed out, the allocation to MA is transferred to OA.

But I think should not be transferred to OA, it should be refunded to us in cash. It is our money, we already fulfilled your requirement to trap our $ insai your MA and SA limit. The rest should gib back to us to cope with higher cost of living

Do you agree?

Later Gov reminds you that they top up your MA
- assurance package MA top up, PG medisave top up, matched medisave scheme, one time medisave bonus..

And now Gov says healthcare costs is going up and up and up..

 

[stingray1211]

Mai lah . come out as cash is taxable..

EDMW salary all paying 20% and above rate.
tax savings better.
if not every dollar that comes out , I only take $0.80


Read HWZ Forum Rules!

 

[sAVaGEmP5]

If u need money, u shld not draw from ma oa etc cpf. U shld go Skillsfutures to learn n do side gig.

And if u really alot of cpf, u shld ask to unlock ma limits so tat mpre monies can flow into ma.

This can be done by reviewing the current list of expenses it can be used to offset, or to reduce certain subsidies ao that it can justify increasing ma.

Thank u ts for opening a new can of worms n give cpf ppl new ideals for their next yr improvement.

 

[stingray1211]

Agree with most except for the line that says: "It is our money"
CPF money in all shapes and forms is, in my opinion, not our money.

so you won't use CPF to buy house , pay for house , pay insurance, enjoy the tax relief from cpf contribution, at 55 withdraw or 65.cpf life ?

don't talk like a hypocrite leh ..


Read HWZ Forum Rules!

 

[newborn1000]

yeah.. I always envy those people in the market bragging that they are staying in $50 -$100 monthly HDB subsidized flat.

What type of market?

 

[grevq80o]

so you won't use CPF to buy house , pay for house , pay insurance, enjoy the tax relief from cpf contribution, at 55 withdraw or 65.cpf life ?

don't talk like a hypocrite leh ..


Read HWZ Forum Rules!

I rather use cash to pay my mortgage than CPF. Use CPf must payback simi accrued interest. Pui!

 

[grevq80o]

When can take out MA? If already max. Need to wait till 65?

You must be quite young ... MA can never take out one... You can leave it as inheritance to your nominated beneficiary.. at least they take out in cash, and not go into MA.

 

[grevq80o]

I think can continue to let the MA overflow go into OA but mark that portion as withdrawable. So u have the option to retain in OA or withdraw as cash.

Your solution give CPF more work and more confusing to CPF member/slave.... CPF refund you as cash, then you can do voluntary contribution - VC is already established in CPF system liao.