TM Retirement Gio

[maple96]

Thks, but No withdrawal allowed from RA at age 65 right?

Yes better to topup to ERS (timing of topup is important but will not elaborate here) plus choose Basic Plan plus start payout at 65. (this is my choice)

your question on withdrawal at 65 is posted in another thread, will provide answer there.

 

[foozgarden]

Xirr is actually lower for ers than frs.
Iirc, brs is the highest.

If we are looking purely at xirr.

Yes and no.

Once you max out ERS, you have to go private if you want more.

 

[henrylbh]

Xirr is actually lower for ers than frs.
Iirc, brs is the highest.

If we are looking purely at xirr.

Xirr no use. More important is how long you can live to collect payouts.

 

[maple96]

Agree u cannot use xirr to measure cpf life, by amt! Useless to make your decision based on it.

 

[rrr2015]

can share how to topup ERS to maximize benefits or at least a tip or two? TIA!

Yes better to topup to ERS (timing of topup is important but will not elaborate here) plus choose Basic Plan plus start payout at 65. (this is my choice)
.

 

[henrylbh]

can share how to topup ERS to maximize benefits or at least a tip or two? TIA!

ERS only for those age 55 and above.

 

[rrr2015]

yes i know but hope to know more about ERS topup for planning purpose

for now, i anticipate will spend more between 55 ~ 65. after 65 will start to slow down. so don't see the point higher payout after 65.

ERS only for those age 55 and above.

 

[henrylbh]

yes i know but hope to know more about ERS topup for planning purpose

for now, i anticipate will spend more between 55 ~ 65. after 65 will start to slow down. so don't see the point higher payout after 65.

What planning is there if you going for ERS anytime from 55? Whatever in ERS to go towards a higher life payouts. And all of ERS or 10% to 20% will go into LIF depending on the plan chosen. Not sure whether ERS top-ups can don't go into CPF Life.

Top-ups after payout commences will remain in RA (i.e. will not automatically go into CPF Life) with options of buying additional life annuity or getting additional payouts (till top-ups exhaust). Not sure whether the top-ups can be left in RA (as bequest) without any action.

 

[rrr2015]

i mean for now, i don't plan for ERS since payout will only commence from 65 onwards right? i think i will spend more between 55 ~ 65 & slowing down after 65

also i understand we can decide BRS, FRS, ERS at 65?
and if i decide ERS later, will there be difference if i topup at 55 vs 65?

What planning is there if you going for ERS anytime from 55? Whatever in ERS to go towards a higher life payouts. And all of ERS or 10% to 20% will go into LIF depending on the plan chosen. Not sure whether ERS top-ups can don't go into CPF Life.

Top-ups after payout commences will remain in RA (i.e. will not automatically go into CPF Life) with options of buying additional life annuity or getting additional payouts (till top-ups exhaust). Not sure whether the top-ups can be left in RA (as bequest) without any action.

 

[henrylbh]

i mean for now, i don't plan for ERS since payout will only commence from 65 onwards right? i think i will spend more between 55 ~ 65 & slowing down after 65

also i understand we can decide BRS, FRS, ERS at 65?
and if i decide ERS later, will there be difference if i topup at 55 vs 65?

Of course there will a difference in payout based on topping up to ERS at 55 vs 65 as your RA balance at say 65 will be more due to interest earned from the time of the topping up at 55.

 

[rrr2015]

thanks! after further reading, seems like at 65 we will decide basic, standard or escalating plan

so whatever topup into RA for ERS can't be clawback at 65?

Of course there will a difference in payout based on topping up to ERS at 55 vs 65 as your RA balance at say 65 will be more due to interest earned from the time of the topping up at 55.

 

[henrylbh]

thanks! after further reading, seems like at 65 we will decide basic, standard or escalating plan

so whatever topup into RA for ERS can't be clawback at 65?

No, you have up to 70 to decide basic, standard or escalating.

Can top up RA to ERS anytime from age 55.

Anytime from 55, you can opt for BRS and take out half of FRS with sufficient property pledge/charge.

Even if you have no intention to have more than FRS going into CPF Life, it seems good to top up RA to ERS and then take out half of FRS by opting for BRS before CPF Life starts. Only the interest earned can't be taken out, but it will enhance your life payout.

 

[rrr2015]

thanks so much, good idea!
so topup ERS & opt for BRS before CPF life, i can take out half FRS? Not amount above BRS?

No, you have up to 70 to decide basic, standard or escalating.

Can top up RA to ERS anytime from age 55.

Anytime from 55, you can opt for BRS and take out half of FRS with sufficient property pledge/charge.

Even if you have no intention to have more than FRS going into CPF Life, it seems good to top up RA to ERS and then take out half of FRS by opting for BRS before CPF Life starts. Only the interest earned can't be taken out, but it will enhance your life payout.