mp4005 help
Arch-Supremacy Member
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- Apr 29, 2010
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I just play around with this calculator. I assume I am 55 today (it doesn’t work if u r not at least 55). Entered RA at $300,000.
Age 65: $1,880
Age 85: $2,800
Age 95: $3,410
At age 65, I would like to join CPF life at $445,000 (don’t know what this means).
But to summarise, this looks freaking pathetic. Probably enough to pay for medication if I get any chronic diseases.
For me, I think best to have 1-2 solid property then rent out and be king in Bali. Rather than stay here with simi CPF life. Even with $300,000 RA also get this kind of monthly payout.
$300k but based on this . total payout is $800k to 900k+ ?
not good enough?
can always buy another private tool with cash to provide you what you want. see whether it is more worth it.
you don't need CPF life - you can buy your own private retirement tool.
you can withdraw your CPF out.
https://www.cpf.gov.sg/member/retirement-income/monthly-payouts/cpf-life/exemption-from-cpf-life
If you have a pension or private annuity plan which provides the same or higher monthly payouts for life, you can apply to be exempted from setting aside the retirement sum, and withdraw all your CPF retirement savings.
You’re eligible to withdraw all your retirement savings if you’re:
- 55 and above
- Receiving monthly payouts from a private annuity (bought with cash or under the CPF Investment Scheme) or pension
- Both the policy holder and sole insured person of the annuity policy