Withdrawal from CPF at 55

[~sabaisabai~]

Correct me if I am wrong but opt for BRS is when you cannot meet FRS. So if you can meet FRS and want to go for BRS don't think it is allowed. CPF not stupid. Now for your case you can fulfill FRS but purposely opt for BRS or really cannot fulfill FRS?

can do SA shielding?

 

[henrylbh]

I am planning to opt for the BRS option by pledging my property at 55.

After setting aside the amount for BRS, do I have to withdraw the remaining from CPF account as a lump sum or can I let them continue to be in my SA account to earn the interest and just withdraw $2-3k each month for my expenses? If yes, can this continue until the end of life?

If have to withdraw as lump sum as 55, what would be a good option to save the money in (might be at about 300-400k)? T-bills? Or FD?

TIA

You only opt for BRS after RA is formed from SA followed by OA. If you opt for BRS, you can only draw from RA up to the eligible amount above BRS at any time and in any amount.

 

[henrylbh]

Correct me if I am wrong but opt for BRS is when you cannot meet FRS. So if you can meet FRS and want to go for BRS don't think it is allowed. CPF not stupid. Now for your case you can fulfill FRS but purposely opt for BRS or really cannot fulfill FRS?

Cannot understand what you are saying. If cannot meet FRS, it means zero balance in SA and OA, (excluding amount invested or $5,000 that left for withdrawal) and it doesn't matter what's left in RA. If there is enough in RA, then you can opt for BRS to withdraw amount above BRS.

 

[starlight318]

How to estimate the CPF life payouts in future? CpF website only has estimates for ppl reaching 55. Let say if I go for FRS, basic plan and start payout at age 70

Payouts will come from RA first until RA depleted then will start paying from the CPF life pool? I calculated using a spreadsheet n assume RA depleted by 90 is it a good estimate? I'm using 20% as premium that goes to the pool

 

[BBCWatcher]

How to estimate the CPF life payouts in future? CpF website only has estimates for ppl reaching 55. Let say if I go for FRS, basic plan and start payout at age 70

Pretend you're age 55 now and then run the numbers. You'll have to take a guess what your age 55 Full Retirement Sum will be, but as a reasonable choice you can take this year's FRS and increase it by 3% per year.