Talking Point >>> Is your CPF enough for retirement?

[Throttle2]

11 minutes ago, Acewin said:

Got several zero 000000 missing behind leh.

I am talking about $5k monthly

[Angcheek]

7 hours ago, Ct3833 said:

She is a free rider..

Ohhh its a She ... 😅

[Ct3833]

15 minutes ago, Angcheek said:

Ohhh its a She ... 😅

You see,   she sits on the  motorcart until we dont even know who she is, or not even  knowing  she was there  yet she gets voted in, free rider or not ? 

Edited September 14, 2020 by Ct3833

[Angcheek]

2 hours ago, Kopites said:

Over the weekend top up my wifey SA. 😄

I told her retirement both of us sum up got 5k...to shake leg.

She said.."5k belong to her personal usage. ..I go find my retirement fund".😭

Not sure will they drop the INT for SA

[Angcheek]

4 minutes ago, Ct3833 said:

You see,   she sits on the  motorcart until we dont know even who she is, or even. Not knowing  she was there  yet she gets voted in, free rider or not ? 

yap frew rider ... somewhere she dropped her brain too 🤐🍻

[Kopites]

5 hours ago, Throttle2 said:

 

$5k for two people at 55 til 85 enough meh?

Actually I reckon should be enough for two person. 

We don't spend more than 2k on food per month for whole family currently.

😄

 

[Throttle2]

1 hour ago, Kopites said:

Actually I reckon should be enough for two person. 

We don't spend more than 2k on food per month for whole family currently.

😄

 

It not only food lah.

retire to enjoy life not to rot away mah

 

[Enye]

8 hours ago, Kopites said:

Over the weekend top up my wifey SA. 😄

I told her retirement both of us sum up got 5k...to shake leg.

She said.."5k belong to her personal usage. ..I go find my retirement fund".😭

wah... 5k for 2 persons from cpf life upon retirement?

you top up to ers for both of you izzit?

[Chongster]

For CPF, assuming you have more than the Enhanced Retirement Sum when reach 55, do you have to withdraw the excess out?  or can you still earn 2.5% in OA?

Edited September 14, 2020 by Chongster

[Wt_know]

25 minutes ago, Chongster said:

For CPF, assuming you have more than the Enhanced Retirement Sum when reach 55, do you have to withdraw the excess out?  or can you still earn 2.5% in OA?

yes ... after 55 you can keep all the “extra” in OA and suka suka withdraw $10K for ktv ...  

Edited September 14, 2020 by Wt_know

[Kopites]

2 hours ago, Enye said:

wah... 5k for 2 persons from cpf life upon retirement?

you top up to ers for both of you izzit?

Plan to do so.

Not now as the max at 181 for frs. Only when turn 55 than we can opt for ers.

 

[Kopites]

49 minutes ago, Chongster said:

For CPF, assuming you have more than the Enhanced Retirement Sum when reach 55, do you have to withdraw the excess out?  or can you still earn 2.5% in OA?

I read the max at 280 plus and Cpf won't allow any higher than this limit to be deposit into ers. I think can leave inside OA as saving? Not so sure.

I do know there is an exception where member can request cpf not to cease OA and maintain OA for finance of housing loan even after 55. 

Those without housing loan not so sure can still maintain OA or allow topping into OA after 55.

 

 

Edited September 14, 2020 by Kopites

[Kopites]

https://toc.net/2020/09/14/can-you-withdraw-all-excess-money-from-your-cpf-sa-oa-account-after-meeting-frs-brs/

Ok found this article that might be of interest to some here.

[SuPerBoRed]

On 9/14/2020 at 11:50 AM, Sdf4786k said:

taxable boh ? if oneshot take out everything.

Logically i think cannot... since CPF deduction is after taxable income.. ie .. tax one time liao ... watever is inside is your money... its not additional income u derived... 

 

but as i said... im still FAR away ...  ask the old birds here .. 😀

[Chongster]

https://www.providend.com/frequently-asked-questions-about-cpf/

this link not bad.  Answers a lot of my questions.  

[Mustank]

I love cpf

[Kopites]

36 minutes ago, Mustank said:

I love cpf

China Mei mei love them too.😄

[Didu]

19 hours ago, Kopites said:

I read the max at 280 plus and Cpf won't allow any higher than this limit to be deposit into ers. I think can leave inside OA as saving? Not so sure.

I do know there is an exception where member can request cpf not to cease OA and maintain OA for finance of housing loan even after 55. 

Those without housing loan not so sure can still maintain OA or allow topping into OA after 55.

The OA is still there after 55. For those who continue to work & receive monthly salary, a portion will still go into OA monthly. Then occasionally Govt wants to top up your CFP out of goodness of their heart, I think it'll go into OA too.