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CPF Medisave Amount raised

Mllcg

By Mllcg,
in Investment & Financial Matters

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Evillusion

Evillusion

Supersonic
  On 12/21/2012 at 7:19 AM, Vextan said:

I thought now the Medisave minimum sum is $43k ?

haha...mine was 38 ks last yr....reached it but then they increases to 43ks.....nabbey...like that how to reached ceiling siak. But one thing oso good...reached ceiling all medisave contribution will go to Special Account That one bigger blackhole. Suck money soo much but cannot comeout wan. My SA already reaching the same amount of my MA!

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Jman888

Jman888

Moderator
  On 12/21/2012 at 7:19 AM, Cars08 said:

No need 50s lah...most ppl that cross 30 or so depending on their income will already have higher than this amount by now....tot the contribution ceiling is $43,500 and every year they will adjust to keep to inflation...

 

 

no lah, there is a cab on the amount even if you make $100K a month, so if you are making $5K a month (cab amount), it will probably take 10 years to accumulate to $38K.

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Vextan

Vextan

1st Gear
  On 12/21/2012 at 7:29 AM, Eviilusion said:

haha...mine was 38 ks last yr....reached it but then they increases to 43ks.....nabbey...like that how to reached ceiling siak. But one thing oso good...reached ceiling all medisave contribution will go to Special Account That one bigger blackhole. Suck money soo much but cannot comeout wan. My SA already reaching the same amount of my MA!

i thought i read that once medisave reach limit the excess will go to ordinary account, not special account, no ? or i am wrong.

 

anyway side track a bit, i think the 2.5% int rate for cpf account (1% extra for first 60k) is quite good. but if only we can withdraw full sum at age 55 .

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Wt_know

Wt_know

Supersonic
(edited)

which means the ah pek hanging around in chinatown has less $6500 to be withdrawn from MA to party with china mei mei ... that's to shout about ... wahahaha

 

on another scenario, the $6500 could be the ah pek pocket money for 13 months x $500 ... now can say bye bye and remain in MA liao

 

  On 12/21/2012 at 7:12 AM, Jman888 said:

by what age that you must have $38,500 in the medisave account? at 55 or 62?

 

i am sure most will probably accumulate that amount in their 50s, so what is there to shout about? :huh:

Edited by Wt_know
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Evillusion

Evillusion

Supersonic
  On 12/21/2012 at 7:31 AM, Vextan said:

i thought i read that once medisave reach limit the excess will go to ordinary account, not special account, no ? or i am wrong.

 

anyway side track a bit, i think the 2.5% int rate for cpf account (1% extra for first 60k) is quite good. but if only we can withdraw full sum at age 55 .

bad news for you boss.....If MA reached max the monthly contribution will go SA. A whopping 10% of your cpf contribution including employers contribution will end up in the 'blackhole'. [bigcry] [bigcry] [knife]

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Cars08

Cars08

1st Gear
  On 12/21/2012 at 7:29 AM, Jman888 said:

no lah, there is a cab on the amount even if you make $100K a month, so if you are making $5K a month (cab amount), it will probably take 10 years to accumulate to $38K.

5K cab to salary....bonus and AWS different ballgame... ^_^

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Cars08

Cars08

1st Gear
  On 12/21/2012 at 7:39 AM, Eviilusion said:

bad news for you boss.....If MA reached max the monthly contribution will go SA. A whopping 10% of your cpf contribution including employers contribution will end up in the 'blackhole'. [bigcry] [bigcry] [knife]

Yup...this piss me off....cant even touch it at all....NB :angry:

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Vextan

Vextan

1st Gear
  On 12/21/2012 at 7:39 AM, Eviilusion said:

bad news for you boss.....If MA reached max the monthly contribution will go SA. A whopping 10% of your cpf contribution including employers contribution will end up in the 'blackhole'. [bigcry] [bigcry] [knife]

sound like bad indeed as i understand sa is for retirement account or something like that. and every month take like more than five hundred dollars until death do us part. i cannot imagine living on less than one k per month seriously. must do part time job to supplement.

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Vextan

Vextan

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few years ago a colleage of mine reached cpf withdrawal age he withdrew a large sum of a few hundred k, and bought a chevrolet cruz at 70k in cash. as i understand he never touched his cpf for housing at all and has accumulated his cpf over his entire career. but not everyone is as fortunate like him i guess.

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Cars08

Cars08

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post-49330-1356076419_thumb.png

  On 12/21/2012 at 7:46 AM, Mazdaowner said:

either way its LPPL suck thumb for us. <_<

Hence use up CPF ordinary buy house....use medisave buy insurance but max...$800 only...the rest jus watch it grow...

 

 

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Cars08

Cars08

1st Gear
  On 12/21/2012 at 7:51 AM, Vextan said:

few years ago a colleage of mine reached cpf withdrawal age he withdrew a large sum of a few hundred k, and bought a chevrolet cruz at 70k in cash. as i understand he never touched his cpf for housing at all and has accumulated his cpf over his entire career. but not everyone is as fortunate like him i guess.

a....give up citizenship...can withdraw in full rite? [lipsrsealed]

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Jman888

Jman888

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  On 12/21/2012 at 7:51 AM, Vextan said:

few years ago a colleage of mine reached cpf withdrawal age he withdrew a large sum of a few hundred k, and bought a chevrolet cruz at 70k in cash. as i understand he never touched his cpf for housing at all and has accumulated his cpf over his entire career. but not everyone is as fortunate like him i guess.

 

 

if sell the car now, can still make some money [laugh] [laugh]

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Mazdaowner

Mazdaowner

Moderator
  On 12/21/2012 at 7:53 AM, Cars08 said:

Hence use up CPF ordinary buy house....use medisave buy insurance but max...$800 only...the rest jus watch it grow...

 

Growth is paper growth, cannot touch, and if ever need to use, also restricted, as good as not having it, WTF.

I'm not the least bothered, because sometime down, the sheet is going to come out that the MIN age for withdrawal

IS CHANGED again, siting the same reason that we are living LONGER. (WHen so man drop dead all of a sudden, and

hey, who gets all their CPF? Transfer to son, down down down the bloody line with no sign of light at the tunnel!)

 

Every bloody month draw out a small amount, what about those drawing civil salaries in the millions yet pay $1 for some

surgery? We all can talk till the cows come home, the sheep get slaughtered, the hens get raped. Is there going to be any difference?

 

 

Nah...even all the bullsheet of Vote wisely, 201X vote this a new change, utter rubbish, all boh lam pah, talk big.

I'm in a state of mind, live out my life contented, make do with how bad a situation and STFU. -_-

 

You say wah kong tio boh tio?

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Vextan

Vextan

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I agreed with someone in mcf who said that in the near future, how well off a person is much depends on how much he inherit from parents.

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