Dear CPF: Give Me Back My Money!

[Angcheek]

 

 

It was also interest free for me. Think they only start charging interest 1 year after graduation.

 

 

U study which course ? 

[Angcheek]

Same as me. Not so ancient times lah. Mine was in the late 90s.

 

Interest free study loan until you graduate, then slowly pay back with salary.

 

That's why we are not so choosy about jobs, just work first and pay off the debt. In my case, luckily in my final year, signed a bond, then the company kindly paid off a portion of my study loan. And I did not have to bother with resumé writing and attending interviews

 

In SG, when it comes to education, so many avenues available, no excuse of being unable to pay for studies. Plus no quota discrimination and is by merit based selection - we already have it very good compared to situation in our regional neighbours.

 

Then again, we are talking about univ. This recent case involved the kid want to study at nafa.

 

 

So you  younger than me    But u smarter and luckier than me ...  got co signed bond w you. 

the only bond I got was SM    

 

If I rem correctly , I hunted for 3 mths , got 2 offers. Got 1 interview really funny , 7 vs me . 

[Kusje]

U study which course ?

Don't say la.

 

Later will be paiseh since my course cannot make 500k per year. Will be a net liability to society one.

[Angcheek]

Don't say la.

 

Later will be paiseh since my course cannot make 500k per year. Will be a net liability to society one.

Almost any course can earn u 500k ... all depend on ur fate n luck

[Kusje]

Almost any course can earn u 500k ... all depend on ur fate n luck

[Angcheek]

orh. then I shall blame my fate and luck  

 

I grad from TOTO w first class hon  , also no luck 

[GlennToh]

I everyday buy $1 Toto and pray for fate and luck.... nothing happen yet :(

[Wt_know]

if one intend to withdraw all CPF$ at 55 minus MS ...

is there any need to do “cpf sa shielding”?

https://toc.net/2019/10/20/cpf-sa-shielding-before-ra-is-formed-at-age-55/

Edited October 20, 2019 by Wt_know

[Ct3833]

36 minutes ago, Wt_know said:

if one intend to withdraw all CPF$ at 55 minus MS ...

is there any need to do “cpf sa shielding”?

https://toc.net/2019/10/20/cpf-sa-shielding-before-ra-is-formed-at-age-55/

The purpose of shielding is to move as much of your money from OA acct which is only 2.5%PA to  RA while keeping your 4%PA RA money intact, if one intend to withdraw all of  his CPF after 55, then there is no need to do shielding. 

[Wt_know]

got it ... thanks

also found a reply in hwz ...

[Ct3833]

The CPF Board announced in a joint new release with HDB on Nov. 19 that the current sum of S$57,200 will be raised to S$60,000.

https://mothership.sg/2019/11/basic-healthcare-sum-increase-cpf-medisave/

Edited November 20, 2019 by Ct3833

[Throttle2]

On 11/20/2019 at 10:34 PM, Ct3833 said:

The CPF Board announced in a joint new release with HDB on Nov. 19 that the current sum of S$57,200 will be raised to S$60,000.

https://mothership.sg/2019/11/basic-healthcare-sum-increase-cpf-medisave/

Huat!

[Wt_know]

quick question:

at 55, RA account is created with $$$ funneled from OA + SA

assuming at 55, RA meets min sum (BRS with no hdb pledge), MA meets ceiling swee swee

at 55, withdraw every single dollar out from cpf ... emptied the entire cpf act

at 56, sell HDB (fully paid), $400K goes back to CPF which include accrued interest

can withdraw the full sum $400K at 56 and YOLO?

Edited December 26, 2019 by Wt_know

[Nautilus]

1 hour ago, Wt_know said:

quick question:

at 55, RA account is created with $$$ funneled from OA + SA

assuming at 55, RA meets min sum (BRS with no hdb pledge), MA meets ceiling swee swee

at 55, withdraw every single dollar out from cpf ... emptied the entire cpf act

at 56, sell HDB (fully paid), $400K goes back to CPF which include accrued interest

can withdraw the full sum $400K at 56 and YOLO?

Min sum is not BRS BUT FRS.

once you hit FRS, you can withdraw all monies from your OA. You can’t touch MA regardless as it’s technically not possible for it to exceed BHS due to overflow to SA/OA. 
 

In any case if $400k goes back into OA, best to leave it there to earn risk free 2.5% interest or top up to the ERS at 56 for maximum CPF life payout.

[Ct3833]

1 hour ago, Wt_know said:

quick question:

at 55, RA account is created with $$$ funneled from OA + SA

assuming at 55, RA meets min sum (BRS with no hdb pledge), MA meets ceiling swee swee

at 55, withdraw every single dollar out from cpf ... emptied the entire cpf act

at 56, sell HDB (fully paid), $400K goes back to CPF which include accrued interest

can withdraw the full sum $400K at 56 and YOLO?

Once you met the RA criteria, when you sell you HDB flat after 55, the money will go to you,  NOT your CPF OA, unless you specifically inform them to return the money back to your OA account. Like what @Nautilus said, it is best you keep your money in your OA to earn 2.5% interest. 

[Wt_know]

38 minutes ago, Ct3833 said:

Once you met the RA criteria, when you sell you HDB flat after 55, the money will go to you,  NOT your CPF OA, unless you specifically inform them to return the money back to your OA account. Like what @Nautilus said, it is best you keep your money in your OA to earn 2.5% interest. 

best if anytime anyhow suka suka can withdraw like a bank

even if must fill up form and wait several days   

Edited December 26, 2019 by Wt_know

[Fcw75]

2 minutes ago, Wt_know said:

best if anytime anyhow suka suka can withdraw like a bank

even if must fill up form and wait several days   

Actually nowadays CPF used PayNow to pay you if wish to withdraw. 

[Wt_know]

7 minutes ago, Fcw75 said:

Actually nowadays CPF used PayNow to pay you if wish to withdraw. 

awesome ...

Edited December 26, 2019 by Wt_know