Frustrating looking at the $$ in special account and cannot touch any suggestion what to do...
Frustrating looking at the $$ in special account and cannot touch any suggestion what to do...
In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...
Originally Posted by radha08
dont look. coz its special.
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aiyo frustrating looking at it...see NO touchOriginally Posted by minority
In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...
Thats why its SA. Silently Accumulating , you cannot use but in the meantime what happen to the money? what you see is just a number.Originally Posted by radha08
ya i kind of realize thatOriginally Posted by latour
In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...
It is reserved for you to buy a GOLDEN coffin, cannot touched! Otherwise you have no Coffin! Remember to set aside GST for coffin!
Originally Posted by radha08
sit and suck thumb. that's for Temasek and GIC to squander off in some stupid investment again.
Annual deposit for SRS does not go into SA?
Originally Posted by radha08
Aiyah is a force saving. with interest. take it as long term fix deposit.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
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No. SRS is even worse, you cannot touch it out until 62(65 now?).Originally Posted by DC33_2008
but, you can use it to buy shares.
Good question! What is SA for har??? Asked so many ppl with no answer!Originally Posted by radha08
Some more when your MA hits the ceiling, the spillover of the monthly contribution will go to SA. Yes, Silently Accumulating .....
Always wonder what can we do with it (SA) during when we are ALIVE .... die also cannot spell it
The money is for our next of kin or nominee when we pass on.
is the monies given in cash to the nominee or merely transferred to the nominee's CPF account?Originally Posted by Dragonfly
Ya, agree. All the older folks say SA and MA is for coffin.
Anyway, don't take it out. No point. 5% interest is pretty high and is guaranteed. Just relax, earn interest, hope Singapore do well in the next 20-30 years and enjoy your CPF LIFE.
Originally Posted by teddybear
SA can take out cash (presently), MA transfer to nominee's CPF MA acOriginally Posted by eng81157
It is for your retirement.
After the age of 65 (they might raise it to 70, 75, 80 or 100 , who knows), you can start drawing a monthly annuity called CPF LIFE.
So at the age of 55 or 60 (can't remember), they will pool your remaining OA + SA into CPF LIFE. This CPF LIFE will last you for your entire life. So if you live until 200 years old, good for you. If you die young, then too bad. Whatever that is unused, your family will get the remaining back lor (depends on the plan you choose also).
Originally Posted by mkmm
Originally Posted by lionhill
can take out wat.. 5% penalty . but u get tax off. so u want something u have to give something. no free lunch.
It do help people plan for tax. the middle income folks who want to defer some tax. and invest .
Thus its call retirement saving ba.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
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I called up cpf and they said assuming you have more than 70K in SA, you can pledge using your property and the sum in excess of 70K can be used for property. So if you have 100K in SA, you can use 30K for property. Correct?
Too good to be true.Originally Posted by proxon
Send more opposition into parliament next election to fight for your money. No point putting money in useless cpfOriginally Posted by radha08
i think u made a mistake ... like that our property price will be 20% higher ... many ppl at age of 40 their CPF SA already > 139k (CPF SA min sum) still cannot touchOriginally Posted by proxon
Ride at your own risk !!!
http://www.fundsupermart.com/main/re...ndedFunds.svdo
CPFIS-SA
CPFIS-SA Approved - Asia Balanced
First State Bridge (C,O,S) (Risk Rating 6)
View Fund Writeup
View Fact Sheet
- Strong, consistent performer
- Resilient in weak markets, aided by allocation to fixed income
- Suitable for investors seeking exposure to both Asian equities and fixed income in a single fund
CPFIS-SA Approved - Global Balanced
Schroder Multi-Asset Revolution Cl A (C,O,S) (Risk Rating 6)
View Fund Writeup
View Fact Sheet
- Best-performing in its category on various performance metrics; also outperformed benchmark since fund restructured in 2006
- Multi-asset approach
- May appeal to investors seeking a highly-diversified fund, with exposure to various asset classes
"In general, if you have a personal annuity or a pension that provides a higher payout than from CPF LIFE, you need not be placed on CPF LIFE."
http://mycpf.cpf.gov.sg/NR/rdonlyres/09EA0C05-C8E9-4705-9D91-E8BD1D12CF1E/0/LIFEBrochure.pdf
So if you buy a private annuity paying something like S$1.5K per month, you can take out all your CPF SA money at age 55. (Check with CPF Board to see whether you annuity is considered as sufficient.)
Hmm. The example I gave was what the person from cpf told me. Perhaps I understood wrongly. What about those that hit the age of 55? They only need to keep half of minimum sum and can withdraw the rest. Does it mean they can take out everything except 50% min. sum and medisave? In that case, anyone with say 200K SA can withdraw approx. 130K upon reaching 55. They can then use the 130K for anything. This is also what I heard from cpf and perhaps I may have misunderstood this as well?Originally Posted by phantom_opera
i thought your SA min sum will be auto commit to annuity .. do they give any choice at all?? I am more than happy to have a choice in that caseOriginally Posted by proxon
Ride at your own risk !!!
I guess it is when ur combined SA + OA > 50% of the required min Sum. U can draw the money out from OA account for ur 2nd property. So if u hv > 70k in SA but $0 in OA. U can't use it.Originally Posted by proxon
For 1st property, u can use full amount of OA.
SA cannot used to buy property.
Originally Posted by NorthernStar
I think I must have misunderstood then. From several responses here, I think the bottomline is SA cannot be used.
Does anyone by chance withdrew your cpf in excess of 50% of minimum sum upon reaching 55? Can share whether it's true that you can take out everything (including SA) in cash except leaving behind 50% minimum sum and medisave?
Yes, they told me minimum sum is auto commit to annuity but I am referring to the excess of minimum sum. Regardless, the responses here indicate that regardless of minimum sum, SA cannot be used for 2nd prop.Originally Posted by phantom_opera
aiyo, all private ones will peg to CPF Life, back to square one, all very lousy return!
Originally Posted by richwang