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10-07-2014, 01:55 PM
(This post was last modified: 10-07-2014, 01:57 PM by sgd.)
I remember there was an article in the newspaper some years ago, this guy in his 20's transfer money from OA to SA he said the 4% interest is only paid for upto 250k. I can't find anywhere in cpf faq which still says this or whether this has changed or not.
but consider transfer to SA is irreversible you cannot take it out until retirement at 55yo and after that only excess of the minimum sum combined of oa+sa.
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10-07-2014, 02:06 PM
(This post was last modified: 10-07-2014, 02:08 PM by egghead.)
It's a good idea to max out SA as early as possible after setting aside what you need in OA for property payments. I didn't have to bother about the increasing minimum sum because my annual SA interest earned exceeds the annual increment in MS.
One thing to note - once you hit the MA ceiling, whatever excess will be transferred first to your SA; and if you SA is also more than the MS, then it will be transferred to your OA. For SA, even if you exceed the MS, it does not get transferred out to OA - which is good as more of your funds can earn 4%.
I'm not aware of the $250k though.
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Do take note that the extra u earn is 1.5%. For this do u want to get your OA money stucked for life? I think u should wait till 2016 to decide. Who knows gov may increase the OA interest in order to please the group sitting on the fence.
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(10-07-2014, 02:06 PM)egghead Wrote: It's a good idea to max out SA as early as possible after setting aside what you need in OA for property payments. I didn't have to bother about the increasing minimum sum because my annual SA interest earned exceeds the annual increment in MS.
One thing to note - once you hit the MA ceiling, whatever excess will be transferred first to your SA; and if you SA is also more than the MS, then it will be transferred to your OA. For SA, even if you exceed the MS, it does not get transferred out to OA - which is good as more of your funds can earn 4%.
I'm not aware of the $250k though.
Qn: Once u hit the MS limit, the only ways to increase SA are interest earned and CPF Contribution (SA component)??
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"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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10-07-2014, 03:34 PM
(This post was last modified: 10-07-2014, 03:35 PM by brattzz.)
4%??!!!
where got enough to beat inflation??? come on, take the money and invest invest invest!
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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