Biggest CPF Misconception - How Much Can You Withdrawal From CPF at 55?
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- Опубликовано: 11 окт 2024
- This video sought to clarify the biggest and most common misconception people often have about CPF. It addresses the question of when is the earliest we can start to withdraw from CPF and how much exactly can we withdraw based on existing CPF policy.
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This is super useful. As no others is trying to explain this simple concept in an easy word
One thing I want to clarify is that the Prevailing FRS for 2023 is abt 198K, it will fluctuate yearly depending on inflation / economic situations. Based on the estimation of 3.5% increase, FRS will be 400K by the time I reach 55y/o in 20years time. Am I right on this theory?
Yes, u are absolutely right!
@investingtoolkits6053 thanks for replying. Continue making these videos. They are very informative and you make it very easy to understand.
Ya for low income people, that simply means to work yourself until you expired then your beneficiaries will have the fruit of your labour.. great equality
not all to beneficiaries .the interest will still go back to ah gong.
Can we leave it there in RA until 65 ?
Why make it so complicating? Ya sounds easy for those highly paid personal.....what about those who are unable/unfit to work, long-term jobless and low income workers?
It's definitely not easy. And not a one-size fits-all solution.
Hi,
How to know if I’m eligible to pledge my property?
If 55, pledge house at BRS, Still Have P+I to repay, would i be required to top back the P+I if i sell my house ? or just have to top back up to FRS only ?
Yes, maximise the cash out... we nv know what steps pap will take... like what they did not to allow full withdrawal at 55 by implementing the BRS....
Very complicated
Look out for the next video with examples.
Very informative. TQ. If by 55, we manage to set aside FRS, can we withdraw money from MA?
Is there anyway to withdraw MA (not for medical purpose) during I m still alive? Or it can be only leave to our beneficiary after we pass away?
You are right, MA is a bucket which cannot touch even if we hit FRS. MA strictly for medical use. Yes, when we pass on then the balance will go to our beneficiaries. Thanks!
would your reserved amount (i.e. RSTU top-ups + interests earned) be more than your FRS? If yes, can the amount above FRS be withdraw at age 55?
I think it will be very hard for reserved amount to be higher than FRS. In any case, regardless of reserve amount, anything above FRS can be withdrawn.
Agree with maximizing the cash out. It’s our money after all.. Muz enjoy our hard earned money..u never know what will happen at 65yr old.. too late to regret by then.. not worth the wait
Thanks for video explanation.
BTW, OA to SA transfers will not be classified under reserved amount and thus can be withdrawn anytime after 55 (assuming FRS is met or BRS + property pledged) correct?
Reserved amount is e cash u top up in RSTU.
S
I think you mean "less", not "lesser".