CPF Balances Update – January 2021

It is the end of January with all mandatory contributions in for the month.

OA to SA transfer for the month of January is also completed. SA balance currently stands at $122,679.68, more than half of 2021 FRS or 66.0% of the journey.

CPF Interests Update – For 2020

1st Jan, 5am in the morning. Wake up, get a cup of coffee and turn on the computer. Wala, interest from CPF savings and contributions over the past year is in. Last year around this time, I also shared on my CPF Interests Update – For 2019.

Ended off Dec 2020 hardly 2 days ago at:

OASAMA
Dec 20$0 $114,913.95 $60,000.00
Interests$0$4,793.00$2,372.72
*Expected*
Interests
$0$7,165.72$0

The interests for 2020 stands at $7,165.72, up from $5,486.96 for 2019.

The MA cap up to 31 Dec 2020 was $60,000. Revision for MA cap to $63,000 begins on 01 Jan 2021. Therefore, the interests earned for MA account for 2020 would overflow to SA. The overflow will be rightfully corrected later on in the day.

SA balance currently stands at $122,079.67, more than half of 2021 FRS or 65.6% of the journey.

*2021 FRS is $186,000 (up from $181,000 in 2020)