It is the end of November with all mandatory contributions in for the month. OA to SA transfer for the month of November is also completed. SA balance currently stands at $111,404.04, more than half of 2020 FRS or 61.5% of the journey.
I wanted to strengthen my understanding as well as my readers’ on CPF lump sum withdrawal from age 55 after my last post on whether you can withdraw ALL excess money from your CPF SA / OA account after meeting FRS / BRS. Some questions got me thinking, but I thought that just thinking ain’t goingContinue reading “Withdrawals of CPF savings from 55 — How much can you withdraw from your CPF SA / OA / RA Scenarios”
Within the family, you don’t actually need to be very savvy with financial-related or investment-related matters to be constantly bombarded with queries. You just need to have that delta, above and beyond which you automatically become the guru in the family. I was just kidding. Jokes aside, I really enjoy looking at statements and seeContinue reading “Maximising your family members CPF contribution”
No, this is not about your CPF Retirement Sum. But really, the amount of money you need for your retirement. Some of us have a fuzzy idea of the amount that we need. When we work backwards, it translate into fuzzy numbers that we need to save or invest each month. Retirement fuzzy logic. TheContinue reading “What is your Retirement Sum?”
A common misconception by many Singaporeans is regarding the Retirement Sum set aside in their Retirement Account (RA) versus what they “should be proportionately getting” in their monthly payouts. There are three levels of Retirement Sum: The Full Retirement Sum (FRS) is two times the Basic Retirement Sum (BRS), and the Enhanced Retirement Sum (ERS)Continue reading “Why are CPF LIFE monthly payouts for BRS, FRS and ERS not proportional?”