10 THINGS ABOUT CPF THAT YOU MAY NOT KNOW OF (Edition 2024) | Retirement Planning Singapore
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- เผยแพร่เมื่อ 22 พ.ค. 2024
- Today you'd hear about 10 things about CPF that you may not know of. It covers topics on "free" CPF given to you, CPF investments and new CPF changes.
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0:00 Introduction
0:23 Item 1
1:17 Item 2
2:50 Item 3
4:57 Item 4
6:41 Item 5
7:46 Item 6
9:38 Item 7
10:30 Item 8
11:47 Item 9
13:40 item 10 CPF life not guaranteed
#cpf #cpfinvesting #cpfchanges #cpflife
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My article article on CPF nomination: www.theastuteparent.com/2021/06/cpf-nomination-online/
DBS article on investing in T-bills with CPF www.dbs.com.sg/personal/articles/nav/investing/investing-in-t-bills
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Unfortunately when we old & die we still can’t draw out &$$..there’s always balance left for next of kin or return to government if u single hood. Either way,,that means all the last few decades we work hard for $$$ that is belong to government..not us..now I general most elderly don’t speak much because no cash on hand..just a can’t cash out Pty if they still living in it..
wah 30% cannot reach BRS. dats like alot. hope govt policies can help them abit. the rest of us help ourselves. dun be too stingy scrimp all in cpf, also dun be spendthrift yolo-ing.
What is included in regrossed balance? OA + SA + MA + RA?
Yes all accounts. Includes interest earned. Does not factor withdrawn amounts like in OA for home
What happens to the interest earned in MA after 65 when BHS is met?
It will also flow if MA is at BHS. On 31dec
@@joshconsultancy thanks!
At 8:00. How could someone accumulate more than 300K in special account? isnt there a cap?
This is exactly explained. Cap only applies to MA.
SA limit is for topping up. Employment income continues in limitless
thanks for sharing! great video there!! @@joshconsultancy
1st?
Big thank you :)
Hi Josh
May I ask you a question,?
CPF life payout are not guaranteed unlike Annuity plan with Private insurers?
Does it mean if I buy annuity plan with private insurer, the payout is guaranteed.
IF yes, do you know of any Pte Insurer who sells Annuity plan?
Thanks
Yes you’d see a guarantee + non guarantee component in an annuity. Main difference is you can loan out or surrender policy for lump sum back.
To enquire for fee based retirement planning do email to Josh.tan@promiseland.com.sg
You will lose out big time if you borrow from your policies or worse still, surrender them
Item 11 - "CPF has an Enhanced Nomination Scheme that allows you to transfer your CPF monies to your nominees’ CPF account upon your demise. This is as compared to the default cash option, i.e. your nominees receive your CPF monies in cash."
So u can secure their retirement / healthcare needs upon yr demise instead of them getting your CPF monies in cash & spending it all lol
Oh man, just pass to them as cash lol
That's s good feature
Point.10 , you scare me by saying CPF LIFE is not guaranteed.
cannot say like that.
You should say the projected amount of CPF LIFE PAYOUT is not guaranteed subject to then RA interest rate and members mortality rate.
Not that there will be losses but It’s exactly in the first sentence of the screenshot from cpf. Cpf life payouts are not guaranteed 😅