tag:blogger.com,1999:blog-3276688108456391559.post88745307393009615..comments2024-02-27T13:41:46.698+08:00Comments on SG Young Investment: Queries on CPF minimum sum - Pledging your propertySGYIhttp://www.blogger.com/profile/09445517891969740960noreply@blogger.comBlogger41125tag:blogger.com,1999:blog-3276688108456391559.post-67001657069737374892018-04-23T10:17:42.278+08:002018-04-23T10:17:42.278+08:00Hi,
If you have a property, you can just meet the...Hi,<br /><br />If you have a property, you can just meet the BRS and withdraw the rest. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-91211665780953955922018-04-22T16:01:41.446+08:002018-04-22T16:01:41.446+08:00it my brs 70,000 can I pledge my property to withd...it my brs 70,000 can I pledge my property to withdraw my retirement account at age 55Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-64808161059444524612018-01-18T12:18:04.962+08:002018-01-18T12:18:04.962+08:00Hi Zali,
If I'm not wrong, as long as yoi own...Hi Zali,<br /><br />If I'm not wrong, as long as yoi own a property, you'll be considered under BRS. You should check with cpf board for a confirmation on this. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-51567582642050181872018-01-17T12:06:09.916+08:002018-01-17T12:06:09.916+08:00Hi,
Currently my HDB un 3 names. First owner my f...Hi,<br /><br />Currently my HDB un 3 names. First owner my father in law,my wife and myself. My father in law now 67yrs and currently not working. Un the house he contribute around $160k, my wife $85k and myself clear the outstanding balance $48k. House fully paid. Now I'm 53yrs and in yr 2020 reaching 55yrs. I'm planning my CPF early. Just need to know up todate now my OA $232k, SA$122k and MA $52k. By the time 2020 my FRS is $181K and BRS $90.5K and currently still working. In 2020 estimate SA + OA = $290K.How much can I cash out? Can I request to consider un BRS instead of FRS? And do I still need to property pledge?Anonymoushttps://www.blogger.com/profile/06291705265631178543noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-41103148166600286842017-07-15T08:28:39.688+08:002017-07-15T08:28:39.688+08:00Hi,
The CPF scheme has changed and no longer call...Hi,<br /><br />The CPF scheme has changed and no longer called the pledging of flat. Intead, as long as you have a property, you just need to fulfill the basic retirement sum which is half of the full retirement sum. I believe after you buy another property, it'll be the same. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-30009211486972244542017-07-14T15:01:36.388+08:002017-07-14T15:01:36.388+08:00Hi
I have currently pledge my flat. After I sell t...Hi<br />I have currently pledge my flat. After I sell this flat, the money will go back to my CPF. Would I be able to pledge again when I buy another HDB or private property? Thanks in advance!<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-7784360682034744382017-01-29T10:21:11.083+08:002017-01-29T10:21:11.083+08:00SGYI,
Thank you very much for clarifying. Appreci...SGYI,<br /><br />Thank you very much for clarifying. Appreciated much for your time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-91840566571488057422017-01-28T16:35:36.762+08:002017-01-28T16:35:36.762+08:00Hi,
For your CPF, the MS has been renamed to basi...Hi,<br /><br />For your CPF, the MS has been renamed to basic retirement sum, full retirement sum and enhanced retirement sum. The basic retirement sum is the minimum amount which you need to have before you can pledge your property. If you have less than the BRS, then you can't pledge your property at all. The BRS varies according to the age you reach 55 that year. <br /><br />Hope this helps. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-17056634184534484162017-01-26T12:41:09.811+08:002017-01-26T12:41:09.811+08:00Hi SGYI,
My actual situation is as below and i wi...Hi SGYI,<br /><br />My actual situation is as below and i wish to find out before i decide whether should i sell my flat or to keep my flat till i die -<br /><br />1. OA = 500<br />2. SA = 40000<br />3. MA = 47000<br /><br />5-rm flat fully paid up (bought at 135k, market price now is 450k therabouts), P+I+Accrued Int = 240k<br /><br />i stopped contributing CPF as not working currently. <br /><br />So, should i sell and pay back the P+I+ACC Int so that this amount can be part of my MS (which obivously is insufficient)?<br /><br />Or, should i just let it auto pledge for half the MS?<br /><br />So, if i were to let it auto plegde, will i be getting the CASH drawdown at age 65? i emphasized on CASH is because there was no sales of flat and so no real money going back into the CPF for the pledge, or is the Gov providing the CASH upfront?<br /><br />Hope you can help, apologies if i am long winded.<br /><br />Thank you and Happy CNY!<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-21255776301606406472017-01-22T12:29:26.927+08:002017-01-22T12:29:26.927+08:00Hi,
I suppose you're saying your CPF sum shou...Hi,<br /><br />I suppose you're saying your CPF sum should be $161,000 and you pledge your flat to get $80,500 out and left $80,500 inside your CPF OA? Yes this amount will still be earning interest in your CPF OA account. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-73740679490296331152017-01-22T12:22:13.536+08:002017-01-22T12:22:13.536+08:00Dear SGYI,
Very good information you have here. M...Dear SGYI,<br /><br />Very good information you have here. My question is -<br /><br />1. i have pledge my flat but i am not going to sell, so in CPF records i have let say for now is $80,500 on paper right?<br />2. So, question is, will this $80,500 on paper be earning interest at all? Bearing in mind that i did not sell my property.<br /><br />Please let us know.<br /><br />Thanks.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-89187251490660957012016-03-05T08:41:48.539+08:002016-03-05T08:41:48.539+08:00Hi emelyn,
If I'm not wrong, the monthly pay...Hi emelyn, <br /><br />If I'm not wrong, the monthly payment for cpf life is lesser than the old min sum scheme as cpf pays for life. I believe there's a cpf calculator which you can check the monthly payments of these 2 schemes to compare before deciding. If there's not much difference on the monthly payments, then its better to go for cpf life. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-36125948658128958512016-03-03T17:27:31.227+08:002016-03-03T17:27:31.227+08:00Thanks for the clarification, my mum actually has ...Thanks for the clarification, my mum actually has only $17,500 in her RA account, she is 59 this year (born in 1957) so she has to option to continue staying under the min sum scheme or to opt into CPF Life. Would you advise then for her to opt into CPF life since she has so little in her RA account?emelynhttps://www.blogger.com/profile/12949355467893254412noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-26664725365715219822016-03-03T17:22:45.622+08:002016-03-03T17:22:45.622+08:00Hi emelyn,
If he enrolls in CPF life, then the pa...Hi emelyn,<br /><br />If he enrolls in CPF life, then the payout will be paid for life till the person pass away. If still under the old minimum sum scheme, then the payout is only for 20 years from payout eligible age. Hope this clarifies. Thanks!SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-1083715197754190672016-03-01T16:19:14.343+08:002016-03-01T16:19:14.343+08:00Before 55,
OA+SA = $60,000
At 55,
OA+SA = $5,000...Before 55,<br />OA+SA = $60,000<br /> <br />At 55,<br />OA+SA = $5,000<br />RA = $55,000<br /> <br />Mr C can withdraw $5,000 from his Ordinary Account only. (Maximum auto property pledge of $77.5k + RA balance $55k = $132.5k. A MS Shortfall of $22.5k. But can withdraw max $5k under current rules)<br /><br />For the above case, since there is still a shortfall after the property pledge, will he/she be able to receive the yearly payout until 85? Or the payout will cease once there's no more in the cpf account?emelynhttps://www.blogger.com/profile/12949355467893254412noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-78903715336797119922015-09-02T09:05:04.071+08:002015-09-02T09:05:04.071+08:00Actually the property pledge form seems to indicat...Actually the property pledge form seems to indicate that when you die, the cpf board gets to recover the pledged sum plus interest. Otherwise I think all of us will just pledge property.knyghtryderhttps://www.blogger.com/profile/18309887283455421434noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-11549987734253492732015-03-22T00:04:18.324+08:002015-03-22T00:04:18.324+08:00Hi Rui Lin,
If you want a payout income of $1200 ...Hi Rui Lin,<br /><br />If you want a payout income of $1200 monthl at age 65, you'll need to have roughly $155000 in your cpf accounts. You can withdraw any amount that is above the basic retirement sum which is $80600 currently. For CPF investment, when you sell it, it'll go back into your cpf accounts. You can only withdraw the amount above the basic retirement sum. <br /><br />Yup, if we retired at 55 without any other contribution to the CPF, we'll still get payout at age 65 base on your amount at age 55. If we continue working, the of course we'll accumulate more and get more payouts also. <br /><br />I saw your email which you sent me too. Will reply in awhile. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-17180833052449793632015-01-30T16:19:07.762+08:002015-01-30T16:19:07.762+08:00Hi,
You can start to transfer your OA money to SA...Hi,<br /><br />You can start to transfer your OA money to SA anytime. SA monry cannot be used for BTO. It is strictly for retirement. Also, do take note that the transfer is irreversible. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-68084471908356744822015-01-30T16:18:57.553+08:002015-01-30T16:18:57.553+08:00Hi,
You can start to transfer your OA money to SA...Hi,<br /><br />You can start to transfer your OA money to SA anytime. SA monry cannot be used for BTO. It is strictly for retirement. Also, do take note that the transfer is irreversible. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-31331936490986466442015-01-30T09:27:14.042+08:002015-01-30T09:27:14.042+08:00Dear SGYI,
Thanks for the useful article, really a...Dear SGYI,<br />Thanks for the useful article, really appreciate it much.<br />1. Just wondering at what age we can choose to transfer our OA money to SA account?<br />2. If we do so, can we use our SA money to buy our BTO?<br />Thank you!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-46400114050153803432014-06-22T20:28:29.639+08:002014-06-22T20:28:29.639+08:00thanks a lots.thanks a lots.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-9894371158898585402014-06-21T17:14:54.197+08:002014-06-21T17:14:54.197+08:00Hi,
I think by logging into your mum's cpf ac...Hi,<br /><br />I think by logging into your mum's cpf account, you'll be able to see how much cpf she has used for housing. Typically, the pledge amount is equal to the amount she used plus the interest over the years. If you can't find the info, then will have to check with CPF board themself. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-75499508798824084242014-06-21T16:05:32.771+08:002014-06-21T16:05:32.771+08:00thanks do much for your reply. but how can we chec...thanks do much for your reply. but how can we check how much the pledge amount is and when is the flat started to auto pledge? I am checking on behalf on my mum.she is turning 55 in coming Nov. she did not meet the minimum sum so i guess her flat will be auto pledges. btw she is still paying for her flat now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-77311973112277057682014-06-21T13:41:01.327+08:002014-06-21T13:41:01.327+08:00Hi,
Don't worry about being homeless. When yo...Hi,<br /><br />Don't worry about being homeless. When your hdb is auto pledged, it only means that you'll have to return the amount pledged back to your cpf in the event you sell your house. The whole purpose is to make sure people have enough for retirement and not sell their house for profits and take it to spend on luxury items. If you did not sell your house, the auto pledge does not affect you. The ownership of the house will remain unchanged. It doesn't mean it is transferred to the government. There is no way to opt out of the auto pledge. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-21594231409841276572014-06-21T12:16:13.558+08:002014-06-21T12:16:13.558+08:00hi,
If we did not meet the minimum sum, our HDB f...hi,<br /><br />If we did not meet the minimum sum, our HDB flat will be auto pledged to meet the minimum sum. Does it mean that we will be homeless by the age of 55? I do not quite understand the situation of the auto pledged property and what will be the consequence.how about the ownership? can we opt out from the auto pledge? Please advise the above.<br /><br />Thanks a lots. Anonymousnoreply@blogger.com