Posts: 22,179
   
Threads: 6,272
    
Likes Received: 4,114 in 3,223 posts
Likes Given: 481
(12-04-2022, 06:17 PM)Notdumb Wrote: Just remembered CPF is PAP scam. Its not your $$$.
Whether you believe it is a scam or not..you still need to know the rules so you can make the most of it.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
>
Posts: 3,309
   
Threads: 11
    
Likes Received: 1,149 in 943 posts
Likes Given: 47
I’ve not participated in any of their schemes. Since turning 55, I’ve withdrawn some $400k and still have some more to see me through to my end days.
tomorrow will be a better day
>
Posts: 22,179
   
Threads: 6,272
    
Likes Received: 4,114 in 3,223 posts
Likes Given: 481
(12-04-2022, 08:09 PM)surfer Wrote: I’ve not participated in any of their schemes. Since turning 55, I’ve withdrawn some $400k and still have some more to see me through to my end days.
How you managed to take out everything and not participate?
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
>
Posts: 8,063
   
Threads: 17
    
Likes Received: 1,565 in 1,317 posts
Likes Given: 525
here so many smart peepers top talent still hv difficulties in understanding how it works exactly ah?
Posts: 2,948
   
Threads: 502
    
Likes Received: 571 in 458 posts
Likes Given: 69
all dumb farks here
never answer the very Qs I ask
I am not saying 55
I am saying 65
Posts: 10,573
   
Threads: 33
    
Likes Received: 1,381 in 1,233 posts
Likes Given: 2,545
(12-04-2022, 08:18 PM)sgbuffett Wrote: How you managed to take out everything and not participate?
Singapore PRs from China for eg can take everything out if they throw the blue NRIC at the ICA officer's desk.
Those who migrated to for eg Australia and became Australian citizens can also take everything out....
Posts: 6,860
   
Threads: 867
    
Likes Received: 1,724 in 1,397 posts
Likes Given: 0
(12-04-2022, 08:43 PM)Talent Wrote: all dumb farks here
never answer the very Qs I ask
I am not saying 55
I am saying 65
i replied on the dot ,write to cpf for 101% no nonsense correct answer
Posts: 17,750
   
Threads: 198
    
Likes Received: 4,477 in 4,007 posts
Likes Given: 6,144
(12-04-2022, 03:45 PM)Talent Wrote: is it true that after 65
if I put in cash to ordinary account
I can take out anytime
even if my RA has not met minimum sum
so if I sell my hdb flat after 65
will cpf use proceed to top up my RA
Do you think we are cpf officers here? Best to ask them directly. Anyways, many of us here are ard 50yrs to 55yrs only.... tell you in 10+ yrs time lah
Wherever you go, no matter what the weather, always bring your own sunshine
>
Posts: 3,180
   
Threads: 48
    
Likes Received: 546 in 463 posts
Likes Given: 457
(12-04-2022, 06:57 PM)Notdumb Wrote: Not confuse lah. Its a deliberate scam of dumbfarks $$$.
sodumb fuk like u like to complain all day….
Posts: 4,855
   
Threads: 113
    
Likes Received: 1,651 in 1,269 posts
Likes Given: 1,209
(12-04-2022, 08:43 PM)Talent Wrote: all dumb farks here
never answer the very Qs I ask
I am not saying 55
I am saying 65
Better to ask CPF directly but I think it is like this: after 65,
1. If you have enough in your RA to meet the basic retirement sum, then all proceeds from property sales can be book out to your bank from CPF, provided you have another property to pledge the other half of basic re sum.
If no other property, they will grab the balance of full retirement sum + accrued interest from the sales proceeds. Any left over is yours.
2. If you haven't met the basic retirement sum, then they will grab the shortfall + accrued interest and the rest you can book out provided you pledge another property for the other half of basic retirement sum.
If no property, they will grab full re sum + accrued int before you can cash out.
The idea is simple, you must have at least basic sum money in cpf to join the risk pool for future cpf life payouts before you can take out your cash, whatever your age.
They won't let you take out cash from property sales just like that unless you are dead.
(This post was last modified: 13-04-2022, 02:27 PM by
RichDad.)
Posts: 8,063
   
Threads: 17
    
Likes Received: 1,565 in 1,317 posts
Likes Given: 525
something like that. for details, better call up to to check, and let lawyer handle for you.
Posts: 2,948
   
Threads: 502
    
Likes Received: 571 in 458 posts
Likes Given: 69
my trainer from wealth mgt
said can
Posts: 4,855
   
Threads: 113
    
Likes Received: 1,651 in 1,269 posts
Likes Given: 1,209
(13-04-2022, 03:02 PM)Talent Wrote: my trainer from wealth mgt
said can
For those older people not on CPF life scheme, maybe can. But for those on CPF life, I think cannot.
Posts: 2,948
   
Threads: 502
    
Likes Received: 571 in 458 posts
Likes Given: 69
(13-04-2022, 09:03 PM)RichDad Wrote: For those older people not on CPF life scheme, maybe can. But for those on CPF life, I think cannot.
anyway I could believe
what's why ask
and shoot to cpf to answer
now cannot visit in person
very troublesome
Posts: 2,948
   
Threads: 502
    
Likes Received: 571 in 458 posts
Likes Given: 69
(13-04-2022, 09:03 PM)RichDad Wrote: For those older people not on CPF life scheme, maybe can. But for those on CPF life, I think cannot.
u don't make sense
those can buy cpf life, got min RA
sure can
Posts: 4,855
   
Threads: 113
    
Likes Received: 1,651 in 1,269 posts
Likes Given: 1,209
(13-04-2022, 10:11 PM)Talent Wrote: u don't make sense
those can buy cpf life, got min RA
sure can
Of course if hit min sum, can cash out lah. See above. Understood lah.
Thought you are saying haven't hit min sum, can cash out after 65.
(This post was last modified: 13-04-2022, 10:20 PM by
RichDad.)
Posts: 2,948
   
Threads: 502
    
Likes Received: 571 in 458 posts
Likes Given: 69
(13-04-2022, 10:20 PM)RichDad Wrote: Of course if hit min sum, can cash out lah. See above. Understood lah.
Thought you are saying haven't hit min sum, can cash out after 65.
yes my Q is haven't hit RA min
can buy cpf life means can hit min sum
Posts: 4,855
   
Threads: 113
    
Likes Received: 1,651 in 1,269 posts
Likes Given: 1,209
(13-04-2022, 10:58 PM)Talent Wrote: yes my Q is haven't hit RA min
can buy cpf life means can hit min sum
I am saying there are people from a certain birth year, can't remember which year, who are on cpf life scheme. That's compulsory. I didn't mean they have hit the min sum.
If haven't hit min sum, still can be on cpf life but lower payout and can't cash out entire property sales proceed.
Get it?
(This post was last modified: 14-04-2022, 07:15 AM by
RichDad.)
Users browsing this thread: 1 Guest(s)