The main advantages of CPF-SA after 55 is you earn 4% and anytime can withdraw.
Closing of SA means the only way to get 4% is to put money in CPF RA ...but after that cannot withdraw only can get back in CPF Life instalments after 65. After 65 your interest goes to common pool jn CPF Life and you cannot touch.
Okay. After much check ING I think there is a way to get best of all worlds.
1. Put in your money into RA to earn 4%.
2. Whenever you need the money before age 65, you pledge your property and withdraw your RA down to BRS.
3. This way you can withdraw anytime and still earn 4%.
Her is how you can pledge your propeprty and using this method you can take money out of CPF RA when you need it.
![[Image: krh5D5f.jpg]](https://i.imgur.com/krh5D5f.jpg)
If too many ppl do it, garment will close this "loophole"
It's pap's fault, for turning a social security scheme for the peasants into a Ponzi investment scheme for the rich.
More details on how to withdraw from RA account.
Is this another one of handbag loo’s hare brained schemes? He is running amok like a chicken with its head cut off
(23-02-2024, 08:06 PM)p1acebo Wrote: [ -> ]Is this another one of handbag loo’s hare brained schemes? He is running amok like a chicken with its head cut off
Loo? He knows what he is doing lah...afterall he has accumulated $2M in CPF how many can reach this level.
This idea of using RA to get more interest is from me. I have not seen anyone else come up with it.
(24-02-2024, 04:17 AM)sgbuffett Wrote: [ -> ]Loo? He knows what he is doing lah...afterall he has accumulated $2M in CPF how many can reach this level.
This idea of using RA to get more interest is from me. I have not seen anyone else come up with it.
Many are doing this. This is not a hack at all. It is common knowledge, not a loophole
(24-02-2024, 04:17 AM)sgbuffett Wrote: [ -> ]Loo? He knows what he is doing lah...afterall he has accumulated $2M in CPF how many can reach this level.
This idea of using RA to get more interest is from me. I have not seen anyone else come up with it.
Wahlao, so you hv how many millions in your ra? 😉
(24-02-2024, 08:51 AM)Tee tiong huat Wrote: [ -> ]This is me (Tee Tiong Huat) to tell PAP to start this system from 55 yrs age, this is for only poor folks not fxxl SGD$2M folks.
From Tee, This system started many years ago from P.A. association. This is my original idea, an ideas for PA to think.
Already about many yrs lehh. Tharman Shanmugaratnam about 25-30 yrs ago.
upload.wikimedia.org/wikipedia/commons/thumb/c/c5/.....for P.A. association to think...
"2. Whenever you need the money before age 65, you pledge your property and withdraw your RA down to BRS."
The amount you could withdraw is ra - brs. Now brs is about 102k and will keep increasing. So if you dun hv much in ra or the amount less than brs, this 'idea" of yours is just another dream
Why would you pledge your property just to withdraw? No intention to redeem your property? Redeem no need to pay back with accrued interest? And at that age already still game yourself around these moving assets?
(24-02-2024, 09:36 AM)red3 Wrote: [ -> ]Why would you pledge your property just to withdraw? No intention to redeem your property? Redeem no need to pay back with accrued interest? And at that age already still game yourself around these moving assets?
Because the trick uses a few rules I did not describe all that nuances.
For people who are not sell homes they don't have to worry about accrude interests etc.
The 2nd thing is once you sell your house you need to put money back up to FRS.....here one can craft another version of the trick.
Upon 55, you have FRS in RA.
You top up another amount equal to BRS using ERS scheme to earn 4%. So you have total FRS + BRS in RA earning 4%. The top up cannot be withdrawn. One day you need the money you pledge your home to take out amount equal to BRS. That leaves the RA with an amount equal to FRS.
When you sell the home because you already have FRS in the RA you need not pay anything from sale of home back into RA.
(24-02-2024, 10:39 AM)ROFLMAO Wrote: [ -> ]Very low , only 1
![[Image: photo-2024-01-28-23-58-16.jpg]](https://i.ibb.co/MhjGB7Q/photo-2024-01-28-23-58-16.jpg)
Walao, ah mao so cpf rich ah? 1m75?
