bros............no money to buy flat and no money to retire...........so have to transfer from OA to SA lah...........
so how to transfer almost all of my OA to SA ?...............can do it online ?
also, how much should i leave in my OA for DPS premiums and other deductions ?
(27-07-2024, 02:39 PM)Napoleon Porlumpar Wrote: [ -> ]bros............no money to buy flat and no money to retire...........so have to transfer from OA to SA lah...........
so how to transfer almost all of my OA to SA ?...............can do it online ?
also, how much should i leave in my OA for DPS premiums and other deductions ?
I am sorry to hear that you are in hardship.. Are there any health issues that are making it hard for you to move up? Or are you facing discrimination?
When you log in to your CPF account, it will tell you how much you are allowed to transfer from OA to SA. Transfer as much as you can.
Does any one knows if today can a person age 55 and above transfer from CPF SA to OA?
Yes, just login in to your own CPF Account
Check the MAX limit you can transfer
and just transfer, lor but I think cannot transfer back
if you change your mind.
(27-07-2024, 03:06 PM)sgbuffett Wrote: [ -> ]Does any one knows if today can a person age 55 and above transfer from CPF SA to OA?
I am surprised an investment guru like you wants to transfer your SA to OA.
(27-07-2024, 03:47 PM)Oyk Wrote: [ -> ]I am surprised an investment guru like you wants to transfer your SA to OA.
Not me. I just want to clarify the rules.for people
above 55
The reason is the SA for those above 55 will be closed next year. Because from now until the closure is less than 1yr. Should some.opportunity emerge that can give 3+% for next 1yr but can only use OA person might want grab the opportunity ahead of closure of SA.
Anyway you have an ans for the question or not?
The SA Gov will remove it to deter others from making extra
(27-07-2024, 04:00 PM)sgbuffett Wrote: [ -> ]Not me. I just want to clarify the rules.for people abive 55
The reason is the SA for those above 55 will be closed next year. Because from now until the closure is less than 1yr. Should some.opportunity emerge that can give 3+% for next 1yr but can only use OA person might want grab the opportunity ahead of closure of SA.
Anyway you have an ans for the question or not?
It's you. It's your mommy's SA which you have been waiting...
Those who have money in their SA have met the full retirement sum. They can withdraw whatever is in their SA and OA.
(27-07-2024, 03:06 PM)sgbuffett Wrote: [ -> ]Does any one knows if today can a person age 55 and above transfer from CPF SA to OA?
Aged 55 and above don't have SA liao lah.
(27-07-2024, 04:00 PM)sgbuffett Wrote: [ -> ]Not me. I just want to clarify the rules.for people abive 55
The reason is the SA for those above 55 will be closed next year. Because from now until the closure is less than 1yr. Should some.opportunity emerge that can give 3+% for next 1yr but can only use OA person might want grab the opportunity ahead of closure of SA.
Anyway you have an ans for the question or not?
Next year, sa auto transfer to oa for those above 55.
Expect oa funds to seek higher returns elsewhere.
(27-07-2024, 05:40 PM)RichDad Wrote: [ -> ]Next year, sa auto transfer to oa for those above 55.
Expect oa funds to seek higher returns elsewhere.
I am saying manual transfer before the govt auto transfer
(27-07-2024, 05:50 PM)sgbuffett Wrote: [ -> ]I am saying manual transfer before the govt auto transfer
Every singaporean know cannot. U r not singaporean lor.
Fo
From early 2025, the SA will be closed for members aged 55 and above to be in line with the principle that savings set aside for retirement should continue to earn long-term interest rates, while savings that can be withdrawn at any time should earn the short-term interest rate.
If you have savings in SA when the SA is closed, it will be transferred to the RA, up to your FRS, so that you can receive higher retirement payouts. Once you have set aside your FRS in RA, the remaining SA savings will be transferred to the OA and can be withdrawn at any time.
If you do not have enough RA savings to make up the FRS and have used your CPF savings for your property, we will use your CPF savings withdrawn for your property (including accrued interest) to meet your FRS. The maximum amount that can be used is your Basic Retirement Sum. When you sell your property, you will have to restore your RA up to your FRS with y