tag:blogger.com,1999:blog-7944902213075756335.post3841368396810239710..comments2024-03-28T23:00:40.055+08:00Comments on A Singaporean Stocks Investor (ASSI): Could I use the money contributed voluntarily to my CPF?AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-7944902213075756335.post-64521137864510936222015-09-21T12:44:41.439+08:002015-09-21T12:44:41.439+08:00Hi AhJohn,
We work hard for our money. Our money ...Hi AhJohn,<br /><br />We work hard for our money. Our money should work hard for us. :)<br /><br />I am not one to reject help from the government. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-57051734840561156582015-09-19T16:10:05.651+08:002015-09-19T16:10:05.651+08:00Hi AK, you are pushing government to work harder.
...Hi AK, you are pushing government to work harder.<br />According to the CPF Board, these top-ups amounted to about S$500 million last year, up 25 per cent compared to 2013.<br /><br />http://www.channelnewsasia.com/news/singapore/more-making-voluntary/2136430.htmlAhJohnhttps://www.blogger.com/profile/07927395374670213105noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-16924350535581492172015-09-16T18:08:25.373+08:002015-09-16T18:08:25.373+08:00And Japan just got downgraded.
http://www.bloombe...And Japan just got downgraded.<br /><br />http://www.bloomberg.com/news/articles/2015-09-16/japan-s-debt-ratings-downgraded-at-s-p<br />KChttps://www.blogger.com/profile/15681244843883578276noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-82280351230330202612015-09-16T15:36:05.782+08:002015-09-16T15:36:05.782+08:00I feel the rule is to prevent overzealous people f...I feel the rule is to prevent overzealous people from using their OA to over financing the 2nd property and becoming financially inadequate for retirement.Mao Maohttps://www.blogger.com/profile/10325600231229140321noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-42117644343901040102015-09-16T08:57:17.874+08:002015-09-16T08:57:17.874+08:00Hi Steven
The Central Provident Fund salary ceilin...Hi Steven<br />The Central Provident Fund salary ceiling is currently capped at S$5,000 and will be raised to S$6,000 from Jan 1 next year.<br /><br />We can't simply take the annual gross salary and multiply by the contribution rate to compute the total annual CPF contribution.Nickhttps://www.blogger.com/profile/17126013903326828525noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-5293676854176857042015-09-15T20:58:18.282+08:002015-09-15T20:58:18.282+08:00Hi All
Is best you seek CPF clarification. Is bes...Hi All<br /><br />Is best you seek CPF clarification. Is best get the answer from the horse mouth.<br />ThanksDIhttps://www.blogger.com/profile/00385531617246763857noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-18359433733516657262015-09-15T19:06:36.846+08:002015-09-15T19:06:36.846+08:00Hi Solace,
I agree with you totally. In fact, you...Hi Solace,<br /><br />I agree with you totally. In fact, you might remember one of my earlier blog posts which explains why I have so much in my CPF-OA.<br /><br />See: <a href="http://singaporeanstocksinvestor.blogspot.sg/2015/01/how-did-ak-amass-so-much-money-in-his.htmlhttp://singaporeanstocksinvestor.blogspot.sg/2015/01/how-did-ak-amass-so-much-money-in-his.html" rel="nofollow">How did AK AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-38403542731196458982015-09-15T18:51:06.431+08:002015-09-15T18:51:06.431+08:00Hi Steven,
If our earned income is high enough th...Hi Steven,<br /><br />If our earned income is high enough that our mandatory contribution to our CPF account hits the annual contribution cap, then, no voluntary contribution is allowed. However, we could still do Minimum Sum Top Ups to our CPF-SA if it has yet to hit the Minumum Sum (now called the Full Retirement Sum or FRS).AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-33486208995606980482015-09-15T16:19:20.883+08:002015-09-15T16:19:20.883+08:00I am hesitant in using VC contribution money in OA...I am hesitant in using VC contribution money in OA for purchase of second property. <br /><br />In normal times, the Govt is paying me 2.5%. If i use for a second property, i will be paying the 2.5% as accrued interest myself when i realized the investment gain from the selling the 2nd property. <br /><br />Hmmm, i would most likely rely on cash more if i ever need to purchase 2nd property.<br />Solacehttps://www.blogger.com/profile/08801978818033316328noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-32190873280059532782015-09-15T15:59:37.609+08:002015-09-15T15:59:37.609+08:00This comment has been removed by the author.Stevenhttps://www.blogger.com/profile/15468620574249097158noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-11667970923407385562015-09-15T13:49:54.137+08:002015-09-15T13:49:54.137+08:00Hi AK
May i asked if one's annual gross salar...Hi AK<br /><br />May i asked if one's annual gross salary is 85000 (assuming all taxable), he would have hit the CPF Annual Limit of 31450 automatically?<br /><br />e.g. 85000 x 37% (contribution rate for <55yo) = 31450<br /><br />if this is the case, is he eligible for any top up scheme to his OWN account? thanks!Stevenhttps://www.blogger.com/profile/15468620574249097158noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-37134425517095120332015-09-15T13:40:07.238+08:002015-09-15T13:40:07.238+08:00Hi Ed,
Oh, I just used my previous year's man...Hi Ed,<br /><br />Oh, I just used my previous year's mandatory contribution as a guide. So, if the contribution cap was $30,600 and if the total mandatory contribution was $27,000 the year before, I could contribute another $3,600 voluntarily. So, I just sent CPF Board a cheque for anything less than $3,600 and they will apportion the money into my OA, SA and MA. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-53892799476272930502015-09-15T13:24:12.117+08:002015-09-15T13:24:12.117+08:00Hi AK,
How did you calculate that your VC require...Hi AK,<br /><br />How did you calculate that your VC required is $777.60?<br /><br />EdEDhttps://www.blogger.com/profile/17683198679267536470noreply@blogger.com