Reader #1 says...
I have decided to use cash, $10K annually for 18 years to top up my non-working spouse's CPF SA.
She currently has only $10K in her CPF SA.
In this way, she should be able to meet the minimum sum by the age of 55 and join the CPF Life.
10K annually will be the minimum top up and will be around $280K by the time she is 55 if my calculation is correct.
Any extra will be bonus.
We are not very well-to-do, so we hope that with both of us on CPF Life, we will not burden our children when we aged.
Just like to thank you for sharing your thoughts/talking to yourself on the CPF system, so that we can better understand it!
And thank you for taking your time to reply me with the link.
What u are doing is truly out of good will.
Good karma for good hearted people! 善有善报！😊
Reader #2 says...
I had just hit the FRS in SA and the BHS in MA as some of your readers did.
Wah, feel happy and looking to grow my spouse's CPF account as my next objective.
She is a SAHM (stay at home mother).
AK says...
The CPF system is one that helps members who help themselves.
It is a system that rewards the gainfully employed.
Housewives are usually disadvantaged, therefore.
So, good husbands like you guys are needed!
Doing a good job! Gambatte!
Imaginary Reader says...
What about you, AK?
Are you doing a good job too?
AK says...
B.Y.H.W.
Wealth destruction!
I lucky I no wife. :p
Yes, I know.
Bad AK! Bad AK!
FAKE ASSI AK71 IN HWZ.
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5 comments:
Reader says...
i am oso gd man cos i top up my wifey cpf sa
but ak is clever man
no wifey cpf sa to top up lol
Hengqi Toh says...
To add on to the topic,i read that once ownself were to hit FRS, we are allow to transfer our oa to our spouse sa to top up their accounts to meet the retirement sum.
CPFB says...
Did you know that transferring your CPF savings to your spouse might allow both of you to reap extra benefits? If your spouse has less than $60,000 in his or her CPF accounts, you can transfer your balance above the Basic Retirement Sum* to his or her Special or Retirement Account (depending on his or her age). This way, both of you can enjoy the extra 1% interest paid on the first $60,000 of CPF balances!
If your spouse has less than $60,000 in his or her CPF accounts, consider doing a transfer to your spouse via the Retirement Sum Topping-Up Scheme to get the most out of your combined savings as a couple!
Your spouse can receive transfers up to the current Full Retirement Sum (FRS) if he/she is below 55, or up to the current Enhanced Retirement Sum (ERS) if he/she is above 55.
Sim On says...
The good one top up their wife CPF, the better one even give her his FRS. Becos he has enough passive income for retirement....
Yew Ngie says...
Aim for ERS for both so when time for Gov to pay can bleed them hard for 5k per month
AK says...
Wah! You good! :p
blazingruby60 said...
hi AK
I have been a homemaker for 23 years and all the while didnt contribute to my OA but after reading your blog i decide to do VC and also make my husband top up my RA upon reaching 55. Of course i am delighted to see the interest credited past 2 years. If you have not written on this blog i would still do nothing about topping up and earning the interest from government.
Will continue to do so as long as possible.
thank you for the shoutout..
AK said...
Hi Ruby,
I am never one to reject good help as I am a lazy fellow. ;p
Why reject government's offer to help fund our retirement with 4% to 6% interest per annum? :)
Happy for you. :D
You have a good husband. ;)
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