tag:blogger.com,1999:blog-7944902213075756335.post9007431462189737084..comments2024-03-29T19:12:08.223+08:00Comments on A Singaporean Stocks Investor (ASSI): Boost elderly parents' CPF-RA or CPF-MA?AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-7944902213075756335.post-84930171883708895662019-01-31T12:23:19.919+08:002019-01-31T12:23:19.919+08:00HnGDreams said...
Does it make sense to top up par...HnGDreams said...<br />Does it make sense to top up parents CPF who are already retired and >70, they don't have much $200/month on the annuity drawn currently. If top up this amount will increase slightly i guess?<br /><br /><br />Blogger AK said...<br />You will be topping up their CPF-RA which is used to help fund retirement.<br />It will definitely help them and at the same time you AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-77784144536950511372018-09-24T21:40:57.052+08:002018-09-24T21:40:57.052+08:00Resistor said...
My parents are retired, have RA a...Resistor said...<br />My parents are retired, have RA and drawing a little from it each month. Can I top it up and increase the payout? does it make sense? thanks!<br /><br />AK said...<br />Yes, you can top up your parents' CPF-RA.<br /><br />More in the CPF-RA means more interest income.<br /><br />6% on the first $30K.<br /><br />5% on the second $30K.<br /><br />4% for the rest. :)<br /><AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-83419437062451274892018-05-31T13:01:14.216+08:002018-05-31T13:01:14.216+08:00Mervyn Lim says...
If the medisave account is topp...Mervyn Lim says...<br />If the medisave account is topped up to the max $54k for a 70 years old, since the government is giving medisave top up yearly, will it be affected I.e Can’t receive the government top up as the medisave account is full. Anyone know?<br /><br />AK says...<br />Will still receive. Overflow into RA and if RA full, overflow into OA lor. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-72488637324052448332017-11-18T12:00:41.121+08:002017-11-18T12:00:41.121+08:00Reader says...
Recently, parliament approved the t...Reader says...<br />Recently, parliament approved the transfer of cpf balances to parents' account, as long as one meets the BRS with sufficient property pledge. Previously the balance has to be above FRS before the transfer is allowed. AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-87458952309955789452017-07-14T13:07:34.841+08:002017-07-14T13:07:34.841+08:00Hi fc,
If their MA and RA are both maxed out, I d...Hi fc,<br /><br />If their MA and RA are both maxed out, I don't think we need to worry about topping up their CPF accounts anymore. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-4141652738016066062017-07-14T12:47:15.345+08:002017-07-14T12:47:15.345+08:00if our parent has the MA and RA maxed out.
where ...if our parent has the MA and RA maxed out. <br />where can we top up to?foolish chameleonhttps://www.blogger.com/profile/05964116916697053495noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-75584198156558507082017-07-14T11:33:22.339+08:002017-07-14T11:33:22.339+08:00On my FB wall.
Irene Peh:
My dad passed away in ...On my FB wall.<br /><br />Irene Peh: <br />My dad passed away in 2014. A few months after his death, my brother received a cheque from CPF board as my dad had nominated him to be the beneficiary.<br />To be more precise, there were monies from my dad's MA.<br />*they wereAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-70721512374052236132017-07-14T10:11:17.415+08:002017-07-14T10:11:17.415+08:00Thanks for the valuable comments, guys. :)
Govern...Thanks for the valuable comments, guys. :)<br /><br /><a href="http://singaporeanstocksinvestor.blogspot.sg/2017/07/government-confiscates-our-cpf-ma.html" rel="nofollow">Government confiscates our CPF-MA savings when we die.</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-88241848141672903692017-07-14T09:11:49.178+08:002017-07-14T09:11:49.178+08:00If got CPF nomination, then pretty straightforward...If got CPF nomination, then pretty straightforward & automatic. CPF will write to you within 1.5 to 2 months, & usually within 2 months of death, the deceased's CPF monies will go into your bank account. Any discounted SingTel shares will be transferred to your CDP account, in proportion to the deceased's nomination.<br /><br />If no CPF nomination, CPF will also write to you, butSpurhttps://www.blogger.com/profile/11824813457786462446noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-17924349228855148762017-07-14T09:03:49.136+08:002017-07-14T09:03:49.136+08:00Hi Cory,
I believe this post on CPF Facebook book...Hi Cory,<br /><br />I believe this post on CPF Facebook book will be very helpful. Do help spread the message and debunk the myth and rumors. <br />https://www.facebook.com/notes/cpf-board/8-things-you-should-know-about-your-cpf-nomination/10154318213195177/ <br /><br />Q5: There were rumours that Medisave savings go to the Government after death as they are not included in CPF Nominations. Is DavidPhttps://www.blogger.com/profile/17119652891458698676noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-2795080725870632892017-07-13T23:31:25.686+08:002017-07-13T23:31:25.686+08:00Hi Cory,
I am not sure where you read that but I ...Hi Cory,<br /><br />I am not sure where you read that but I can tell you for a fact that all your CPF money, no matter which sub account it is in, will go to your beneficiaries once you say your final good bye to this world. <br /><br />It is all pretty simple except for any money which might be left in CPF Life if it has been activated. That is an annuity and will have its own calculations.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-78090515694925616932017-07-13T21:52:11.623+08:002017-07-13T21:52:11.623+08:00Hi AK, I read a few times that MA money not easy t...Hi AK, I read a few times that MA money not easy to claim. Assume if so, will my next gen able to get my "MA" in cash after I ... ?<br /><br />Cory<br />Coryhttps://www.blogger.com/profile/18166646368324976318noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-13304698778045201482017-07-13T21:15:42.662+08:002017-07-13T21:15:42.662+08:00Hi fc,
5% to 6% interest rate on savings is impos...Hi fc,<br /><br />5% to 6% interest rate on savings is impossible to beat. For those of us who have parents who are not taking full advantage of their CPF membership, if possible, we should really help them to do so. Doing this will also help us. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-47201165684497503012017-07-13T17:39:34.095+08:002017-07-13T17:39:34.095+08:00hi ak/reader...
Agreed MA first.
RA seems still d...hi ak/reader...<br />Agreed MA first.<br /><br />RA seems still doable but CPF advise is 50k by 65?<br /><br />I checked CPF LIFE website.<br />https://www.cpf.gov.sg/members/schemes/schemes/retirement/cpf-life<br /><br />"If you do not have the stated Retirement Account balances or if you are born before 1958, you can still apply to join CPF LIFE. You can make your application to join CPF Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-7211280444606718492017-07-13T10:27:09.600+08:002017-07-13T10:27:09.600+08:00David Poh:
I agree with AK that it will be more b...David Poh: <br />I agree with AK that it will be more beneficial to top up your mum's MA rather than RA given her age. I think your mum will be very comforted to know you have her best interests at heart. Two key takeaways for me: <br /><br />1. When we do financial planning, we do need to consider everyone (parents, spouse, children). Do not do it in silos. <br /><br />2. Never late, only AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.com