Quote:
Originally Posted by Unregistered
Hi,
I learnt something new from you. I am mid-40's and my current SA is $210K.
Based on my estimation, my SA would reach $356K and the ERS would increase to $345K by then.
You mentioned that once RA account is created or SA FRS limit hit, we are not allowed to top up.
That's means I could lock in my RA based on FRS est $230K in year 2027, keep the balance of $126K in SA to continue earning interest. And top up $155K in cash to my RA when I am 55yo to enjoy the CPF Life higher payout? The top up must be at one go at age 55yo or can be spread over years?
Thanks |
Yup, you are right that they will take the FRS amount from your SA when you turn 55, and leave the excess in your SA.
You can then top up your RA with cash by any amount at any time of the year till it reach the ERS limit for the year. Every year the ERS limit amount will grow by $7,500.
If you want to top up your RA with
CPF money, they will take from your SA first, depletes that before they will take from your OA.