Quote:
Originally Posted by Unregistered
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. |
May I know if you are retired already? And if so or otherwise, how much does your
CPF contributed towards your retirement funds/plan.
I have also hit my FRS. My current plan is to grow my
CPF, top up MA/SA at the start of the year whenever they increase the limits to grow my
CPF. I estimated that
CPF will be more than a mil at 55 and I plan to leave the money in there, draw on the interest and
CPF life to supplement my retirement income. I would estimate that I would be able to draw around 70K per annum from
CPF life and
CPF interest from age 65 to supplement my retirement funds outside
CPF.
Appreciate anyone's input on this.