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Old 02-04-2019, 04:47 PM
lazyplane lazyplane is offline
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Join Date: Aug 2010
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We are all CPF fans.
Also note bequest are also capped at ERS (if i recall correctly).
above ERS - bequest will be given out in cash.

Congrats on achieving 40k interest from CPF.

Fun Fact below :

The short answer is max amount in CPF (if you have not hit FRS in CFP yet) is ERS. Because you can still get bequest etc hence up to ERS

Once you hit ERS in CPF, the max amount is ERS + accumulated (annual top of 37.74k + interest from CPF)

Theoretically, assume at age 1 hits ERS, then max total CPF = + max contribution every year + interest . Assume this continues all the way to age 55 , max cpf then will be around $6.5m ! So you can now answer that question... ha ha

Originally Posted by Unregistered View Post
There seems to be keen interest in the CPF lately. More people are now warming up to the fact that CPF can be a good and viable scheme to save up for retirement.

CPF is a rather unique and interesting scheme in that once you put money in (either through salary deduction or voluntary contributions), you cannot simply make withdrawals from it except for housing, local uni education or for some medical expenses. It is also a scheme where you cannot put more money in even if you wanted to.

So, people are curious as to what is the maximum amount of money one can have in their CPF at a given age. This is not a simple question to answer, as there are people who received their bequests from their relatives direct into their CPF OA thus boosting their amounts.

Even for those without the benefits of bequests, it is still difficult to pin down the maximum amount one can accumulate in his/her CPF at a given age because it is dependent on when one starts working and thus starts contributing to his/her CPF.

There are however people who share their numbers online; people such as AK71, CW8888 and others.

Their CPF numbers provided good benchmarks for those who are in the same age groups as these bloggers. But their CPF amounts by no means represent the highest amount attainable at their age.

AK71 at 48, has accumulated a total of $845,373 in his combined CPF accounts. Then we have a Jac Lau, who at 57, accumulated $1,044,000 in his combined CPF accounts. Jac is what we called a CPF millionaire.

And there is yet another category of CPF members who attained CPF OA millionaire status. CW8888 is one of them. He attained this status at age 62. Mind you, he retired at 60!

I did a simple modeling and concluded that it is possible for a high performer to accumulate $1M in his OA by the age of 55! I achieved this status at age 56, one year late. But better late than never.
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