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Old 04-04-2019, 07:44 PM
lazyplane lazyplane is offline
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Since i started this :

Nope. there is still a cap even if the bequest go CPF. And you cant specify the CPF account for bequest to go to. Pls give CPF a call. And as i said before, we are all CPF fans.

I am not sure about the point you said you can hold 2 jobs and for both jobs to contribute to 37.4k . Why ?
While i didnt hold 2 jobs, i had sign on bonus when i joined a competitor firm and the sign on bonus attracted CPF contributions. From there, my excess CPF from my new job was returned to me in cash. Hence i think there is a max cap of 37.4k (ie annual limit) no matter how many jobs you hold that contribute...And if you hold 2 jobs and both contribute CPF , it will still be capped to annual limit. Anything above will be refunded. And if you are figuring how this can happen, i changed job in dec.

Finally, The idea of business man registering the sons over multiple companies and contributing CPF to the max just to beat the game and get interest is ridiculous lah. Why ?

because if you do it, then the business man basically is declaring that their children is earning income of 102k per year per job. You cant contribute to CPF by stating it is employment income yet declare later to IRAS that all income was paid in CPF only. MOM employment regulations dont allow this. [Of course, if you wish to make false declaration then that is another story]

Imagine the income tax that the business man have to pay just to earn such miserable interest on CPF for their children..... Not a very smart business man.

As i said, i dont doubt you can earn 40k in interest... but as seen in AK71,
it is difficult.. and wife + you have achieved this.. meaning you have a lots of monies in CPF... around 3 m based on rough calculations

And since you got me started... i started to re-read your post.
You mentioned 9 years ago, you had 3.3m .. now above $7m.
With a $3m CPF, your non CPF networth is 4 m.. I dont know how much you had in CPF 9 years ago, but like this discussion thread - everything is possible. So using simple maths to calculate and assume no bequest etc, then it is possible your CPF grew by $800k for both you and wife in last 9 years. That means your non CPF investments 9 years ago $1.1m with CPF at $2m. If you want to share, share about how you grew your non CPF investment from 1.1m to 4m in 9 years. Cos that is truly impressive and will like to learn from you.

Originally Posted by Unregistered View Post
Thanks, I see where the confusion lies. CPF does not allow top ups and bequests to the following CPF accounts beyond their set limits, namely

1. CPF SA - capped at FRS (if below 55)
2. CPF RA - capped at ERS (if 55 and above)
3. CPF MA - capped at current BHS.

however, there is no cap to the bequest going into the CPF OA!

It is like the HDB policy where no one is allowed to own more than one HDB flat. But when you are bequeathed with one, you are allowed to own two! Fun fact!

Likewise if you currently own a private property, you cannot buy a HDB flat without selling off your private property. But if you are bequeathed with a HDB flat, you can own both the HDB flat and the private property!
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