Salary.sg Forums - View Single Post - How much are you earning per annum?
View Single Post
  #8423 (permalink)  
Old 19-08-2015, 08:02 PM
Unregistered
Guest
 
Posts: n/a
Default

Good for you.

If you are still working, at 55, your SA amount will grow by:

1. 3 year of interest earned by your SA = (5% x 40k)x3 + 158k x 4% x 3 (using simple interest) = $6k + $18.96k = $24.96k

2. 3 year continuing contribution ($525 pm) = $6.3k x 3 = $18.9k

So at 55, your SA will grow to : $198k + $24.96 + $18.9k = $241.86k at least.

If you are no longer working, then your SA will grow to $222.96k when you reach 55 just by simple interest calculation. It will be more in reality because the interest should be compounded.





Quote:
Originally Posted by Unregistered View Post
I am 52 and i have 198k in my SA. Like you, i maxed out my SA many years ago.

Reply With Quote