How much CPF do u have? - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > CPF (Central Provident Fund)

CPF (Central Provident Fund) All about OA, SA, MA and RA, and strategies to optimize your CPF




How much CPF do u have?

Reply
 
Thread Tools
  #1 (permalink)  
Old 04-06-2013, 10:19 AM
Junior Member
 
Join Date: Jun 2013
Posts: 4
Rhys is on a distinguished road
Default How much CPF do u have?

Hi im 3mth before 31 with only 40k in OA and 11k in SA. 15k cash. At this rate, I dun think I can survive in SG... Im currently in logistic field with non relevant diploma. Any advise for me to upgrade my salary?

BR
Lost Sheep

Reply With Quote
  #2 (permalink)  
Old 04-06-2013, 11:03 AM
Junior Member
 
Join Date: Jun 2013
Posts: 4
Rhys is on a distinguished road
Default

I have a building and facility dip. Should I consider hop back to what I studied?

Reply With Quote
  #3 (permalink)  
Old 04-06-2013, 11:35 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Rhys View Post
I have a building and facility dip. Should I consider hop back to what I studied?
Hey Rhys, you started a good discussion topic on CPF amount but you hijacked it to talk about career issues.

The CPF issue got into the spot light recently because our Gahmen think it should be sufficient to sustain low to middle income earners by the time they retire assuming they managed to achieve the required minimum sum. This sum would then be used to purchase an annuity plan that pays out a monthly sum from 65 till the recipients pass on.

Currently the minimum sum required is $148K (from Jul 13). I see it continuously increasing every year to keep pace with inflation, possibly by $10K a year.

Is it realistic for young workers to meet / catch up with this amount? I am not sure.

For older workers like myself, in the initial years, I was behind in the amount. But I took the plunge and transfer money from my OA account to meet the minimum sum then. Because of the relatively high interest rate of 4%, my SA amount now is always above the prevailing minimum sum. For eg, my SA amount is now $180K against the required $148K.

But I dont think I can just rely on the annuity payout when I reached 65. I am looking at other income sources.



Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


Bursa Stocks Android App - check share prices
Bursa Stocks [Android] App - check latest share prices on the go


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #4 (permalink)  
Old 04-06-2013, 11:42 AM
Junior Member
 
Join Date: Jun 2013
Posts: 4
Rhys is on a distinguished road
Default

Min sum is OA + SA/RA? **** man I have buy hdb yet... im in deep ****
Reply With Quote
  #5 (permalink)  
Old 04-06-2013, 11:42 AM
Unregistered
Guest
 
Posts: n/a
Default

Wife and me. Late 30s. OA+SA+Medisave = 400k. Still paying $1.8k a month for our first EA HDB.
Reply With Quote
  #6 (permalink)  
Old 04-06-2013, 11:49 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Rhys View Post
Hi im 3mth before 31 with only 40k in OA and 11k in SA. 15k cash. At this rate, I dun think I can survive in SG... Im currently in logistic field with non relevant diploma. Any advise for me to upgrade my salary?

BR
Lost Sheep
How many years of working exp u have? Anyway it depends who u are comparing with. If you compared to higher earners of coz u feel like a loser, if you compared to low earners of coz you feel like a winner.

At the end of the day, dont need to compare. You want compare sure compare against yourself ie set a goal eg by what age u want to earn what amount and from there see whether u have the capability or skillset to achieve it

Like what the others had say early start investin early be it properties, annualties, stocks, bonds etc coz time is on your side now. Btw u married? If not why u worry so much? Wait till u get married then u come post here and tell me whether what you have is sufficient or not hahaha
Reply With Quote

  #7 (permalink)  
Old 04-06-2013, 11:59 AM
Junior Member
 
Join Date: Jun 2013
Posts: 4
Rhys is on a distinguished road
Default

Not married. Earning 3k mthly. Still got non working-parents obligation. Just scared not enough money retire.
Reply With Quote
  #8 (permalink)  
Old 04-06-2013, 12:13 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Wife and me. Late 30s. OA+SA+Medisave = 400k. Still paying $1.8k a month for our first EA HDB.
Congrats another potential millionaire in the making. Btw do u feel its much fairer to not include your wife's cpf coz its combined and our friend here is only individual cpf so its not apple to apple comparison hahaha
Reply With Quote
  #9 (permalink)  
Old 05-06-2013, 02:21 PM
Unregistered
Guest
 
Posts: n/a
Default

am a male turning 29 this year


Ordinary Account (OA) $49k
Special Account (SA) $13k
Medisave Account (MA) $18k
Reply With Quote
  #10 (permalink)  
Old 05-06-2013, 03:30 PM
Unregistered
Guest
 
Posts: n/a
Default

Male/33.

Ordinary Account (OA) $17k
Special Account (SA) $48k
Medisave Account (MA) $43k

100K odd OA went into housing.

Healthy status?
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


» 30 Recent Threads
GovTech ( 1 2 3... Last Page)
5,165 Replies, 2,165,595 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
682 Replies, 389,277 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
208 Replies, 134,774 Views
Career as Teacher ( 1 2 3... Last Page)
10,867 Replies, 6,674,828 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,460 Replies, 785,172 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,810 Replies, 1,045,993 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,331 Replies, 4,986,194 Views
Lawyer Salary ( 1 2 3... Last Page)
21,016 Replies, 10,332,852 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,051 Replies, 440,998 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,386 Replies, 2,325,497 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
172 Replies, 309,893 Views
Compare civil service salary ( 1 2 3... Last Page)
16,346 Replies, 12,459,768 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,331 Replies, 1,142,820 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
311 Replies, 369,674 Views
Why Is Having a Google Virtual...
1 Replies, 6,803 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,400,501 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,563 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,576 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,773,980 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,775 Views
Is getting a PMP worth it ?
4 Replies, 7,189 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,870 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,455 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,658,170 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,129 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,861 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 359,102 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,376,081 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 614,089 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,740,149 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 10:52 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2