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Tencent bounces back: What to know about China’s tech giant
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About Tencent (SGX: HTCD): A Global Leader in Digital Services Established
in 1998, Tencent has become one of the most recognised companies in China
and ...
5 hours ago
CPF-OA to SA... mmm.. technically it is more effective and efficient.
ReplyDeleteHowever, it has to depends on one circumstance.
Just don't fall into Asset Rich but Cash Poor.
I did the transfer once from CPF OA to CPF SA and on the following year I thought even harder. Is there second good reason to do so?
DeleteNo. Then I stopped and never look back.
My wife nominated to three children
ReplyDeleteMe --> Wife --> Three children (Cash distribution)
Will: Me --> Wife --> Three children
temperament,
ReplyDeleteI was scratching my head - what CPF EHS?
Oh it's CPF Enhanced Nomination Scheme (ENS) lah!
It's cool.
CW wrote its cash distribution to children; not CPF ENS to children ;)
If not, I would poke him until he cries, "Mother!"
Me --> Wife CPF ENS --> Children (cash)
ReplyDeleteNo Me -XXX-> Children leh.
I encouraged my wife to transfer all her CPF OA to CPF SA since our apartment is fully paid. We don't intend to upgrade. This would allow her to reach $161k in her SA by the time she reach 55. She will have a good problem to solve 10 years later.
ReplyDeletePlan in decades, think in years, live in days.
nice quote
DeleteAnother way of looking at it ....
ReplyDeleteTrf or contribute to SA when cash flow allows to churn interest for mortgage pmt at 55 as amounts in excess of cpf min sum can be withdrawn. By then can pay for remaining mortgage balance (if any)
I am all for transfering OA to SA aftering setting aside for housing loan. However, i am not for minimum sum top up scheme as the monies topped up will be locked into CPF life scheme. We know that payout eligibility age can only go up and i am not comfortable with that.
ReplyDeleteRecently, I moved a fair bit from OA to SA. The minimun sum grows at 3%, the SA account earns 4% interest. After a few more years of working, I would be able to satisfy the minimum sum just using the SA account and use the annuity as a basic level insurance against longevity risk. I cannot take it out, I might as well include it as part of my retirement planning.
ReplyDeleteYou are correct to point out that people who move money from OA to SA tend to have more balance in their OA. I have enough for my loan with extras in case my place goes enbloc.
The other person that I know who move OA to SA earns a very very substantial salary and is risk adversed. She make additional SRS and CPF contribution every year to minimum taxes.
Hope your enbloc is successful. I have >$161K in my SA and getting ~4% interest compounded annually for next 5 years. I will decide on the Basic Retirement Sum, Full Retirement Sum or Enhance Retirement Sum when I turn 55. In the meanwhile I will let time work its magic.
Deleteno need to decide upon 55, can delay a bit if you have FRS.
Deletei checked with CPF.