One year has passed so fast! To confirm below understanding in Dec 2016 For retirees thinking of using their CPF to build fixed income annuity; the best time to withdraw all these interests from SA, OA and MA is at first two weeks in every December after 5th December when interests for November has been credited. You will have 11 months of interests to withdraw. That is max and leaving interests for Dec to become principal in the following year. We will have perceptual fixed income annuities for life with our principal intact for beneficiaries. Good? Right? Uncle8888 today went to CPF Branch to apply for withdrawal of interests in CPF SA and CPF OA from Jan to Nov 2017. The counter staff repeated several time before the actual application of withdrawal of CPF interests is ESTIMATED to be $23,XXX. LOL! Uncle8888 told her he will just withdraw $23,000. Ha ha! Uncle8888 told her next month he will come again to withdraw interests for Dec 2017. She replied that he can't withdraw any interests next month as in Jan 2018. All interests in CPF for 2017 will be credited and become principal in Jan 2018.
I am 61 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and retired @ 60 from full-time job as employee.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 2nd year uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Last updated: 3 Sep 2017
Disclaimer: Stock trading involves significant risks. Create Wealth trader is not a licensed Investment Adviser and will not be responsible for any losses which you incurred. You are advised to always do your own homework before making any trading decision.