As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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Saturday, 31 October 2020



A shop assistant who is few weeks before reaching 55 and his real conversation with CPF 过来人

Assistant : Can I ask you sensitive question on CPF as I am reaching 55 in a few weeks. You are CPF 过来人  ?

Uncle8888: Of course, you can!

Blah blah ....

He is single and both parents had passed away and currently living in three room HDB with one room rented out. But, over the years; he doesn't like the "ma fan" with tenants and thinking of downgrading to 2 room HDB; but he heard that the money has to be refund back to CPF. He asked Uncle8888 chun bo? 

He said he doesn't bother to read on CPF and also didn't bother to attend zoom session with CPF on "Reaching 55 session".

Ask CPF 过来人 better!


1. He doesn't invest and unlikely to invest too!

2. He is not into digital! No PayNow! Counting paper money best!

3. He has few FDs with banks!

4. As shop assistant, he works over weekends and long hours! The shop only closes for 5 days during CNY! i.e. 360 workdays with leaves and rest days in the weekdays!

Uncel8888 broke the news of Best 55th Birthday Present from CPF; but he got a few weeks to seriously about it before reaching 55 to get the current saving rate in Singapore!

CPF after 55 is his best saving bank in Singapore! His eyes open wide and looking at Uncle8888 like Chun Bo?

First thing first. Ask him to get a PayNow and will receive his money from CPF after 55 within 10 seconds!

Before the clock strikes at midnight at 55; he can consider refunding any amount of his housing loan back to CPF and treat it as his saving bank to earn the best rate now and any time; he can withdraw the refunded money! 

BTW, he also doesn't bother with what is 4% compound interest in CPF SA and NOT so interest CALCULATIVE! LOL!

Probably; he is a simple man with simple needs and works long hours and so left with little energy and time to think too much! 

Too much time on hand; we may tend to think and worry too much! True right?

Hmm .. should CPF sponsor Uncle8888 with T-shirt : Ask Me Anything on CPF! LOL!


  1. Can ask me too! Lol. I refunded all monies used for property + accrued interests 3 years ago before i turn 55 this year.

    1. Actually CPF can save all those sponsored ads and CPF articles by inviting non vested commercial interests to share real life CPF members experience

  2. i don't understand.
    My time was compulsory to return everything b4 55-if U sold your house.
    Now got choice meh?

  3. If member has about twice FRS (181K x2), then should apply to withdraw some money like $100 upon reaching 55 under "withdrawal at 55", several weeks boefore 55.
    RA will then be created a few days before 55. Member will transfer from OA to SA up to 181K in SA during the few days before 55 thus getting 4% interest instead of 2.5%.

    1. Wow u achieved using this method?

    2. I used this method 2 yrs ago. Spouse last yr also same method.
      Hope they don't close this loop hole.

    3. Hi Joe
      What did you invest in using the SA prior 55? Is there is any lockin period, admin fees etc, there will still be some risks, isn't it. Also how long it took before you refer back to SA?

    4. Joe
      Why the need to withdraw at 55 ?

    5. Hi Joe, if I understand correctly, so RA will be created a few days before 55 if you withdraw say $100. FRS will then be transferred from SA to RA. Then you transfer another sum equivalent to the FRS from OA to SA ?

    6. Don't think its possible since OA to SA was already banned before 55 if one has reached FRS. Those reach 55 this year can try and share.

    7. I also tried topping up to my SA last year after reading blogs but also not allowed. LOL. Loop holes may have been closed.

    8. what Betta say is almost correct.
      Assume u have 250k oa + 200k sa, 55th birthday is 22.10.2020. U apply to wthdraw $1 online upon reaching 55. RA is created on 20.10.2020 with 181k and $1 is deposited to ur account on 22.10.2020, leaving 250k oa + $18,999 sa.
      And u have only 20.10.2020 or 21.10.2020 to transfer $(181000-18999) from oa to sa, since u are below 55.
      Hope that helps. and loop hole is not closed. Maybe 8888 should ask shop assistant to try

    9. "U apply to wthdraw $1 online upon reaching 55."
      U apply to wthdraw $1 upon reaching 55, weeks before 55.

  4. Replies
    1. Hi,
      What are the options to trfr the SA funds to? And for how long? There is still some risk if the SA invested into something that got locked up.

    2. Really can transfer from OA to SA upon 55?

      I asked CPFB - If I request to withdraw upon 55, when is my RA created? CPFB replied is such that I cannot do as per what Joe mentioned above.

      Anyone else (besides Joe who has tried) has tried and can advise please?

  5. After 55 still can refund OA for housing loan used?

    1. Have you fully repaid your CPF OA housing loan> if Yes, you can't refund once you reach 55 as the outstanding housing loan in your CPF OA is cancelled and no longer in the CPF system.

      Read? Turning 55 - and enjoying financial freedom (2) - Refresh


  6. Hi 8888, I sold my house after 55 and cpf refund amount used including interest to my OA.
    CPF high level send me a letter and gave me 2 weeks to notify whether to keep it in OA or send cheque to me.
    I was not well and working , cpf send me cheque after 2 month.
    CPF didn't call me or remind again, I don't want to take out my money, CPF go into my account to issue cheque. Crazy!
    So all those 55 above watch your money in cpf

    1. OIC. Credited into OA and then cash out. So it is different of refund of housing loan after 55. Default is cash out!

    2. I didn't ask cpf to cash, they did without asking. If I owe cpf, they will send multiple messages, phone calls and warning.
      I never reply they just ignore. What a system and CPF team is sleeping on me it. Crazy

  7. i think at 55 RA is created for us even if do nothing.


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