Age 55 how much can i take out? and after 65 how much

Will i hit frs when im 55?

HI,

48 years old now

oa-0(fully paid upped hdb flat)

sa- 70k

ma-58k

montly contribution form work

oa- 1197

sa-503

ma -629

Monthly salry is

12,100

take home pay -9,060.42 (the rest goes to some stock thing ),

Should i top up my ma by end of this year to hit 72k bhs so that next year $629 will overflow to my sa and gain more intrest?

I also have a srs account with 10 dollars

Once i hit 55 will i have frs? and if i do how much can i take out above my frs? or i will just be normaland save my money instead of contributing to my cpf

4

Discussion (4)

What are your thoughts?

Learn how to style your text

Anonymous Poster

Edited 08 Jan 2024

Thank you @1m45, but i dont plan to keep my oa every month as well., i will be trfering to my sa. evey month. so eveymonth for the next 7 years iam tx. -1197 to my sa as well as the normal 503, also consideing i wll hit the ma the max end of this yer., evyehting sill start to flow to sa as well next year?

Reply

Save

View 1 replies

tinycents

08 Jan 2024

If u like CPF system then top up and enjoy the system, if not do your own thing. If worried that cannot manage money or due to whatever reason that u feel some money will be spent or gone then lock it up with CPF for retirement purpose.

Reply

Save

1M45

07 Jan 2024

Your FRS should be ~$262k

https://blog.seedly.sg/singapore-retirement-cri......

Write your thoughts