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28 Jul 2021

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Can a retiree above 65 do Vc3a to put more money into OA, MA & SA?

Don't want to top up RA as want to have the flexibility to withdraw.

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Tan Choong Hwee

Edited 28 Jul 2021

Investor/Trader at Home

There is no age limit for VC3A, but the allocation rates to OA, SA & MA would be according to your age group:

https://www.cpf.gov.sg/Assets/employers/Documen...

For the "above 65" age group, the allocation rates would be 8%, 8%. 84% of your contribution to OA, SA & MA respectively. If your MA already maxed out at the BHS when you were at age 65, then the MA contribution will flow to RA if you still yet to meet FRS, otherwise it will flow to OA:

https://www.cpf.gov.sg/members/FAQ/schemes/Heal...

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When you want to calculate your net worth, should you include the cash value in your whole life insurance policies and money in your CPF accounts (OA, SA, MA)?

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