facebookFor CPF, after age 55, can top-up any amount in SA account to earn the 4% interest rate, eg $50k? And afterwhich can withdraw any amount anytime? Or have to top-up just below age 55? - Seedly

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R

RC

31 Jul 2020

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CPF

For CPF, after age 55, can top-up any amount in SA account to earn the 4% interest rate, eg $50k? And afterwhich can withdraw any amount anytime? Or have to top-up just below age 55?

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Hariz Arthur Maloy

Hariz Arthur Maloy

31 Jul 2020

Independent Financial Advisor at Promiseland Independent

Top ups direct to SA (before 55) / RA (after 55) via the Retirement Sum Top Up Scheme (RSTU), is set aside specifically for CPF Life.

Which means you would not be abe to withdraw it like a bank account. It will be converted into monthly payments from the Payout Eligibility Age for life.

Mandatory or Voluntary Contribution however would be available. But this is divided into the 3 accounts, OA, SA, MA and follows the contribution split of your age and has a $37740 annual cap. There's a way to increase that limit via another job, but I shall not expand on that.​​​

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