Advertisement

Ting Han

26 Jun 2019

∙

Hi guys, I achieve the FRS when I hit 55, is it advisable to do a monthly transfer of the balance of my monthly CPF OA contribution to my CPF SA after the mthly deductions for my HDB loan repayment?

More details on my question above, this would mean that my OA account would not have any increase in amount on a monthly basis (as the balance left from monthly contribution would be transferred to SA), other than the interest earned on the $20k left in my OA account. This is with the plan of leaving $20k balance in my OA upon my collection of my HDB flat in the near future.

9

Discussion (9)

What are your thoughts?

Learn how to style your text

Benjamin Chong

4d ago

Take fun surveys and vote for your favourite hot topics on Milieu Surveys! Earn points when you take surveys and redeem it for cash, vouchers, transport credits and even charity donations!

Download the Milieu Surveys mobile app on the App Store here - https://apple.co/2MmnprL or the Google PlayStore here - https://goo.gl/eTHTya

When you sign up key in the referral code 6RXyXgu

Reply

Save

Cryotosensei

07 Feb 2023

Blogger at diaperfinancingfund.blogspot.com

That's what I did. But I was really confident that I wouldn't use my CPF OA for anything else, not even for my child's college payments haha

Reply

Save

CPF Board

26 Jun 2019

Hi Ting Han,

Transferring your Ordinary Account (OA) savings to your Special Account (SA) is only ...

Write your thoughts

Related Posts

In my 30s and on a 25-year HDB loan of 350k paid monthly through CPF, should hit FRS by my 40s. Is it sensible to pay the HDB loan thru excesses in OA once I hit FRS, instead of getting a bank loan?

Turning 48 here, oa -0 (paid flat) sa-60k ma-54k this month onwards cpf contri oa -1150 sa-500 oa-480 ma-600 when i 55. with this can I hit the FRS how much every month do i need to top up?

47 years old, 2k in oa and 64k in sa, and 55k in ma, 25k to pay off hdb loan how much must I have in sa to reach the frs at age 55? and once u hit the frs at age 55. u still only can take out 5k?

Would it be better to pay HDB repayment using CPF OA through a monthly recurring voluntary contributions (VC) to your three CPF accounts (non-tax deductible)?

If I buy a resale HDB before selling and take a 2nd HDB loan, between the refund to CPF and HDB wipe out of OA, can I transfer part of the OA to SA? Or must all refunded CPF go to the new HDB loan?

Related Posts

In my 30s and on a 25-year HDB loan of 350k paid monthly through CPF, should hit FRS by my 40s. Is it sensible to pay the HDB loan thru excesses in OA once I hit FRS, instead of getting a bank loan?

Turning 48 here, oa -0 (paid flat) sa-60k ma-54k this month onwards cpf contri oa -1150 sa-500 oa-480 ma-600 when i 55. with this can I hit the FRS how much every month do i need to top up?

47 years old, 2k in oa and 64k in sa, and 55k in ma, 25k to pay off hdb loan how much must I have in sa to reach the frs at age 55? and once u hit the frs at age 55. u still only can take out 5k?

Would it be better to pay HDB repayment using CPF OA through a monthly recurring voluntary contributions (VC) to your three CPF accounts (non-tax deductible)?

If I buy a resale HDB before selling and take a 2nd HDB loan, between the refund to CPF and HDB wipe out of OA, can I transfer part of the OA to SA? Or must all refunded CPF go to the new HDB loan?

Advertisement