Anonymous

18 Oct 2020

∙

I just turned 65, started CPF Life payout of $1,800. Should I transfer my OA funds to SA for AMP?

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Hariz Arthur Maloy

18 Oct 2020

Independent Financial Advisor at Promiseland Independent

Hi Anon, after age 55, you cannot transfer OA to SA but you can transfer OA to RA however up to the Enhanced Retirement Sum only.

You can do this to get a higher monthly payout but you lose flexibility to withdraw it as a lumpsum.

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Let’s say I just turned 65 and started drawing from CPF Life. If something happens to me next month and i leave this world, what happens to all the funds that I enrolled into CPF Life?

What happen to CPF RA (Retirement Account) money when someone pass away? What is the difference, - pass away < 65 CPF LIFE starts vs. - pass away > 65 after CPF LIFE payout starts

45 yrs old, saving for retirement. I'm thinking of investing my OA aggressively using Endowus. But does that mean I need to liquidate all my funds by 65 yrs old latest to optimize CPF Life payouts?

Should I top up my CPF RA to ERS. I have enough OA balance to cover it (assuming I do a OA to RA transfer). I understand that the transfer is irreversible; and I get to enjoy higher payouts from age 65. Should I do the transfer or leave it in OA?

Should I a) use my CPF OA funds to invest in Endowus or b) transfer my OA balance into SA to earn 4% interest? (Assume house is already bought and no other use for OA funds)?