Anonymous

Edited 02 Jun 2022

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Parent 65, still RSS now, is it better to switch to CPF Life? With 5k in RA, does it make significant difference in payout if cash available for top up is not much?

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Tan Choong Hwee

02 Jun 2022

Solutions Specialist at Providend

For RSS, with $5k in RA and min monthly payout of about $297, it only lasts about 17 months. Any cash top up to RA wouldn't increase payout amount, but extend payout further.

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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

For CPF LIFE payouts, If I already have the ERS amount in my SA at 55, what is the difference if I top up RA to ERS at 55 VS topping up to ERS only at 64 before payout?

My parents' CPF do not meet the Basic Retirement Sum. If I were to start topping up their RA now making use of the Matched Retirement Savings Scheme, how will the monthly payout be decided?

What if CPF RA exceed Enhanced Retirement Sum (ERS) at age 55? If choose not to withdraw, how much CPF life can pay? Using 1M65 as an example, how much CPF life pays based on 1million balance at 65?

Is there any difference in interest if i top my CPF SA or RA account with cash? If not, how would u choose whether to top up SA or RA account?

Related Posts

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

For CPF LIFE payouts, If I already have the ERS amount in my SA at 55, what is the difference if I top up RA to ERS at 55 VS topping up to ERS only at 64 before payout?

My parents' CPF do not meet the Basic Retirement Sum. If I were to start topping up their RA now making use of the Matched Retirement Savings Scheme, how will the monthly payout be decided?

What if CPF RA exceed Enhanced Retirement Sum (ERS) at age 55? If choose not to withdraw, how much CPF life can pay? Using 1M65 as an example, how much CPF life pays based on 1million balance at 65?

Is there any difference in interest if i top my CPF SA or RA account with cash? If not, how would u choose whether to top up SA or RA account?