Anonymous
Should I transfer my excess in my CPF OA to my SA?
Let’s say I set up a higher amount for purchase of a resale flat at $700k (better to set higher amount for 4-rm) 5% cash = $35k and 15% cpf OA = $105k. Does it mean if any excess In cpf oa more than $105k, I should transfer excess in OA to SA now?
Ps. Not looking or buying now, so OA will still accumulate more
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Hi,
it really depends whether you want to grow cpf aggressively to help you in yr retirement.
Since you have already put aside the money needed for your house and you have NO other purpose to use yr remaining OA money, growing yr SA with OA money is a logical choice.
No doubt you can top up yr SA using RSTU. Do note that, top up money can't be withdrawn after 55 even if you have reach FRS.
It will be reserved and form part of yr FRS. You can view the money reserved at the last part of section A in yr CPF account.
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Shengshi Chiam, CFA
27 Jan 2020
Personal Finance Lead at Endowus
Its great that you are taking responsibility of your personal finances, and are questioning the usua...
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I used most of my CPF OA monies for mortgage, so it is constantly at a low value.
You may want to transfer to SA if you have small amounts because investing it is inefficient