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Anonymous

09 Dec 2021

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SRS vs CPF retirement age

Saw this article: https://blog.seedly.sg/supplementary-retirement...

May I know is there a link between the lock-in retirement age for SRS and CPF？I would like to lock in the retirement age of CPF through topping up $1 into SRS. Is this possible?

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Tan Choong Hwee

Edited 09 Dec 2021

Investor/Trader at Home

Nope, SRS and CPF are totally different schemes.

SRS penalty free withdrawal age is tied to the official retirement age at the time of opening SRS account, hence the $1 lock-in hack.

CPF RA creation age is set at age 55. Once meet FRS in RA, you can freely withdraw cash from SA/OA savings. You can start your CPF LIFE monthly payouts at age 65 or postpone to age 70 (known as Payout Eligibility Age). All these ages (RA creation age, SA/OA withdrawal age, Payout Eligibility Age) are set by CPFB, and not tied to official retirement age.

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Understand that topping $1 to the SRS account effectively locks in our retirement age at 62. However what does this really mean? Is there any impact on our CPF withdrawal age?

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Understand that topping $1 to the SRS account effectively locks in our retirement age at 62. However what does this really mean? Is there any impact on our CPF withdrawal age?

Can I fully withdraw my CPF and opt-out of CPF life without an annuity plan by age 65, or whatever the new retirement age is?

If today you’re a self employed and have $20k set aside for tax reduction, which would you choose and why? CPF voluntary contribution VS CPF Cash Top up relief VS SRS contribution?

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?

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

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