Anonymous

20 Apr 2020

∙

CPF is ultra confusing and I have a hard time understanding it. My mum has only 25k in her OA and SA combined. MA has ard 22k. She is turning 55 next year. Does she qualify for FRS/CPF Life?

I understand to be on CPF Life, she needs to have 60k by 64.5 years old. Does the BRS and FRS matter here? I am hoping to help her reach FRS by 65 years old. Is there like a time limit that she needs to hit FRS? Is it like by 55 years old she needs to reach there otherwise her CPF Life would be capped at the BRS? GOSH ITS CONFUSING THINK MY CONCEPT ABIT SCREWED UP.. Appreciate a detailed reply please halp :(

17

Discussion (17)

What are your thoughts?

Learn how to style your text

Ching Li Chew

20 Apr 2020

Cpf will be implementing a matched retirement savings from 2021-2025, good opportunity to tap on this to boost your family member’s cpf if they qualify.

Reply

Save

Colin Lim

20 Apr 2020

Financial Services Consultant at Colin Lim

I would like to add on apart from what the rest has mentioned...

if i am in your position, i would think of alternative than CPF..

is your mom still working? will she be working after 65?

are you staying with your mom? are you married...there are tons of factors that i need understand before i can come up with a solution.

an example is if you married and not staying with your mom, you can ask your mom to rent out spare rooms? or your mom can stay with you? or you continue to give allowance to your mom.

Reply

Save

View 3 replies

Yang Teng

20 Apr 2020

55:

Retirement Account (RA) created (OA + SA)
Option to withdraw from CPF:

up to $5,0...

Write your thoughts

Related Articles

Related Posts

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?

I will be 55 next year & have enough in my OA to meet the ERS. I want CPF to meet the ERS fr my OA so I want to invest all my SA $. How can I do this? So far I see investments allowing $ from OA only?

Hi I'm 24F planning to top up CPF, my mum is 58F this year she has 500 in OA, 5k SA and 2k MA. should I top up her CPF?

My mum is 49yo this year and is a kitchen helper earning around 1.8k per month before cpf deduction. OA - 11K, SA - 13K, MA - 12K Currently paying 711 for house with 15 years left (110k). What to do?

Related Posts

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?

I will be 55 next year & have enough in my OA to meet the ERS. I want CPF to meet the ERS fr my OA so I want to invest all my SA $. How can I do this? So far I see investments allowing $ from OA only?

Hi I'm 24F planning to top up CPF, my mum is 58F this year she has 500 in OA, 5k SA and 2k MA. should I top up her CPF?

My mum is 49yo this year and is a kitchen helper earning around 1.8k per month before cpf deduction. OA - 11K, SA - 13K, MA - 12K Currently paying 711 for house with 15 years left (110k). What to do?