Hi, I have already reached the FRS, and am no longer allowed to transfer my OA to my SA. What else can I do to emulate your CPF investment journey please? Should I top up my MA? Thank you. - Seedly
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AMA 1M65

Anonymous

Asked on 11 Nov 2018

Hi, I have already reached the FRS, and am no longer allowed to transfer my OA to my SA. What else can I do to emulate your CPF investment journey please? Should I top up my MA? Thank you.

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Yeow Ih

Yeow Ih

Level 3. Wonderkid

Answered on 25 Feb 2020

Just my 2 cents, there are many ways to maximize your CPF. Following are some;

  1. Since you have reach the ceiling of SA & MA for current year, you still be able to top up the differrent to the new ceilings in subsequent years, i.e. SA is $7k per year. Not sure about MA.

  2. Top up your loved ones' RA by cash if they have not reached their ceilings. Besides earning higher interest for them, you can claim $7k tax rebate automotically.

  3. You can top up the shortfall of max annual CPF contribution of $33740. CPF will allocate it to various accounts but I guess it will be OA for u. Any excess will be credited back.

You can do that online. Alternatively, you can make an appointment to CPF board at begining of the year to review the accounts and make the top ups. ​​​

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Jim Ng

Jim Ng

Level 6. Master

Updated on 07 Jun 2019

Hi.

How far are you away from your Basic Healthcare Sum (BHS) ?

Also, are you currently still working?

If you have not achieved your BHS, you can consider topping up to ensure that you hit the BHS.

Once you've attained the BHS, CPF will prevent you from topping up anymore monies to your MediSave account.

The only way you can further leverage on the CPF investment journey is through your employer contributions or your own Mandatory Contributions (MC) if you are self employed.

So.. do calculate how far away are you from your BHS, before making a wise decision whether or not to top up to your MA.

All the best to you in your CPF journey :)

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Question Poster

07 Mar 2019

I've reached the BHS, and will continue to work for another 30 years I think, as I'm 35 yo now. What do you suggest please?
Jim Ng
Jim Ng

08 Mar 2019

If you've reached the BHS, CPF will not allow you to top up any more monies to your Medisave Account. So you can try maxing out the sums you're able to top up to your OA and SA respectively. I assume you're a conservative investor as you're using the CPF approach. You can even max out the SSB's 100k limit for each individual in this case. And then touch on great current accounts like UOB One, OCBC 360 which gives above 3% interest rates given minimum spending on a monthly basis. (things like your utility bills, insurance and so on counts) Cheers.
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