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

AMA 1M65

Asked by 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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Jim Ng
Jim Ng
Level 5. Genius
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.