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Anonymous

17 May 2020

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If I have $181,000 (the full retirement sum) in my special account, will I earn 4% on all my money?

What happens if my SA have more than that amount? Will I just earn 0 interest for the amounts exceeding the full retirement sum? Asking for my parents, who have no idea how all these works.

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Hariz Arthur Maloy

17 May 2020

Independent Financial Advisor at Promiseland Independent

Hi Anon, all 181k receives 4% interest plus $600 (1% extra for first 60k), and the interest stays in the Special Account until age 55 when the FRS for that year is transferred to the Retirement Account where it'll continue to earn interest but will be then paid as CPF Life premium.

Balance SA above FRS at 55 will also continue earning base 4% interest but no bonus 1%.

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Should i top-up my CPF Special Account to the Full Retirement Sum?

Should I do voluntary contribution to my CPF Special Account to hit the Full Retirement Sum as soon as possible or to invest elsewhere with the cash on hand?

If reach Basic retirement sum or Full retirement sum, anything above it at 55, I get to withdraw from my CPF SA account?

I am a Malaysian PR and I am eligible to withdraw full amount of my CPF in either account when I decided to revoke my PR and retire early back in Malaysia. Should I transfer all my money into RA?

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