Questions on CPF Retirement Account, assuming I have reached FRS at 55 years old, a RA is formed? - Seedly
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Anonymous

Asked 5d ago

Questions on CPF Retirement Account, assuming I have reached FRS at 55 years old, a RA is formed?

Assuming I have reached FRS at 55 years old, a RA is formed.

Assuming I still have balance funds in my OA and SA after RA.

1) I am able to withdraw any of the funds in OA and SA, yes?

2) if this is the case, should I not transfer funds in OA to SA, so that I can earn the additional interest in SA?

3) I should not transfer funds into RA if I need to stick to FRS scheme and I won’t be able to withdraw the funds in RA till 65 years old. Am I right?

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    Elijah Lee, Independent Financial Advisor at Phillip Securities (Jurong East)

    Elijah Lee, Independent Financial Advisor at Phillip Securities (Jurong East)

    Top Contributor

    Top Contributor (Dec)

    Level 10. Unicorn

    Answered 4d ago

    Hi anon,

    1) Yes. The order is SA first and then OA.

    2) You cannot transfer OA monies to SA after 55

    3) You can leave money in SA to compound after 55, so that you retain flexibility to transfer to RA later if you really wish to, and yet still get a decent 4% interest

    2

    Question Poster

    4d ago

    Thank You! Check with u, after 55, I can still my funds in OA and SA at any time, ya?
    Elijah Lee
    Elijah Lee

    4d ago

    Yes, any amount above FRS can be withdrawn from your SA/OA after 55.
    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post
    D

    Deedee

    Level 6. Master

    Answered 5d ago

    1) yes, there's some order of funds being withdrawn. Think is SA interest, OA interest, SA then OA.

    2) I think above 55, one can only transfer funds from OA to RA to form ERS. Hence, why people suggest to do SA shielding before turning 55, so funds in RA will be formed by funds in OA first.

    3) not sure about withdrawing from RA.. Think there's a cap of 20%

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post

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