Friday, October 2, 2020

Transferred $20,000 from CPF OA to SA for Oct 2020


I transferred $20,000 from my OA to SA account today.

In total, I had transferred $72,000 since 2017.

i) $10,000 in Jan 2017 (Link)
ii) $10,000 in Feb 2018 (Link)
iii) $5,000 in Apr 2018 (Link)
iv) $10,000 in Apr 2019 (Link)
v) $17,000 in Apr 2020 (Link)
vi) $20,000 in Oct 2020

The objective of doing these transfer is to meet Full Retirement Sum (FRS) as early as possible so that I do not have to worry about the yearly increasing amount to FRS.

Based on past statistic, the yearly increasing amount is less than 4% which CPF SA interest % will be able to cover this even I no longer working the moment I were to hit the FRS amount in any year (Tips #15 & #16 in Link).

To escalate the process of hitting FRS, I also started to do Retirement Sum Topping-up (RSTU) this year.
Target to top up $7,000 cash into CPF SA by end of the year, so that I can enjoy tax relief for this action too.

The next plan once I hit FRS is to do Supplementary Retirement Scheme (SRS) for my tax relief. I guess this is a happy problem to be able to jump into this next stage.

Related post: 


  1. FRS needs to be doubled or tripled. It is too low already.

  2. If you hit FRS before 55, does it mean it is fixed regardless of how much it increases next time at 55?

    1. No, it is not fixed.

      Once you hit FRS amount before 55yrs old, the interest rate of 4% is enough to cater for the increase of FRS amount based on past few yrs numbers (increase of FRS amount is less than 4%)