I transferred $17,000 from my OA to SA account today.
In total, I had transferred $52,000 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
Had been making transfer in the month of April for the last 3 years is because company bonus payout is in March. Thus have the extra money flowing into CPF :D
Do leave some space in your SA for RST top up of $7k to earn tax relief
ReplyDeleteHav the thought to do cash topup during yr end, provided the stock market recovered back to pre-covid price. Else will rather put the cash in stock market for greater return
Deleteif u sh die(*scenario. in an event) before a certain age before u withdraw to use. Then u will regret.
ReplyDeleteDo u mean cash topup? How do you transfer from OA to SA?
ReplyDeletehttps://www.cpf.gov.sg/eSvc/Web/Schemes/OAToSATransfer/FundTransferRequest
DeleteNot cash topup. You can transfer OA to SA using the above link
Is the online transfer from 0A to SA immediately recognised on the same day?
ReplyDeleteLets say I make a 100k transfer from OA to SA, on the 15th of the month, how is the 100K interest calculated? As I understand, interest is only given based on the lowest balance for the month in all CPF accounts.
Yeps its immediate. But u will lose interest on the transferred amount for that month (because the lowest balance for OA is post transfer, while lowest balance for SA is pre transfer). But this loss in one month interest shld not really be a consideration for the longer term
DeleteThanks 'Anonymous' for answering
DeleteAs CPF investor, $52K more in SA will also mean $18K less in CPFIS to invest in this COVID crisis. There is no free lunch in OA to SA for that additional 1.5% compound interests.
ReplyDeleteYes Uncle CW8888.
DeleteAs i just collected my HDB key late last year, thus my OA do not have much money left.
Therefore, i cant use my OA for CPFIS.