cpf
today abt cpf, mayb 2morrow hdb keke
Special Acc
We can withdraw from CPF when you turn 55, after setting aside your CPF Minimum Sum.
CPF Minimum Sum can be used to buy life annuity. From 62 (current draw-down age), we then receive monthly payments from your CPF Minimum Sum. If you had bought a life annuity, you will receive the monthly income for life. Else you will receive the monthly income until your CPF Minimum Sum is exhausted.
The CPF Minimum Sum is set at $106,000 from 1 July 2008 and will be raised gradually until it reaches $120,000 (in 2003 dollars) in 2013.
Medisave Acc
The Medisave Required Amount is set at $18,000 from 1 January 2009 and will increase by $2,500 (to be adjusted for inflation) each year until it reaches $25,000 (in 2003 dollars) on 1 January 2013.
Ordinary acc is for buying house
CPF Interest Rates (01 Jan 2009 to 31 Mar 2009)
Ordinary account 2.50% p.a.
Special, Medisave & Retirement accounts 4.00% p.a.
Contribution ratio
Ordinary Account 67%
Special Account 14.49%
Medisave Account 18.84%
Special Acc
We can withdraw from CPF when you turn 55, after setting aside your CPF Minimum Sum.
CPF Minimum Sum can be used to buy life annuity. From 62 (current draw-down age), we then receive monthly payments from your CPF Minimum Sum. If you had bought a life annuity, you will receive the monthly income for life. Else you will receive the monthly income until your CPF Minimum Sum is exhausted.
The CPF Minimum Sum is set at $106,000 from 1 July 2008 and will be raised gradually until it reaches $120,000 (in 2003 dollars) in 2013.
Medisave Acc
The Medisave Required Amount is set at $18,000 from 1 January 2009 and will increase by $2,500 (to be adjusted for inflation) each year until it reaches $25,000 (in 2003 dollars) on 1 January 2013.
Ordinary acc is for buying house
CPF Interest Rates (01 Jan 2009 to 31 Mar 2009)
Ordinary account 2.50% p.a.
Special, Medisave & Retirement accounts 4.00% p.a.
Contribution ratio
Ordinary Account 67%
Special Account 14.49%
Medisave Account 18.84%
posted by Kongming at
10:36 pm
1 Comments:
"If you had bought a life annuity, you will receive the monthly income for life. Else you will receive the monthly income until your CPF Minimum Sum is exhausted."
Annuity is for life but it pays less,
I think if you just use the min sum, it can last 20 years, but you get more every month, right?
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