Almost one year ago, I wrote an article on CPF SA Shielding before RA is formed at .age 55. It is one of the several legit CPF Hacks that any Singaporeans can employ to maximise their CPF dollars to go towards their retirement funds. While we hear all the theory online, part of us is constantly thinking — are there actually people who are doing CPF Shielding for their SA or OA? Does SA Shielding work in reality? We don’t get many live examples because the people who do share willingly are just a numbered few.
This is Uncle Siew Mun. He is 55 on this year and month on the 28th Sep.
Uncle Siew Mun has been going his thought process in maximising the CPF hacks for OA and SA Shielding since early last year.
Uncle Siew Mun has planned and perfected his execution of CPF SA and OA shielding for this very important moment of his life....
Hi Lyndon
If I did maximum OA and SA shielding and set aside the minimum $60K in my RA at 55 in 2021, I understand that if I subsequently want to withdraw my CPF OA/SA, I will first need to at least top up to my BRS (which is $93K in 2021) with property pledge.
I just want to confirm the following:
(1) My BRS amount is FIXED – if I need to withdraw my CPF monies only in 2030, I still only need to top up my BRS to $93K (and not the prevailing BRS in 2030).
(2) Excluding interest earned/accrued interest – the amount I need to top up is EXACTLY $33K ($90K – $60K) regardless of when this happens (whether I am 56 or 64). Meaning the interest earned on my $60K in RA does not count towards meeting the $93K (meaning I need to top up LESS than $33K), nor am I expected to top up BRS + accrued interest up to the point I do the top up (meaning I need to top up MORE than $33K).
Thanks!