My CPF balance shot up to S$620,000 because all my CPF OA monies in 6-months T-bills were refunded back to the CPF OA account. Age 45 this year, born in year 1980!
My CPF OA monies had gone through the OCBC CPF Time Deposit of 3.88% for 8 months tenure, 6-months T-bill of 3.95%, 3.85%, 3.7%, 3.54% and the last one 3.34%.
It is easy to project the CPF balance by putting the expected annual CPF contribution (37% of wage for age 55 and below, with CPF monthly salary ceiling of S$7,400 this year and S$8,000 next year onwards) into the Excel table.
It is interesting to find out I will reach S$1 million balance at the age of 50.
At the age of 55, I will have S$1.40 million in the CPF account.
By then, my expected FRS (at my age of 55) is S$300,800 and BHS is S$110,000.
Both figures were derived from the expected yearly increment of 3.5% and 4%.
