What is the impact to me for the CPF closure of Special Account (SA) at age 55 ?

My numbers are out.

With CPF Special Account (SA) force closed at the age of 55 and with "no CPF SA shielding", the impact for me would be:

(1) At my age of 65, liquidity dropped S$130K
(from S$1.28 million to S$1.15 million).

(2) At my age of 65, CPF balance dropped S$100K
(from S$1.9 million to S$1.8 million).

Well, we can always use CPF OA to buy DBS, SATS, SIA, Mapletree Industrial Trust or 6-months Singapore T-bill (if the yield is above 3.00%).

I can also draw out the CPF OA monies to help my son to buy private property with no ABSD!

Be water!

Break S$1 million milestone in CPF balance (Happy New Year 2024!)

Woo Hoo!! Our CPF balance shot through S$1 million milestone for the first time on January 1st, 2024.

S$1,012,790.70

It does not reflect the true amount at CPF dashboard because we have CPF OA monies in T-bills, enjoying 3.95% P.A., total amount invested in T-bills are S$142,161.40 + S$156,850.70 = S$299,012.10. This amount is not shown in the CPF balance.

One T-bill will be matured on January 24, 2024 and two T-bills will be matured on April 30, 2024. 

By then, we will receive total amount of S$305,000. 

Total interest to be received S$5,987.90.

We have used CPF OA monies of S$100,349.25 + S$172,246.25 = S$272,595.50 for housing loans.

We top up our MA accounts every single year on January 1st to reach the new BHS figure, for the tax relief purpose.

BHS for year 2024 is S$71,500.

We continue to advocate CPF top up to child's CPF SA account and self 's MA account. 

JK Holdings: Age 1 baby has a CPF account too! Top up kid CPF SA account! (Revision 10)

It's great to see the compound interest effect at almost risk-free CPF account.

The national benchmarking:

The latest data (as of 31 December 2023) will only be published by CPF in July 2024.  

11 days Japan trip (December 2024)

We just booked 3x SIA tickets to Tokyo in December 2024!

This is going to be our 4th trip to Tokyo. :) We should tour towards Mount Fuji this time. 

We had booked all the hotel rooms, and the average daily room rate is S$252.

SIA had just canceled our flights and asked us to choose a different timing. That's great! 

I am now able to choose the best timing at no cost! 

My chosen flights now cost S$5,467! That's insane price for a family of 3.

Contents

Recent Holiday trips:

12 days Japan trip (December 2024)

(Tokyo - Karuizawa - Fujikawaguchiko - Tokyo)

9 days Taiwan trip (March 2024)

(Taipei & Taichung)

12 days Japan trip (December 2023)

(Osaka - Kobe - Kyoto - Nara - Osaka) 

8 days Sydney trip (March 2023)

12 days Japan trip (December 2022) 

(Tokyo - Hakone - Takayama - Kanazawa - Nagano - Tokyo)

Singapore hot financial topics:

CPF Annual Report 2023 (1.34M44 Regrossed Balance)

Aged 75 and he has not withdrawn a cent from "CPF" !

Received 6 months T-bill interest for CPF OA funds

Additional Wage (AW) Ceiling - CPF contributions for the whole year

What is the impact to me for the CPF closure of Special Account (SA) at age 55?

Break S$1 million milestone in CPF balance (Happy New Year 2024!)

Projecting Your CPF figures

Me & My Money

Everyone must know how to calculate this

The CPF warriors

CPF projection (end December 2022)

(2) CPF (Central Provident Fund) & Delaying Monthly CPF Life Payout? 

Two credible investors you can follow

New CPF Full Retirement Sum (to be raised by 3.5% instead of 3.0%)

CPF SA shielding (right before age 55)

What is your net worth?

CPF Time Deposit by OCBC bank, 8-months Fix Deposit, 3.88% per annum!

Happy New Year 2022

CPF year 2022

1.214M42 Regrossed Balances

CPF Annual Report 2022 (1.25M43 Regrossed Balance)

CPF Annual Report 2021 (1.134M42 Regrossed Balances)

CPF Annual Report 2020 (1M41 Regrossed Balances)

OCBC bank, 8-months Fix Deposit, 4.08% per annum!

DBS bank, 5-months Fix Deposit , 3.80% per annum !

CPF Regrossed Balances benchmark & CPF Balance Projection (Achieved 1M41 & Target 4M65)

Voluntary Contribution (VC) to CPF MediSave Account

Moment of Truth: CPF - Having a Good Retirement Life in Singapore

Delaying Monthly CPF LIFE Payouts?

(3) How To Plan For Your Baby's Future (My Complete List Versus CPF Article)

http://jkfund.blogspot.com/2017/04/how-to-plan-for-your-babys-future-my.html

(4) SRS (Supplementary Retirement Scheme) 

http://jkfund.blogspot.sg/2014/09/retirement-planning-in-singapore-srs.html

(5) HDB De-Coupling:

http://jkfund.blogspot.sg/2014/06/hdb-decouple-topic-spr-sc-household.html

(6) Investment Linked Plan Insurance (For Baby)

http://jkfund.blogspot.sg/2012/10/investment-linked-fund-for-infant.html

(7) Whole Life Insurance Plan (For Baby)

http://jkfund.blogspot.sg/2012/10/buy-life-insurance-as-early-as-possible.html

(8) CPF (Central Provident Fund) For Baby 

http://jkfund.blogspot.sg/2015/05/cpf-versus-whole-life-insurance-for-kids.html

http://jkfund.blogspot.sg/2015/03/age-1-baby-has-cpf-account-do-you-know.html

(9) Singapore Insurance Summary

Whole Life Insurance, love it !

http://jkfund.blogspot.sg/2015/06/summary-investment-linked-plan.html

http://jkfund.blogspot.sg/2012/10/classical-example-of-life-insurance.html

(10) Whole Life Insurance

http://jkfund.blogspot.sg/2015/06/whole-life-insurance.html

(11) Endowment Plan Insurance

http://jkfund.blogspot.sg/2015/06/endowment-plan.html

(12) Investment Linked Plan Insurance

http://jkfund.blogspot.sg/2015/06/my-investment-linked-plan-ilp-journey.html

http://jkfund.blogspot.sg/2012/03/lets-talk-about-investment-linked.html

(13) H&S (Hospitalization & Surgical) Insurance

http://jkfund.blogspot.sg/2015/03/h-hospitalization-surgical-insurance.html

(14) Travel Insurance

http://jkfund.blogspot.sg/2016/07/travel-insurance-tokio-marine-tm-xplora.html


(15) HDB Rental & Singapore Housing Loan Interest 

HDB rental yield now 13.52% !

One year rental increased by 53.5% & rental yield now 11.12% 

4-room HDB Rental (Toh Guan @ Jurong East): Year 2022 update 

Found new HDB tenant in 9 hours with 30.2% rental increment & 9.5% rental yield 

Rosewood condo sold at all time high price ! 

Toh Guan Grove (Aug 2021 Build-To-Order)

https://jkfund.blogspot.com/2017/11/hdb-rental-toh-guan-jurong-east.html

http://jkfund.blogspot.sg/2011/10/how-much-interest-you-pay-to-your.html

(16) Singaporean Benefits 

Typical ways to enjoy tax relief / tax savings in Singapore & GROW your CPF balance exponentially !

http://jkfund.blogspot.sg/2014/07/singapoerean-benefits-private.html

http://jkfund.blogspot.sg/2012/10/singaporean-benefits.html

(17) Singapore Credit Cards 

http://jkfund.blogspot.sg/2014/08/i-love-using-credit-cards.html

http://jkfund.blogspot.sg/2012/05/who-say-credit-card-is-not-good.html

(18) Singtel TV Plan

http://jkfund.blogspot.sg/2014/09/why-i-love-singtel-my-mio-tv-is.html

(19) Singapore Cars

3 years expenses (Honda Civic 1.5 Turbo)

http://jkfund.blogspot.sg/2015/12/good-used-car-honda-civic-brand-new-car.html

(20) Singapore Krisflyer & SQ Business Class

http://jkfund.blogspot.sg/2015/03/exclusively-for-sia-krisflyer-member.html

(21) Singapore Stocks 

Big homerun in year 2023

Big homerun in year 2022

http://jkfund.blogspot.sg/2015/03/stock-watch-list-cheat-sheet.html

http://jkfund.blogspot.sg/2012/10/buy-religare-health-trust.html

(22) Singapore Real Estate Guru Notes

Jurong East Breeze (Aug 2022 Build-To-Order)

http://jkfund.blogspot.sg/2014/11/my-notes-and-views-after-watching.html

 
(23) Singapore Education 

Singapore MOE School Fees (Primary 1 to 3) S$78 per year

http://jkfund.blogspot.sg/2016/02/year-2016-tuition-fees-at-local.html 

(24) Amanah Saham Wawasan 2020 (Malaysia)

http://jkfund.blogspot.sg/2014/10/exclusively-for-malaysian-amanah-saham.html

(24) Citrine Residences & Sunway Iskandar Malaysia 

https://jkfund.blogspot.com/2018/06/citrine-residences-2-bedrooms-rental.html

http://jkfund.blogspot.sg/2014/10/why-i-bought-first-residential-project.html

(25) NusaHeights Service Apartment, Iskandar Malaysia

http://jkfund.blogspot.sg/2016/08/nusa-heights-service-apartment-my-first.html

(26) Malaysia i-Flexi Housing Loan

http://jkfund.blogspot.sg/2014/10/cimb-homeflexi-malaysia-housing-loan.html

(27) Horizon Hills, Iskandar Malaysia 

http://jkfund.blogspot.sg/2015/11/horizon-hills-reap-low-sell-high.html

http://jkfund.blogspot.sg/2012/05/why-i-give-horizon-hill-miss.html

(28) Pay Yourself First

http://jkfund.blogspot.sg/2016/09/pay-yourself-first.html

(29) My Exit Strategy On Singapore Real Estates: 99 Years Leasehold & 99 Years Lease

http://jkfund.blogspot.sg/2016/10/my-strategy-to-exit-on-singapore-real.html

(30) Engineering Change Order (ECO)

http://jkfund.blogspot.sg/2016/11/engineering-change-order.html

(31) True Living Cost In Singapore

Our living cost in Singapore (Year 2022)

Pay increment and bonus payout

http://jkfund.blogspot.sg/2016/11/true-living-cost-in-singapore.html

(32) New Chapter Of Life: My Work Life

http://jkfund.blogspot.com/2016/12/new-chapter-of-life-my-work-life.html

(33) My Little Career Stories

http://jkfund.blogspot.com/2016/12/my-little-career-stories.html

(34) I Was Retrenched

http://jkfund.blogspot.com/2016/12/i-was-retrenched.html

3 years expenses (Honda Civic 1.5 Turbo)

I managed to record down my past 3 years expenses on my new car, Honda Civic 1.5 Turbo in great details. In average, I spent about S$435 per month for the car expenses.

I work from home 4 days a week since March 2020 (the start of COVID) and that is why the mileage is low. One day trip to office costs me S$8.30. Hence, it will cost me S$1,595 more a year in car petrol expenses if I go to office 5 days a week, which is not happening anytime soon.

My CAT B COE was only S$41,510.

I will scrap the car when it reaches 9 years 11 months and I will stand to receive a refund of S$14,833, which includes COE rebate S$346 + PARF rebate S$14,487.

I love Black Nano coating that I went for second coating after 3 years.

I also tried Michelin Tyres Primacy 4 (215/50/R17) for the first time. I love it too! :)

I had the first Black Nano coating right after the new car collection.

The factory tyres were Yokohama Advan dB. Not bad too!

Honda Civic 1.5 Turbo is a fun car to drive. I don't mind driving this car for 10 years and probably I am going to get another new Honda Civic Turbo model in year 2030!

All my car journey in Singapore documented here:

 JK Holdings: HONDA & TOYOTA (Revision 05) (jkfund.blogspot.com)