How Much of Your CPF can U Transfer to Your Mom/Dad ?

[GOD IS MY DOG]

anyone know ?

how much of our CPF (i think only from Ordinary A/C ?) can me and my sibling EACH transfer to our only surviving parent ah ?

 

[crystal_tiong]

u can tfr as much as u can but they can only withdraw certain amount monthly ......eg , u tfr 10k , if yr parent are allocated only $300 /mth then 10k will take 33 months to take out ....

 

[Narong Wongwan]

297 per month to be exact. Cheapskate govt we have

 

[crystal_tiong]

http://ask-us.cpf.gov.sg/efa/index.htm?initCollectionID=381844984100003791&isBrowsingTree=1

see this link for mor detailed info .
I have done it since last yr ....

 

[Hans168]

anyone know ?

how much of our CPF (i think only from Ordinary A/C ?) can me and my sibling EACH transfer to our only surviving parent ah ?

I think it is $7000 total to get tax benefit for one pax

 

[crystal_tiong]

only cash will have tax relief but fr cpf nope

 

[halsey02]

u can tfr as much as u can but they can only withdraw certain amount monthly ......eg , u tfr 10k , if yr parent are allocated only $300 /mth then 10k will take 33 months to take out ....

Can we make donation to our own CPF Account? say $50,000, or there is a limit?

 

[chootchiew]

anyone know ?

how much of our CPF (i think only from Ordinary A/C ?) can me and my sibling EACH transfer to our only surviving parent ah ?

I ever asked CPF board, they said you can transfer any amount, but you can only transfer after setting aside your minimum sum.

 

[halsey02]

I ever asked CPF board, they said you can transfer any amount, but you can only transfer after setting aside your minimum sum.

How many of your siblings or your children, can have surplus after setting aside the MIN SUM!!..have we done our sums..this is another hazy shade of wayang!

 

[chootchiew]

How many of your siblings or your children, can have surplus after setting aside the MIN SUM!!..have we done our sums..this is another hazy shade of wayang!

I suspect < 0.5% sinkie would have surplus after setting aside min sum.
But ...if not for the above wayang rule, people like me will do this ...transfer OA to aged parent Retirement Acc and cash out monthly.

 

[halsey02]

I suspect < 0.5% sinkie would have surplus after setting aside min sum.
But ...if not for the above wayang rule, people like me will do this ...transfer OA to aged parent Retirement Acc and cash out monthly.

But they will blame you for not being filial...that is the next scene in the "wayang"...don't believe stay around for "Akan Datang"!!

 

[GOD IS MY DOG]

many thanks for the replies.....................

 

[chonburifc]

Hehehe. Finally found this thread.

Does it mean if MS (OA+SA) is met, member can transfer excess to parents RA. And then parents can withdraw the amount in cash?

Don't make me happy for nothing leh.

 

[crystal_tiong]

Hehehe. Finally found this thread.

Does it mean if MS (OA+SA) is met, member can transfer excess to parents RA. And then parents can withdraw the amount in cash?

Don't make me happy for nothing leh.

Look at post 2 . Dun be too happy. It takes months to withdraw e whole amount.

 

[Char_Azn]

I thought U guys always complain CPF is fake ponzi scheme never get back one still wanna transfer???

 

[tonychat]

Just give cash or transfer money through internet banking to your parents, why need to go through CPF.

 

[ChaoPappyPoodle]

u can tfr as much as u can but they can only withdraw certain amount monthly ......eg , u tfr 10k , if yr parent are allocated only $300 /mth then 10k will take 33 months to take out ....

If your mama or papa kaputs then your money also kaputs. Becareful of leegalised thieves

 

[tonychat]

I thought U guys always complain CPF is fake ponzi scheme never get back one still wanna transfer???

Sinkie. I am not ur clone. Dun anyhow claim that.

 

[GOD IS MY DOG]

I thought U guys always complain CPF is fake ponzi scheme never get back one still wanna transfer???

CPF transfer to another CPF a/c okay mah.....................then see how can get money out................

don't say i black heart lah hor..................but if you got old parents, transfer to their medisave a/c lor..............

interest is higher than ordinary a/c..................and when they pass away, the money take out already mah..............

so always use your own medisave to pay for their medical expenses..................

 

[Narong Wongwan]

If your mama or papa kaputs then your money also kaputs. Becareful of leegalised thieves

If parents kaput reminder of monies transfered will go back to you.
Won't go kaput but won't be part of the estate also...