What is the purpose of CPF SA

[chootchiew]

Ironically I cannot find from CPF website and google ..

Anyone knows how CPF SA works ? Website only says it is for old age retirement but no further details given.

Is SA related to RA (Retirment Account) ? If so at what age will SA turn into RA ?
At this point of time, how much $ can one draw out monthly from SA when they reach retirement age, what is the actual age now...really confuse . Any advice ?

 

[tonychat]

is to screw sinkies' ass and to show the world how stupid they are.

 

[SibelKing]

is to screw sinkies' ass and to show the world how stupid they are.

Your momma's skirt too short is it until u have to hide under sam leong's one.

 

[laksaboy]

Website only says it is for old age retirement

If the SA is meant specifically for retirement, then why did the govt want everyone to purchase a compulsory annuity?

Actually, you already know the answer... you're just very reluctant to believe it.

 

[Bigfuck]

If the SA is meant specifically for retirement, then why did the govt want everyone to purchase a compulsory annuity?

Actually, you already know the answer... you're just very reluctant to believe it.

CPF is a provident fund by design. To buy compulsory annuities means it has become a pension fund. Same for the health components. You can call CPF a pirate fund for the PAP. They have crossed all lines and want to test how chicken Singaporeans really are.

 

[tonychat]

CPF is a provident fund by design. To buy compulsory annuities means it has become a pension fund. Same for the health components. You can call CPF a pirate fund for the PAP. They have crossed all lines and want to test how chicken Singaporeans really are.

The verdict is : Sinkies are totally ball-less and a full pledge coward. Welcome to the world of sinkies.

 

[Fook Seng]

Ironically I cannot find from CPF website and google ..

Anyone knows how CPF SA works ? Website only says it is for old age retirement but no further details given.

Is SA related to RA (Retirment Account) ? If so at what age will SA turn into RA ?
At this point of time, how much $ can one draw out monthly from SA when they reach retirement age, what is the actual age now...really confuse . Any advice ?

SA I believe is used for emergencies like when they have to reduce CPF contribution during a recession. SA is used to top up whatever shortfall you have in servicing your housing loan for instance.

 

[erection2015]

new word again tony ? :*:

The verdict is : Sinkies are totally ball-less and a full pledge coward. Welcome to the world of sinkies.

 

[chootchiew]

SA I believe is used for emergencies like when they have to reduce CPF contribution during a recession. SA is used to top up whatever shortfall you have in servicing your housing loan for instance.

Yes I remember seeing the word "for emergencies" e.g. servicing housing loan when OA has depleted. But this only applies to those who bought house before 2003. Hence the energencies here I felt more like for the CPF board to use it to their emergencies instead !