For 2022, I managed to hit S$232K in my Central Provident Fund ("CPF") Special Account after interest income from the CPF Board. I hope to eventually attain the Enhanced Retirement Sum ("ERS") before age 55 years old. Thanks to earlier years investment using my Special Account as well as the beef up tips gained from Mr AK (A Singaporean Stocks Investor-ASSI) by consistently transferring CPF OA to CPF Special to take advantage of the higher differential 1.5% in interest rate, I was able to coast through my Full Retirement Sum ("FRS") a few years ago. However, internal funds transfer is only valid up to Full Retirement Sum ("FRS") level-once this level is reached, the accumulation rate for the special account slows down.
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| Above depicts S$9.3K of interest income paid out from the CPF Board into my Special Account. |
For my CPF Special Account, this forms the last resort for a decent standard of living even if my cash investment portfolios go completely South. Hence I will not be taking any additional risk with my CPF Special Account and will just let it earn the normal 4%-5% interest income with the CPF Board.
My Ordinary CPF Account has another +$60K in investments in REITs and also S&P500 via Endowus. Anyway, the remaining money here has been reserved to be used to pay off my housing loan.
As for Medisave account, the balances here to me is only temporary as I will most likely be using this amount up completely since my parents do not have any enhanced H&S plan and I will need to pay for their old age medical expenses- it is hard being the sandwiched generation....haiz.
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