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fsm67 Maximising SA interest
I came across the following article. Would be keen to know your view on this approach. This is especially for those who are about to reach 55 years old.
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@fsm67 GOOD NEWS! We just uploaded a video that succinctly covers the SA Shielding Strategy <bit.ly/3yVpwMp> Check it out and let us know what you think
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Hello @fsm67, congrats on unlocking this lesser-known CPF 'hack'!
It's true that when you turn 55, CPF savings from your Special Account (SA) and Ordinary Account (OA) up to the prevailing Full Retirement Sum (FRS) will be moved to your Retirement Account (RA) to form the Retirement Sum.
Whew, lots of account terms there.
Much has been written about the SA shielding hack...so we won't dive into that any further. DBS Head of Financial Planning Literacy, Lorna Tan, has also written on it previously - you may search to learn more!
In the meantime, this might be another helpful share: <go.dbs.com/3fVGSjQ>
