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Hi funman, it may be difficult to contribute voluntarily all of your 100k into CPF. There is a limit of 30,600 annually. Secondly, a voluntary contribution will not be all into SA but across the 3 accounts, thus depriving you of earning the full 4%. Lastly, for your case, it is difficult to utilise the min sum topping scheme as the MS limit is only 155k thus far. At your SA balance of 70k, you can only top up 85k directly into your SA account. However this too is still capped to the annual contribution limit of " $30,600 – Mandatory Contributions"
http://mycpf.cpf.gov.sg/CPF/News/News-Re...ov2002.htm
On a sidenote, as you are in your late 30s, I am curious how 500k is in your CPF OA and yet have only 50k in MA and 70k in SA, did you utilize any scheme which enables the topping up of CPF OA only? This is because your proportion of OA to SA+MA is unique, normally individuals will have approx 1.5 to 2.5 times the amount in OA to their total SA+MA and not 4 times.
Perhaps you could post or pm me how did you do it as I am interested in trying to contribute to only OA since I intend to use OA for my loan installment/drawdown of HDB flat. Thanks in advance.
http://mycpf.cpf.gov.sg/CPF/News/News-Re...ov2002.htm
On a sidenote, as you are in your late 30s, I am curious how 500k is in your CPF OA and yet have only 50k in MA and 70k in SA, did you utilize any scheme which enables the topping up of CPF OA only? This is because your proportion of OA to SA+MA is unique, normally individuals will have approx 1.5 to 2.5 times the amount in OA to their total SA+MA and not 4 times.
Perhaps you could post or pm me how did you do it as I am interested in trying to contribute to only OA since I intend to use OA for my loan installment/drawdown of HDB flat. Thanks in advance.