Trust Bank Singapore, New Digital Bank Freebies!

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Have you applied for your Savings Account or Credit Card with Trust Bank Singapore, Singapore's digital bank backed by a unique partnership between Standard Chartered Bank, and FairPrice Group? REFERRAL CODE: BZACYE0F ( it is a number zero, not letter ) Get $35 worth of free Fairprice vouchers and other freebies by just Downloading the Trust App and Open a Savings Account online with the App, simple/easy within 10mins!: Get free $10 Fairprice E-voucher (no minimum spend at stores/online) by entering this code ( BZACYE0F ) when apply for the Savings Account. Get free 1kg Fairprice Rice voucher Get free Kopitiam Breakfast Toast Set voucher Charge one transaction to your debit card to get free Fairprice $25 voucher (no minimum spend, at stores/online). Hack: Do a funds transfer of $1 or $10 from your own bank to Trustbank savings account. Then Just add your debit card number to Grab App, authenticate with $1 charge/refunded to your saving...
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CPF Special Account Hack - Are You Ready?


CPF Special Account Hack you must know to Retire Rich!

Don't miss the boat to Retire Rich!

What the Hack! We already missed the boat to Retire Rich?

Yes, it is “approved”, written in the CPF Board website rules, but only if you know it and can see the “big loophole” created by policy writers!

Here is how it works, as “approved” in the CPFB policies/rules:

A. How is the Retirement Account (RA) created?

When a member turns 55, a CPF Retirement Account (RA) will be created for him. The Board will first set aside his Full Retirement Sum (FRS) in his RA by transferring funds in the following account sequence:

1.    Funds in his Special Account (SA).
2.    If (1) is insufficient to set aside the FRS in full, funds in the Ordinary Account (OA) will be transferred to the RA to make up the FRS.

Excess of the FRS (if any) will remain in his OA/SA which he can withdraw at any time.

 B.  Grow Your SA

Knowing how CPFB creates the Retirement Account, you should then plan to grow your Special Account to as big as possible before 55 (see note a. below).


C.  Are You Ready at 55?

We use this example to explain the steps you should take to Retire Rich:

RA (FRS) = $181k, Your SA Balance = $200k, Your OA Balance = $150k

1. Invest $160k (see note b. below) of SA using CPFIS/SA into safe Unit Trust Fund (see note c. below) about 2 weeks before 55th birthday.

 2. On your 55th birthday, CPFB will transfer $40k from SA and $141k from OA to create the RA (FRS) at $181k

3. Sell your $160k Unit Trust Fund. Monies will be returned back to SA as per CPFIS/SA policy/rules. (see note d. below)

Bingo! You can Retire Rich with SA ($160k) = continue to earn 4% pa interest (compounded) = funds you can withdraw anytime. You can easily earn $6400 interest per year!

Do you need to beg CPFB to return your CPF monies?   Oops, only the Rich will get Richer. Especially those who know the CPFB policy/rules/loopholes!

So be in the “know your CPFB policy/rules/loopholes”.

Stay tuned for more CPF Hacks that works!

Good Luck!

 Notes:

a. How to Grow Your SA Hack: stay tuned
b. CPFIS/SA rules only allow SA balance above $40k to be invested. If your SA cash topup monies exceed $40k, then the whole SA cash topup monies cannot be invested.
c.  Use Phillip Securities Poems Unit Trust system to purchase a Unit Trust with minimum price movements to limit any loss when you sell. There is no sales charges or hidden fees using the system. At most, you might lose a few hundred dollars (depending on SA amount invested), but your future gain from the 4% pa compounded interest on SA will more than offset it.
d.  Before you sell CPFIS/SA, if you have lots of monies in OA, you can attempt another hack.  Stay tuned.

(Above had been “tested” by some forumers. (Oops, do you need to test CPFB approved policies?) It was first shared by a forumer many years ago, then a “dominant new forumer” picked it up and continue to repeat/reiterate to dominate discussions in the forum)
Read Part 2
Read Part 3

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