My Mom CPF account updates

This post is an update of my Mom CPF account after my hack on topping her Retirement Account with my ordinary Account to fund her monthly allowance.

Her CPF retirement account has grown from 20k to 50k during the year 2019. This 30k increase includes Retirement sum top up for tax relief, transfer of my OA to her RA and the $2200 interest she received from CPF end of last year. It is nice to see the government help fund my Mom allowance.

With this amount in her RA, I believe her monthly payout had increased from $250 for about 10 years to $370 per month for 17 years. I am intending to continue topping up her account up with my OA till she is 70 to earn more interest from the government before requesting for her retirement sum scheme payout. With this, it should greatly reduce the cash I need for her allowance 2 years down the road when my Mom turns 70.

The cash saved would then go into funding my Special Account top up for tax relief. A triple win I think. What do you say?