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|Description||I built this CPF Tracker to monitor and forecast how long I will still have to work to hit the Full Retirement Sum in my CPF accounts.|
CPF Full Retirement Sum (FRS) Projection worksheet: I used the average of the percentage increase in CPF FRS from 2017-2020 (2.97%) to roughly forecast how much CPF FRS would have increased by 2.97% per year.
Monthly CPF Contribution: In this worksheet, I use it to indicate how long I intend to work till, and make adjustments until all my CPF accounts become positive and I'm able to hit the projected FRS amount by 55.
CPF Calculations worksheet: This worksheet will show the projection of my CPF accounts by the age of 55. Once I hit the BHS and FRS figures, the cells will automatically change to green color.
Using this CPF Tracker, I hope it can help you to forecast your CPF retirement needs.
|Before you start, click on "File" and select "Make a copy..." to save a copy of this spreadsheet in your Google Drive.|
Step 1: To begin, head over to the Monthly CPF Contribution worksheet to input how long you plan to work till and your estimated monthly salary.
Step 2: Move on to CPF Calculations worksheet. Update last year's CPF account figures for the CPF Tracker to use as the starting point in CPF OA, CPF SA and CPF MA worksheets. If you are servicing a mortgage loan, update the "Monthly Mortgage Loan" column with your monthly mortgage repayment amount.
Step 3: Make use of the CPF Full Retirement Sum Projection worksheet to forecast the FRS amount when you reach 55.
Step 4: Update the "Full Retirement Sum Projection" figure cell (in yellow) with the amount you think your FRS will be when you reach 55 (based on Step 3).
|Optional: In the CPF OA worksheet, I have added a "Transfer OA to SA" column that I used to try to predict the difference it makes if you transfer money from your OA to your SA in December.|
Also Optional: In the CPF OA, CPF SA and CPF MA worksheets, I have also added a "Cash Top Up in Dec" that allows you to enter any 1-time cash top up made to the respective CPF accounts. To keep things simple, the amount will be added into the respective CPF accounts in the month of December.
The ideal scenario will be to achieve both BHS and FRS requirements with a positive figure in your CPF OA account to show that you have sufficient money to service your mortgage loan.
Note: You may need to go back and forth between Steps 1 and 2 to adjust how long you have to work and projected salary to achieve a positive figure for your CPF OA, SA and MA accounts. You should also strive to meet the projected FRS (recommended) amount.
PS: It is challenging to calculate the yearly interests earned from CPF. To increase the accuracy of the calculations, I will recommend you to update the Annual Interest calculation with real numbers as the years go by.