SG Talk

Ms xxx

Thank you for writing to us on 12 April 2022.

You asked the following:

1. if I put in cash to ordinary account, I can take out my from OA anytime even if my RA has not met minimum sum

Members will not be able to make top-ups to only the Ordinary Account (OA).

You may wish to make a Voluntary Contribution (VC) to the three CPF Accounts – OA, Special Account (SA), and MediSave Account (MA). If you wish to contribute to the three CPF Accounts, the distribution is based on the current allocation rates for your age group. You can use our VC Allocation Calculator to compute the allocation amounts.

The amount you can contribute for the year is the difference between the CPF Annual Limit of $37,740 and the amount of mandatory and voluntary contributions.

To find out the allowable contribution for VC and to make a contribution, you can use our e-Cashier.

Withdrawal from OA and SA
Members aged 55 or above can withdraw the excess savings in the OA and SA after setting aside the Full Retirement Sum (FRS).

For members who are unable to set aside the FRS, they can withdraw a portion of their OA and SA savings. This condition remains even after age 65.

If you apply for a withdrawal now, up to 90% of your savings in the OA and SA will be transferred to your Retirement Account (RA) to help set aside your retirement sum. The balance is then paid to you.

You can view your withdrawable amount online in your Retirement dashboard with your Singpass.

2. And if I sell my hdb flat after 65yrs old, will cpf use my hdb proceed to top up my RA

Upon the sale of your property, you will be required to refund the CPF principal amount withdrawn for the property and the accrued interest (P+I) to your CPF account.

As you are 55 and above when the property is sold, the P+I will first be used to top up your RA up to your FRS of $139,000.

After setting aside the FRS in your RA, any balance housing refunds will be paid to you in cash within one week after the CPF refunds are paid into your CPF account. Alternatively, you can request (at least 2 weeks before the completion of the sale of your property) for the balance housing refunds to remain in your OA to pay for the next property or redeem another housing loan.

Please follow the steps below to view the estimated amount you need to refund:
1. Login to my cpf Online Services at cpf.gov.sg with your Singpass
2. Select “my cpf”
3. Click on Home ownership and refer to:
“What happens if”

Do note that the actual amount to be refunded will depend on the completion date of sale of the property.

We hope you and your loved ones are keeping safe. For more information on CPF, please visit cpf.gov.sg.

If you have any follow-up enquiries to our email, please reply us as soon as possible so that we can keep track of your case. For all other enquiries, please Contact us here.



Yours sincerely

plse explain
I don't get it

quite straightforward what.

2. the principal and interest will be used to top up yr RA(FRS), balance can then be taken out in cash, or stay in OA

Straight forward what. Means you dont have a lot CPF.

You see never say about penalty when withdrawing your $$$ to spend….

You shd ask them…
Any penalty if I withdraw my CPF to spend at any time.

(18-04-2022, 03:12 PM)WhatDoYouThink? Wrote: [ -> ]quite straightforward what.

2. the principal and interest will be used to top up yr RA(FRS), balance can then be taken out in cash, or stay in OA

FRS amount will increase every year. So wonder if the OA/SA to RA topup is one-off or CPF will always do a 90% topup whenever the RA balance falls (due to the monthly payment from 65yo onwards) below the prevailing FRS amount and when one applies for an OA withdrawal.

Quote:If you apply for a withdrawal now, up to 90% of your savings in the OA and SA will be transferred to your Retirement Account (RA) to help set aside your retirement sum. The balance is then paid to you.

1. If you don't meet FRS, you can top up OA, SA, RA together but not just OA. Of course can't take out until n unless you meet the FRS or BRS with property pledge.

2. Proceeds from sale of property will go to top up FRS first. Balance can be cashed out after 55. So applies to you. 65 is immaterial.

Not difficult to understand lah.

say u all stupid

I am saying from 65

not 55

after 65
only MA & RA & OA

PLS RAH,

Money inside " your CPF " is not means can take out suka suka EVEN so call you reach what 55 , whatever

Gov just release monthly depend how much your CPF so call " allowance " so call " feel rich see my CPF Enjoy retirement "

the max If I not mistaken is 2k+ even you got lots of money inside your CPF.

Summary now Lock , just " an asset ready to pass down to your kids, next of kin "

What become Millionaire using CPF max out is Unrealistic , YOU Put yourself as Gov, " if " everyone so easily become Millionaire via their CPF ,etc

Ha like that Gov going to collapse

aiya cpf better prepare a list of mcq, only those can get 100% correct then can take money out.

I know any post that talks about cpf sure have someone come in and talk about his own.

I thought answer is very clear.

After 65 whether you sell house  or put in money into OA/SA ...you can take out only amounts greater  than FRS+I set aside jn RA.

Thats all. If you don't reach FRS,  you can't take out.

(18-04-2022, 06:37 PM)Blasterlord2 Wrote: [ -> ]I know any post that talks about cpf sure have someone come in and talk about his own.

You are right the moron just did and he has to drag me jnto this sick post.

(18-04-2022, 04:26 PM)Talent Wrote: [ -> ]say u all stupid

I am saying from 65

not 55

after 65
only MA & RA & OA

Above 65 you still need to have already transfer FRS previously if not it will be used to top up your RA to the FRS....then you can take something out.

I don't understand what u don't understand.