Thread: CPF OA
View Single Post
Old 14-09-2018, 07:36 PM   #14
dork32
Master Member
 
Join Date: Jan 2010
Posts: 4,733
hi guys, just for discussion sake.

Objective: Take out maximum CPF OA (for whatever reasons)

Situation: To take over mom's flat. My SA met the current FRS. OA = $380k. My mom's RA met the Retirement Sum for her cohort. She used her OA to pay loan for flat. Current OA+accr interest is $100k. She sells flat to me for $350k.

Now, for me, i can fully pay the flat using my OA, as for her, she can get $350k in cash (correct me if i'm wrong). Assuming she doesn't keep a single cent, theoretically she can return the $350k to me and by doing so, I have "taken out" my CPF OA.

Does it work this way?
you are a wise guy.

your cpf is useless money. it is trapped there till god knows when. so use it to buy the hdb.

your mom's cpf is real money. you can withdraw it anytime. if the money is stuck in the hdb, release it.

what you do is correct.

but i have never transferred hdb before. dont know what is the cost of the transfer

i have done transferring of private property before. it is very painful. kena 3% stamp duty + lawyer fees on both sides
dork32 is offline   Reply With Quote