Not correct.
1. RA is created @ 55, it will first take SA &, if not enough, then it'll take OA to reach FRS.
For your scenario, $176k from SA is moved to RA. OA stays. Results: RA=$176k, OA=$90k, SA=$74k.
You can withdraw $90k+$74k = $164k.
I would not suggest to withdraw SA bcos of several reasons (1) 4% interest rate, (2) you can still work. If really urgent, then bo bian withdraw.
Remember, even after 55, SA can't really be used for home loan. But it still possible to ask HDB to take SA for HDB loan, bcos I did it in 2003 when I got retrenched and I cleared out my OA & I stiil need to pay my HDB loan. Bank loan will kill you to ensure the loan is paid on time, no compassion.
2. If both SA & OA combine smaller than FRS ($176k), you have option to request to leave, I think, $20k to OA for Home Loan. For example, OA=$90, SA=$70k => RA=$176, OA=$20K, SA=$0 (request $20k OA to remain @ 55)
Congrats reaching 55 next year Uncle. Just to confirm when reaching 55 next year.
For eg:
OA - 90K
SA - 250K
MA - 57.2K
Assuming 2020 SA @ 176K.
SA portion, We can take out: 250K - 176K = 74K?
While OA and remaining SA form RA.
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