CPF at 55 Years Old

[meekiatah]

Think u can skip no. 2 if u plan to withdraw 47k or transfer some to MA.

Yes, I intended to withdraw whatever can be withdrawn as I have plan to build some rental property in Batam for rental income.

By what you replied, does that mean that I do not have to pledge my HDB to make up FRS if all I want to keep in RA is for BRS?

 

[AppleiPhone]

In that case you can only take 5K when you reach 55. The rest will go to your RA unless your VHR is more than $99,400.
Example if my VHR is $49,400, OA 10K, SA $149,400 I get 10K when 55 and RA $149,400.

 

[meekiatah]

In that case you can only take 5K when you reach 55. The rest will go to your RA unless your VHR is more than $99,400.
Example if my VHR is $49,400, OA 10K, SA $149,400 I get 10K when 55 and RA $149,400.

Can you kindly explain what is this VHR about?

 

[meekiatah]

In that case you can only take 5K when you reach 55. The rest will go to your RA unless your VHR is more than $99,400.
Example if my VHR is $49,400, OA 10K, SA $149,400 I get 10K when 55 and RA $149,400.

i just check my cpf dashboard again.

VHR is $799
OA $275
SA $147,000

In this case, how much can I withdraw on 55?

 

[AppleiPhone]

I'm very sorry to inform you that you can only get 5K when you reach 55.

 

[item2sell]

I'm very sorry to inform you that you can only get 5K when you reach 55.

Where is your source?

https://www.cpf.gov.sg/member/faq/r...savings-for-my-property-can-i-withdraw-my-cpf

 

[AppleiPhone]

Where is your source?

https://www.cpf.gov.sg/member/faq/r...savings-for-my-property-can-i-withdraw-my-cpf

CPF wants you to have FRS.
FRS = SA or FRS=OA+SA or FRS=VHR+OA+SA if you want BRS.
You can only reduce to BRS if your VHR is equal or more than BRS.

Imagine if you sell away your house, banks or HDB will pay to your CPF VHR then the rest CASH to you.
For this reason, CPF won't allow your VHR lower than BRS.

I know because I'm having same similar issue that my VHR is less than BRS.

 

[~sabaisabai~]

CPF wants you to have FRS.
FRS = SA or FRS=OA+SA or FRS=VHR+OA+SA if you want BRS.
You can only reduce to BRS if your VHR is equal or more than BRS.
Imagine if you sell away your house, banks or HDB will pay to your CPF VHR then the rest CASH to you.
For this reason, CPF won't allow your VHR lower than BRS.
I know because I'm having same similar issue that my VHR is less than BRS.

so if those meet FRS. they cannot opt for BRS along with pledging hdb?

 

[meekiatah]

CPF wants you to have FRS.
FRS = SA or FRS=OA+SA or FRS=VHR+OA+SA if you want BRS.
You can only reduce to BRS if your VHR is equal or more than BRS.
Imagine if you sell away your house, banks or HDB will pay to your CPF VHR then the rest CASH to you.
For this reason, CPF won't allow your VHR lower than BRS.
I know because I'm having same similar issue that my VHR is less than BRS.

Can I know, in your case, have you used your CPF money for the purchasing of the flat?

I'm thinking if I do a VHR to my CPF since I only use $799+$81 (accrued interest), them maybe VHR won't be an issue, cos all examples shown in CPF pdfs doesn't mention VHR at all..

I've also written to CPF Board asking them about my case scenario. Hopefully hear from them soon.

 

[meekiatah]

This example down in CPF pdf is similar to my case, except that it didn't make any reference to VHR.

 

[AppleiPhone]

so if those meet FRS. they cannot opt for BRS along with pledging hdb?

Only if your VHR is more than BRS

 

[fr33d0m]

Yes, I intended to withdraw whatever can be withdrawn as I have plan to build some rental property in Batam for rental income.

By what you replied, does that mean that I do not have to pledge my HDB to make up FRS if all I want to keep in RA is for BRS?

You don’t have FRS in RA, the max allowed without sufficient property pledge is 5K. With sufficient property pledge, you can withdraw all amount above BRS.

 

[item2sell]

Only if your VHR is more than BRS

I cannot find any reference of the VHR and BRS relation

do you have the email or other reference from CPF about this

 

[AppleiPhone]

Can I know, in your case, have you used your CPF money for the purchasing of the flat?

I'm thinking if I do a VHR to my CPF since I only use $799+$81 (accrued interest), them maybe VHR won't be an issue, cos all examples shown in CPF pdfs doesn't mention VHR at all..

I've also written to CPF Board asking them about my case scenario. Hopefully hear from them soon.

Yes, I used CPF for downpayment only and the rest cash.

When someone pledges a home regardless HDB or private home for CPF RA to BRS, it means that CPF guarantee can take BRS amount to fill up their FRS.

You only guarantee banks or HDB to return $880 to CPF, do you think CPF allows you to do so?

In some cases, some CPF members have to proof to CPF that they own landed properties or bought annuity insurances much higher than CPF life or have some medical conditions then CPF will review it.

Nevertheless, I can't reduce to BRS for RA but I can reduce RA to RA-VHR about 110K and the rest of OA and SA can withdraw.

For your case, you can reduce RA to $197,920

 

[AppleiPhone]

I cannot find any reference of the VHR and BRS relation

do you have the email or other reference from CPF about this

Call CPF 1800-227-1188

 

[henrylbh]

i just check my cpf dashboard again.

VHR is $799
OA $275
SA $147,000

In this case, how much can I withdraw on 55?

OA and SA will move to RA at age 55 with $5k left in OA for withdrawal anytime.

 

[henrylbh]

Can you kindly explain what is this VHR about?

Dont bother with VHR. It's just the amount that you are allowed to refund CPF anytime. Until refunded, it's not money in CPF.

 

[item2sell]

CPF wants you to have FRS.
FRS = SA or FRS=OA+SA or FRS=VHR+OA+SA if you want BRS.
You can only reduce to BRS if your VHR is equal or more than BRS.

Imagine if you sell away your house, banks or HDB will pay to your CPF VHR then the rest CASH to you.
For this reason, CPF won't allow your VHR lower than BRS.

I know because I'm having same similar issue that my VHR is less than BRS.

I don’t know about your situation.
IF what you said is true. Two groups of people will be affected
1. Used cash pay property and want to opt for BRS
2. Those who did VHR and want to opt for BRS.

for past 20 years. I have not heard of this in my doctorate degree of CPF

 

[meekiatah]

This is the example I'm referring to that's down in CPF pdf...

Test posting image.

 

[reddevil0728]

This is the example I'm referring to that's down in CPF pdf...

Test posting image.

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