CPF Investment (Net Amount Used)

[TheOne]

I was looking through my dad's CPF statement online when I realised there was an anomaly. He does not have a CPF investment account (no agent bank) yet they stated that there was a net amount used of 60+k from his OA for investment purposes. AFAIK, whenever you invest in either unit trusts/shares with CPF, you'll need an CPF IA right?

Anyone has any idea how this might have come about? Like back in the old days, they didn't need an agent bank or something? I very much doubt my dad would have bought unit trusts last time, shares with CPF maybe. If there wasn't an agent bank, how do I check what's in his holdings? And in case anybody is wondering why I cannot just ask my dad, he suffers from mental incapacity now.

 

[antonpoh]

I was looking through my dad's CPF statement online when I realised there was an anomaly. He does not have a CPF investment account (no agent bank) yet they stated that there was a net amount used of 60+k from his OA for investment purposes. AFAIK, whenever you invest in either unit trusts/shares with CPF, you'll need an CPF IA right?

Anyone has any idea how this might have come about? Like back in the old days, they didn't need an agent bank or something? I very much doubt my dad would have bought unit trusts last time, shares with CPF maybe. If there wasn't an agent bank, how do I check what's in his holdings? And in case anybody is wondering why I cannot just ask my dad, he suffers from mental incapacity now.

Maybe 60k is the 35% CPF amount he can use to buy shares. You can call cpf hotline 18002271188 to check with them.

 

[henrylbh]

Sorry about your dad's condition. Dont he keep all his CPF annual statements? Otherwise you may have to pay to get his historical statements.

If got statements, you may find out what was the 60+k used for.


"Net Amount Used" is the amount that is withdrawn from OA for investment. If you dad never had investment, it could be the amount withdrawn for insurance that he took.

 

[zhizhong07]

cpf is the best place to ask but my suggestion is to go down personally to enquirer, rather than to call. It will be faster to get your answer

 

[henrylbh]

I was looking through my dad's CPF statement online when I realised there was an anomaly. He does not have a CPF investment account (no agent bank) yet they stated that there was a net amount used of 60+k from his OA for investment purposes. AFAIK, whenever you invest in either unit trusts/shares with CPF, you'll need an CPF IA right?

Anyone has any idea how this might have come about? Like back in the old days, they didn't need an agent bank or something? I very much doubt my dad would have bought unit trusts last time, shares with CPF maybe. If there wasn't an agent bank, how do I check what's in his holdings? And in case anybody is wondering why I cannot just ask my dad, he suffers from mental incapacity now.

Net amount used -

This is the amount you have withdrawn from CPFIS investments less refund from the sale or maturity of your investments, dividends, etc.

A positive amount does not necessarily mean you have made loss unless you have sold all your investments.

A negative amount usually means you have made profits because you have refunded more than the amount you have withdrawn.

If he has no more investment or outstanding insurance, means he lost 60k, though he need not made good the loss.

Ha ha my show negative of nearly 40k.