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Thread: Can I withdraw my CPF in full in future?

  1. #1
    Join Date
    Feb 2008
    Posts
    393

    Default Can I withdraw my CPF in full in future?

    Can anyone tell me if I can withdraw my CPF in full in future?

  2. #2
    Join Date
    Jan 2007
    Posts
    164

    Default

    You can't withdraw in full. You have to keep the Minimum Sum in your CPF. The balance you can withdraw when you hit 55.

  3. #3
    Join Date
    Jan 2007
    Posts
    176

    Default

    if you born 1958 or later, cannot take out liao. thank u cpf life

  4. #4
    Join Date
    Jan 2007
    Posts
    164

    Default

    Oh? What is this CPF life?

  5. #5
    Join Date
    Jan 2007
    Posts
    106

    Default

    CPF Life is the alternative to the CPF Minimum Sum Scheme. The CPF Minimum Sum Scheme provides monthly payouts for about 20 years whereas the CPF Life Scheme gives a lifelong monthly payment when you turn 55. How much your monthly payout depends on the plan you are on. There are a few plans currently but next year (2013) onwards, the plans will be simplified to 2 - basic and standard.

    For people born 1954 or earlier - you can choose to join CPF Life or remain on the Minimum Sum Scheme.
    For people born 1955 to 1957 - you can apply to join CPF Life when you reach 55 years old or remain on the Minimum Sum Scheme.
    For people born 1958 or later - you will be automatically included under CPF Life if you have at least $40,000 in your Retirement Account (RA) at 55 or at least $60,000 in your RA at 65. If you are not automatically included, you can still apply to join the CPF Life Scheme.

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