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CPF withdrawal....wat u tink?
Please refer below for the change of the withdrawal percentage for members reaching 55:
Withdrawal of Special and Ordinary Account Balances at 55
Until 31 Dec 2008 50%
1 Jan 2009 40%
1 Jan 2010 30%
1 Jan 2011 20%
1 Jan 2012 10%
From 1 Jan 2013 Only the Special and Ordinary Account balances after setting
aside both the CPF Minimum Sum and Medisave Minimum Sum can be withdrawn
From 1 January 2013, members who reach 55 can withdraw their Special and Ordinary Account balances only after setting aside the CPF Minimum Sum and Medisave Minimum Sum. However, members can still withdraw the first $5,000 at 55.
A CPF member can apply to withdraw his outstanding CPF balances in full, including the Ordinary, Special, Medisave and Retirement accounts (if any), if he has left Singapore and West Malaysia permanently with no intention of returning to either country for further employment or residence and ceased to be a Permanent Resident of Singapore / and renounced his Singapore Citizenship (if applicable).
Also, a CPF member who is a West Malaysian citizen may apply to withdraw his / her full CPF, including the Ordinary, Special, Medisave and Retirement accounts (if any), if he / she satisfies all the following conditions:
1) He / She left Singapore permanently for West Malaysia.
2) He / She does not hold a valid Singapore Work Permit or Employment Pass and / or has renounced his / her Singapore PR
3) He / She is either:
a) 55 years old or above, or
b) below 55 years old but above 50 (on or after his / her 50th birthday), and has not worked in Singapore in the two years before his / her application, or
c) physically or mentally incapacitated from ever continuing in any employment or is found to be of unsound mind.
If you have further enquiries, you may refer to our article on Leaving Singapore or call our hotline at 1800 227-1188 from Mondays to Fridays, 8am to 6pm.
Withdrawal of Special and Ordinary Account Balances at 55
Until 31 Dec 2008 50%
1 Jan 2009 40%
1 Jan 2010 30%
1 Jan 2011 20%
1 Jan 2012 10%
From 1 Jan 2013 Only the Special and Ordinary Account balances after setting
aside both the CPF Minimum Sum and Medisave Minimum Sum can be withdrawn
From 1 January 2013, members who reach 55 can withdraw their Special and Ordinary Account balances only after setting aside the CPF Minimum Sum and Medisave Minimum Sum. However, members can still withdraw the first $5,000 at 55.
A CPF member can apply to withdraw his outstanding CPF balances in full, including the Ordinary, Special, Medisave and Retirement accounts (if any), if he has left Singapore and West Malaysia permanently with no intention of returning to either country for further employment or residence and ceased to be a Permanent Resident of Singapore / and renounced his Singapore Citizenship (if applicable).
Also, a CPF member who is a West Malaysian citizen may apply to withdraw his / her full CPF, including the Ordinary, Special, Medisave and Retirement accounts (if any), if he / she satisfies all the following conditions:
1) He / She left Singapore permanently for West Malaysia.
2) He / She does not hold a valid Singapore Work Permit or Employment Pass and / or has renounced his / her Singapore PR
3) He / She is either:
a) 55 years old or above, or
b) below 55 years old but above 50 (on or after his / her 50th birthday), and has not worked in Singapore in the two years before his / her application, or
c) physically or mentally incapacitated from ever continuing in any employment or is found to be of unsound mind.
If you have further enquiries, you may refer to our article on Leaving Singapore or call our hotline at 1800 227-1188 from Mondays to Fridays, 8am to 6pm.
. making us work harder, and leaving us less time to withdraw cpf............
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