Asked by Anonymous
Hi all, I would like some advice regarding CPF refund before age 55.
I am turning 55 next year.
Current CPF balances:
Special Account: $260,000
Ordinary Account: $200,000
I used about $80,000 from CPF to purchase my co-owned property, and the accrued interest is currently about $50,000 (total refund amount about $130,000).
I intend to pledge my property at 55 and set aside only the Basic Retirement Sum.
My question:
Does it make financial sense for me to use $130,000 cash now to voluntarily refund the CPF used for the property before I turn 55? Since I will likely be able to withdraw the excess after setting aside BRS, would there be any disadvantage to doing
I am turning 55 next year.
Current CPF balances:
Special Account: $260,000
Ordinary Account: $200,000
I used about $80,000 from CPF to purchase my co-owned property, and the accrued interest is currently about $50,000 (total refund amount about $130,000).
I intend to pledge my property at 55 and set aside only the Basic Retirement Sum.
My question:
Does it make financial sense for me to use $130,000 cash now to voluntarily refund the CPF used for the property before I turn 55? Since I will likely be able to withdraw the excess after setting aside BRS, would there be any disadvantage to doing
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