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Hi, my husband have reach 55 , already sat aside the minimum sum for retirement required by CPF. We apply BTO and we are selling my current flat. The $$ will it refund back to the ordinary account. The $$ can we draw out all cash in the BTO.
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3 Answers

Ling CK
Replied
Dear Mrs. Serene,

(1) Upon selling your current flat, the sales proceed will first return the CPF withdrawn + accurred interest. This shall be in your ordinary account.
(2) If there are any sales proceed after deducting all expenses, such as legal fees, miscellances etc, it will be issued in cheque by HDB on the date of completion (2nd appointment).

On top of the above you might incur upgrade levy (cash) if applicable and set also need to aside a sum (cash) for your resale levy since your are applying BTO

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK Read More
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  • ST
    Replied
    Thanks.but my husband already reach 55 and all ordinary already transfer to retirement accounts.but the cpf withdrawals and the interest that go back to the ordinary. I think we still can draw out all.like my husband still work and every single cent that credit in ordinary, we always can draw our cash. That is bcoz my husband already meet the set aside the min sum. And any excess we can draw out
YT Tan (陈永达)
Replied
Good evening Serene,

As long as your husband has FULL RETIREMENT SUM in his retirement account/ CPF life, he can withdraw the rest in cash. Do take note its not just basic retirement sum.

Hope my explanation helps!

May I know how can i value add further in your property needs?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
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  • ST
    Replied
    Thank you very much, the medisave also meet the requirements min sum sat by the government.bcoz he still working and also a highly paid worker.when keys are ready than need agents to sell for me. I m staying near mrt location very good and my house just fully renovated 3 years ago
Ling CK
Replied
Dear Mrs Serene,

I believed there are still a few years before collecting keys for your BTO.

However, there are still concerns whether you are able to draw cash out from the sales proceed.

It is difficult for us to spell out every scenerio over here. It would be better if you could drop me a SMS or "Whatsapp" to start a chat so that I can assist you better.

Thanks.
Best regards
Ling CK
 90110636  Read More
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