Asked by Mr. Andy T
Hi, my Mother has a 2 Room Flat at Bedok North. She is turning 55 years old on June 2014.
The BTO(4rm) she applied for is due for collection on June 2014 as well. I calculated her CPF OA Account, taking into consideration that she sells all her ILP, she roughly has a 144K in OA.
Last transacted unit at the Blk she is staying is 270k.
The question is:
1. Prior to key collection in June 2014, can she pay off the whole amount of BTO money to HDB using her 144k CPF OA account plus the profit from the sale of 2rm flat in Jan 2014? Taking into consideration that 4 months is needed to sell her 2rm Flat.
In this situation, to prevent CPF Board from freezing her CPF OA when she turns 55 years old on June 2014, what will be the best advise.
The BTO(4rm) she applied for is due for collection on June 2014 as well. I calculated her CPF OA Account, taking into consideration that she sells all her ILP, she roughly has a 144K in OA.
Last transacted unit at the Blk she is staying is 270k.
The question is:
1. Prior to key collection in June 2014, can she pay off the whole amount of BTO money to HDB using her 144k CPF OA account plus the profit from the sale of 2rm flat in Jan 2014? Taking into consideration that 4 months is needed to sell her 2rm Flat.
In this situation, to prevent CPF Board from freezing her CPF OA when she turns 55 years old on June 2014, what will be the best advise.
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