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How I top up from my sale proceed? I am 58yrs old and my full retirement sum is 171k.

1) cpf statement shown I shortfall 90k for my retirement.
2) after selling my cpf back to cpf with interest is 60k.
3) my retirement account have about 24k.
I almost use my wife cpf account to pay for the installment and she is now only 52 yes old.

From the above condition, do I need to top up in cash of 90k if I were to sell my house?
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4 Answers

Hi Mr. Koo,

You would have 84k in the OA+RA (60k+24k) after selling away the condo. This means you need to top up 87k from the sale cash proceeds to meet the full retirement sum of 171k after selling.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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Hi Mr Koo,

There is no requirements to top up your minimum sum after you sell your house. However, if you have not fulfilled the minimum sum, you will not be able to utilise the CPF refund from the current sale to finance the purchase of your next house.

Please feel free to contact me so that I can explain to you further.

Regards,
Nick Tan
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(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

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Hi Mr. Koo,

1) There are 2 ways to top up your retirement account.
2) 1st is to top up using your sales proceed.
3) 2nd is to use a fully-paid property to pledge for BRS, so you only need to top up a BRS from sales proceed.
4) Meaning if you downgrade to an HDB and fully paying for the purchase. You just need to top up your RA to BRS from your sales proceed and use the flat to pledge for the rest of BRS to form an FRS.

Hope the above answer to your main concerns, but if there are more query, 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
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi Sir/mdm

for your property matter
Pls whatsapp to 8 2 7 9 - 8 3 2 7 to disccuess further

Koh zhen hon
Mobile: 8279 8327 
R 057810C / L 3009250K
ORANGETEE & TIE PTE LTD Read More
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