Asked by Anonymous
I would like to find out regarding CPF usage for both elderly parents in their 70s. My parents are planning to downsize from a 4 room HDB flat to a 3 room flat. My father is already receiving CPF payout, and my mother has no CPF savings.
I would like to find out the following:
1. Can my parents use their CPF to pay for the next flat in full, or must certain amount remain in their Retirement Account (RA)?
2. If there is insufficient cash for the purchase, is it possible to use funds from RA?
3. Are there any circumstances or appeals under which CPF allows greater flexibility in such cases?
I would like to find out the following:
1. Can my parents use their CPF to pay for the next flat in full, or must certain amount remain in their Retirement Account (RA)?
2. If there is insufficient cash for the purchase, is it possible to use funds from RA?
3. Are there any circumstances or appeals under which CPF allows greater flexibility in such cases?
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