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Is it possible to use CPF Retirement Account to buy resale HDB?

I am above 55 years old, under the old retirement sum scheme, and intending to sell my current HDB to purchase another HDB. No property pledge on my current HDB.

Understand that amount from my CPF used to purchase my current flat will be used to top-up my Retirement Account to FRS and the rest will be paid back to me as cash.

Is it possible for me to use Retirement Account balance above BRS to purchase another resale HDB flat and will it involve any property pledge?
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4 Answers

Hi,

1) You have to write to the CPF board about your intention to change house.
2) In the process of changing you can tell the CPF board to keep aside the amount you will need for the purchase so that they will not use it to top up your RA.
3) According to the regulation as long as you set aside your BRS, you can choose not to top up to FRS.
4) Just in case you didn't meet the initial BRS, you can also inform the CPF board to keep the status quo on your current situation and use the sales proceeds according to your needs.

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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Notify CPF Board: Inform the CPF Board of your intention to change houses.
Set Aside Funds: During the process, request that the CPF Board reserve the necessary amount for your purchase, preventing it from topping up your Retirement Account (RA).
BRS and FRS: If you set aside your Basic Retirement Sum (BRS), you can choose not to top up to the Full Retirement Sum (FRS).
Flexibility: If you don’t meet the initial BRS, you can discuss your situation with the CPF Board and use the sales proceeds as needed.
Remember that individual circumstances may vary, so it’s essential to communicate with the CPF Board directly for personalized advice. Read More
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WhatsApp me at >>9856 9255 or through this link.:https://wa.me/6598569255.

----------------------------888--------------------------------888--------------------------->>>

(1) "If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at: ✔✔ABLE Toh (65) 9856*9255 or through this link.:https://wa.me/6598569255

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

(2) (***) ✅✅ You can READ my REVIEWS here:

✅✅ https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

(3) ✅✅ For PRIVATE Home Buyers, I offer solutions for sourcing resale and new PRIVATE homes at ✅✅ ZERO charge (Because Most PRIVATE seller Agent are willing to share commission with Buyer Agent)

*** You can reach me at my Singapore mobile: @ +65 9 8 5 6 9 2 5 5

***(4) ✅ ✅ ✅ DEVELOPER SALES TEAM!!! BEST PRICES !!! ✅ ✅ NO AGENT FEES !! ✅ ✅ LOWEST PRICE GUARANTEED!!!

*** ✔✔Connect Singapore Line: ✔✔(65) 9856*9255

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NEW Launches Condominium in SINGAPORE :CALL/ WHATSAPP me FOR BEST CHEAPEST, LOWEST PRICE Straight From Developer Sales Team !!! Read More
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