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Going through a divorce is an emotionally difficult time. In addition, one of the key issues that you will have to face is the division of your matrimonial assets. If you have used your CPF to buy your house together, you need to think about what you want to do with your matrimonial home. |
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If you have used your CPF savings to purchase your property, a charge will be created to ensure that a refund is made to your CPF account when you dispose of your property. The required CPF refund (if any) under the various conditions are stated below: |
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If you are below age 55, you need to refund the principal CPF amount withdrawn together with the accrued interest. |
| (b) |
If you are aged 55 and above, you are required to refund the Minimum Sum deficiency, or the principal CPF withdrawn for the property plus the accrued interest, whichever is lower. The Minimum Sum deficiency is the Minimum Sum applicable to you when you turned age 55 less the balance in your Retirement Account (excluding interest earned).
For members who had turned age 55 before 1 July 1995, the required CPF refund will be the principal amount pledged for part of the Minimum Sum plus the accrued interest on the pledge. However, if the property is not pledged for part of the Minimum Sum, no refund is required. | |
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Do note that you need to refund the required CPF refund(s) to your respective CPF account(s) when you sell or transfer your property. Otherwise, the charge on the property remains and you will not be able to complete the transaction. |
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From 1 October 2007, you may transfer your share in the property to your ex-spouse with partial or no refunds to be made to your CPF account, if the Court had directed so. This ruling applies to Court Orders extracted on or after 1 October 2007 and cannot be applied retrospectively. |
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However, when your ex-spouse subsequently sells or transfers the property, he/she will be required to refund to his/her own CPF account the following: |
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a) |
the total of:
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the amount of required CPF refund that was not refunded to your CPF account including interest that would have accrued on this portion and
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the principal amount that he/she had withdrawn and the accrued interest for the property if he/she is below the age of 55
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or |
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b) |
the Minimum Sum Deficiency or the principal amount withdrawn for the flat and the accrued interest, whichever is lower if he/she is aged 55 and above.
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There will be no refund to your CPF account when your ex-spouse subsequently sells or transfers the property. |
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If your matrimonial flat is (a) a HDB flat, click here. (b) a private property, click here. |
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Click here to see the common FAQs. |
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Click on the links below to find out more about how a divorce may affect your other life events: |
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