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Upon reaching 55, we will create your Retirement Account and monies will be set aside from your Ordinary Account / Special Account into your Retirement Account. This could lead to a reduction to your stock and gold limits. You may continue to invest your Ordinary Account balance under the CPF Investment Scheme - Ordinary Account (CPFIS-OA) and your Special Account balance under the CPF Investment Scheme - Special Account (CPFIS-SA). Please check your investment limits before investing after reaching 55. In addition, you will not be able to invest the first $20,000 in your OA and the first $40,000 in your SA. |
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If you have set aside the CPF Minimum Sum and Medisave Required Amount, you can apply to the Board to withdraw your CPFIS-OA and CPFIS-SA investments as well as the cash balance in your Investment Account. Your CPF Investment Account will be closed once you withdraw your investments. |
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The procedure to withdraw the investments is as follows:
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CPF Investment Scheme – Ordinary Account (CPFIS-OA) |
CPF Investment Scheme – Special Account (CPFIS-SA) |
| The Board will inform your agent bank to close your CPF Investment Account. You may approach the bank for the release# of your investments and cash after the Board has notified you. Your investments will be transferred to your own name and you may liquidate them as you wish and have the proceeds paid to you directly. |
The Board will inform your product providers to transfer your investments to your own name and you may liquidate them as you wish and have the proceeds paid to you directly. | |
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#Central Depository (Pte) Ltd (“CDP”) imposes a transfer fee of $10.70 (inclusive of GST) for every share counter transferred from your CPF Investment Account to your CDP Account |
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Once withdrawn, your CPFIS investments and cash balance in your Investment Account will no longer be protected from any claims by your creditors and/or the Official Assignee.
However, if you are unable to set aside the CPF Minimum Sum and Medisave Required Amount, your investments will not be transferred to you. Upon liquidation of your investments, the sale proceeds will be credited to your CPF Investment Account for CPFIS-OA or Special Account for CPFIS-SA. |
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