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- Reaching 55
...Planning Your Golden Years

 
How much can I withdraw?
 
Upon reaching 55 years old, you can withdraw a portion of your CPF savings depending on your CPF balances.
 
1.
Ordinary Account, Special Account and Medisave Account
 
You can withdraw a lump sum from your Special Account and/or Ordinary Account as well as any balance above the Medisave Minimum Sum (MMS) in your Medisave Account (MA).
 
 
When you withdraw, you will need to set aside the CPF Minimum Sum (MS) in your Retirement Account (RA). If you have met the CPF MS requirement and do not have the MMS, you need to top up your MA with all or part of the balances from your Special Account and Ordinary Account to meet the MMS prevailing at the time of withdrawal.
 
 
You will be able to use your RA savings to buy a CPF LIFE plan which is a life insurance annuity. You will get a payout starting from your drawdown age, for as long as you live.
 
 
If you have RA savings above half your CPF MS, you:

  1. may apply to use the savings above half your CPF MS to service your housing loans; or
  2. may apply to pledge your property to withdraw your RA savings that is above half your CPF MS.

 
You should also carefully use or invest the CPF savings which you withdraw. Together with your personal non-CPF savings, they will supplement your monthly LIFE payouts.
   
2.
Postpone your CPF withdrawal to a later date.
 
If you are working after 55 or do not need to use your CPF savings yet, you can postpone your withdrawal and continue to build a larger nest egg. Your OA savings will earn at least 2.5% pa while your SA savings might earn more.
   
 
Use this online calculator to estimate how much you can withdraw and the amount that might be set aside in your Retirement Account.

Withdrawing my CPF

If you wish to withdraw your CPF, you can do so by logging on to “my cpf Online Services – My Requests > Retirement”. You will need your SingPass to complete the transaction online. Click here to have an indication of how much you can withdraw. Once your application has been processed successfully, you will be able to view your Withdrawal Advice when you logon to my cpf.

More Savings For Your Healthcare Needs

You may transfer your withdrawable balances from your Special Account and/or Ordinary Account to your Medisave Account for your healthcare needs in retirement. To do so, simply instruct the Board to make the transfer to your Medisave Account upon your CPF withdrawal. The transfer of the savings to your Medisave Account is capped at the prevailing Medisave Contribution Ceiling or Voluntary Contributions Limit, whichever is lower.



Reaching 55 

How much is the Minimum Sum?
What can I do with the Minimum Sum?
CPF LIFE
Minimum Sum Scheme
Medisave Minimum Sum
What if I continue working after 55?
What about my housing loan?
What about my investments?

What happens if I divorce?

What happens if I am a bankrupt? 
What if I am a pensioner? 

When I am no longer around

Moving forward
 Last Updated on: Monday, June 30, 2014 at 6:28 PM
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