IMPORTANT NOTE

Before 1 July 2006, the Non-Residential Properties Scheme allowed CPF members to use their CPF savings to buy non-residential properties in Singapore for investment or for their own use. From 1 July 2006, the Non-Residential Properties Scheme is phased out. The CPF Board will not accept any applications under the Scheme from 1 July 2006. Members who are using CPF to service their non-residential properties before 1 July 2006 are not affected by the policy change.

1.	I bought a non-residential property before 1 July 2006 and did not use CPF for the purchase. Can I apply to use CPF to repay the outstanding housing loan?
2.	I am using CPF for the non-residential property under the Scheme. Can my co-owner, who did not apply to use CPF for the property, now applies to use his CPF to repay the outstanding housing loan?
3.	I am a sole owner of a non-residential property, and would like to sell part-share of the property to another person. Can the other person use his CPF for the part-purchase?
4.	Can I sell, mortgage or transfer my property which has been bought with CPF savings?
5.	Upon the sale of my property, how much do I need to refund to my CPF account?
6.	If I sell my property after I turn 55 years, how much should I refund to my CPF account?
7.	If I have applied to withdraw my CPF savings on medical grounds on or after 1 July 2006, what is the amount that I have to refund to my CPF account when I sell my property?
8.	If I have withdrawn my CPF savings on ground of leaving Singapore or West Malaysia permanently, do I have to refund to my CPF account when I sell my property?
9.	What happens to the property bought with CPF savings when a member passes away?

CPF Conveyancing Panel of Lawyers
1.	I bought a non-residential property before 1 July 2006 and did not use CPF for the purchase. Can I apply to use CPF to repay the outstanding housing loan?
	No, the Board will not accept any application under the Scheme, even if the purchase of the property was before 1 July 2006.
2.	I am using CPF for the non-residential property under the Scheme. Can my co-owner, who did not apply to use CPF for the property, now applies to use his CPF to repay the outstanding housing loan?
	Yes, your co-owner can apply to use CPF to repay the outstanding housing loan taken to buy the property. You and your co-owner can withdraw up to the lower of the purchase price or 70% of the value of the property. Legal documentation would be required before CPF funds can be released. Your co-owner can use CPF to pay for the legal and stamp fees incurred.
3.	I am a sole owner of a non-residential property, and would like to sell part-share of the property to another person. Can the other person use his CPF for the part-purchase?
	The other person can buy part-share in the property from you, but he cannot apply to use his CPF for the purchase.
4.	Can I sell, mortgage or transfer my property which has been bought with CPF savings?
	Yes, you can. However, you must obtain the consent of the Board before the property is sold, mortgaged or transferred. When the property you bought with CPF savings is sold or transferred, you have to return the CPF savings withdrawn plus the accrued interest to your CPF account after paying off your property loan.
5.	Upon the sale of my property, how much do I need to refund to my CPF account?
	If you sell your property on the open market, you will need to pay the required CPF refund to your CPF account. If the sales proceeds (including option monies) are not enough to pay the required CPF refund and the outstanding housing loan, the sale proceeds will be used to settle the required CPF refund and the outstanding housing loan in the order agreed among you, your mortgagee and the CPF Board. For properties bought before 1 September 2002 and not refinanced after 1 September 2002 The sales proceeds will be distributed in the following order: 1st charge Equal ranking (pari passu) - CPF principal sum plus CPF used to pay the legal and stamp fees in the purchase - Outstanding property loan from your financier 2nd charge Equal ranking (pari passu) - CPF accrued interest - Loan's interest (calculated from the date of disposal of property). 3rd charge CPF legal costs and expenses 4th charge Financier's costs and expenses For properties bought on or after 1 September 2002 or refinanced on or after 1 September 2002 The sales proceeds will be distributed in the following order: 1st charge Outstanding property loan from your financier 2nd charge CPF principal sum up to 70% of the Valuation Limit plus CPF used to pay the legal and stamp fees in the purchase 3rd charge Equal ranking (pari passu) - CPF accrued interest - Loan interest (calculated from the date of disposal of property) 4th charge Equal ranking (pari passu) - CPF legal costs and expenses - Financier's costs and expenses
6.	If I sell my property after I turn 55 years, how much should I refund to my CPF account?
	If you have pledged your property under the Minimum Sum Scheme instead of setting aside the Minimum Sum in your Retirement Account, you will only be required to refund the amount that was pledged, plus accrued interest to your Retirement Account when you sell your property. But no refunds to your CPF account are required if you did not pledge your property under the Minimum Sum Scheme.
7.	If I have applied to withdraw my CPF savings on medical grounds on or after 1 July 2006, what is the amount that I have to refund to my CPF account when I sell my property?
	The amount to be refunded to your CPF account upon the sale of the property depends on when the property is sold. The table below shows the amount to be refunded: Sale of property Amount To Be Refunded Before age 55 Principal sum withdrawn + accrued interest (P+I) On or after age 55 Property Pledge* + accrued interest, or P+I, whichever is lower * This refers to the property pledge under the Minimum Sum Scheme. If you have withdrawn under medical grounds before age 55, you will not have a property pledge. In this instance, you need to refund 50% of cohort MS (which is the maximum property pledge allowed for healthy members) + accrued interest.
8.	If I have withdrawn my CPF savings on ground of leaving Singapore or West Malaysia permanently, do I have to refund to my CPF account when I sell my property?
	You are not required to refund to your CPF account upon the sale of your property, if you have withdrawn your CPF savings on ground of leaving Singapore or West Malaysia permanently.
9.	What happens to the property bought with CPF savings when a member passes away?
	When a member passes away, the CPF savings withdrawn from his CPF account for the property need not be refunded to his account. The property will form part of his estate if it is held in tenancy-in-common or will pass on to the remaining surviving owner(s) if it is held in joint-tenancy.
CONTACT US   FOR ENQUIRIES, PLEASE CALL THE CPF CALL CENTRE AT 1800-227-1188 OR E-MAIL TO Private-housing@cpf.gov.sg