Clarifications

We are aware of a WhatsApp message circulating, which says that when you pass away, your CPF savings will be transferred to your nominee(s)’ CPF accounts to be paid out through monthly payouts once they turn 65. This is not true.

At Budget 2024, it was announced that the CPF Special Account (SA) will be closed for members aged 55 and above from early 2025. The Ministry of Manpower would like to clarify misconceptions on social media regarding the purpose of the CPF system and why the SA will be closed.

Almost 7 in 10 active CPF members have set aside their cohort's BRS at age 55 in 2022. This proportion includes members earning below the median income for those aged 55 years old in 2022 who have used their CPF savings to repay housing loans.

No one can predict how long they would live. That is why members should opt for CPF LIFE for peace of mind in case they live longer than expected.

If you are unsure, always check with CPF Board directly. Making wrongful claims without verifying with us is unhelpful and irresponsible.

The Independent Singapore (TISG) had recently reposted an old and misleading article which speculated that a 71-year-old elderly man, Mr Lim, was left homeless when he lost his job. This misleading article was first published in March 2019 and reposted by TISG on 5 December 2021.

You may have come across a YouTube video that claims to reveal “Shocking secret about CPF LIFE that most people aren’t aware of”.

The creator of the video has miscalculated the amount of premiums paid to join CPF LIFE. This error led to the misleading conclusions in the video …

You may have come across an online article by The Online Citizen (TOC) on Ms Sua Li Li (identified as “Ms Soo”). Agencies are assisting Ms Sua on her housing needs and daily expenses…

You may have come across an online article alleging that (i) CPF members cannot withdraw their CPF savings if they do not meet the Full Retirement Sum and Basic Healthcare Sum, (ii) no explanation was provided for the review of the Retirement Sum Scheme (RSS) payout duration from age 95 to age 90 and that (iii) the Government refuses to raise CPF interest rates.

These assertions are untrue…

You may have come across an online article featuring Mr Sim Kay Chuan who suffers from a heart condition.

Mr Sim has applied to withdraw his CPF under medical grounds. His own doctor made 2 separate assessments, and certified that he is not unfit for employment and is suited for jobs that do not require physical exertion. In addition, CPFB engaged two other doctors to assess his condition …

Mr Clifford Theseira states that he had to resort to be a Grab driver as his CPF payout of $575 per month was measly.

This is not a full reflection of his circumstances. Mr Theseira had withdrawn a total of about $140,000 from his CPF since turning 55. If Mr Theseira had not done so, his monthly payout could be more than $1,000 per month instead...

Mr Michael Toh Thiam Hock claims that most of his CPF savings had been transferred to MediSave without his authorisation. This is not true. If there were such transfers, it would appear on his CPF statements.

In February 2019, in response to Mr Michael Toh’s allegation that his CPF savings were locked up, we had informed him that although he does not have enough CPF savings to meet his cohort Basic Retirement Sum, he is eligible to make a withdrawal of about $10,000 from his Ordinary Account (OA) and Special Account savings...

You may have come across a Facebook post by Ms Emily Boo (also known on Facebook as "Ms Yukimi Wu") lamenting that her father who has been missing for 23 years, continued to have his MediShield Life premiums deducted.

We empathise with "Ms Wu" and the situation that her family is facing. Our record shows that neither Ms Boo nor any of Mr Boo's family members have approached the CPF Board (CPFB) for assistance on this matter. We have reached out to Ms Boo to explain the steps to declare her father as deceased...

We would like to clarify online stories alleging that Mdm Sarojini was forced to seek treatment at Parkway Cancer Centre (PCC) and Mount Elizabeth Hospital (MEH) and not the National University Hospital (NUH) because those were the only medical institutions that gave her the hope that she will survive. To help his wife, Mr Suriia Das is appealing for his CPF retirement savings to be used for her medical expenses. It is important to make the following information public because of the misleading information that had been put out…

Mr Lim visited the Woodlands Service Centre on 26 June 2019 to request to use his CPF savings for his daughter’s school fees.

To safeguard their retirement savings, members aged 55 and above can use their Ordinary Account savings for education, only after they have set aside their Full Retirement Sum, or Basic Retirement Sum (with property)…

As announced in Parliament in 2012 and widely publicised in the media, CPF LIFE is mandatory for members born from 1958. It provides members with a regular stream of income for as long as they live so they do not risk outliving their savings.

Like those in Mr Phua’s cohort who turned 55 in 2015, Mr Phua was sent two letters inviting him to select his CPF LIFE plan...

You might have seen a post by “Valerie Chan” asking why she can't freely use her CPF for her tertiary education. There is no CPF member with the name matching her situation.

As “Valerie” stated, CPF is for retirement. Students who use CPF for their education are notified upfront of the refund requirement...

You may have come across an article circulating online involving Mdm Carena Tan, who appealed to withdraw her CPF for her son’s alternative medical treatment overseas.

Mdm Tan is 56 years old, and had drawn out part of her CPF last year. Her son is 25 years old. It is important for Mdm Tan to preserve her CPF savings because these are needed for herself and son later on...

We’ve contacted the member, Mr Michael Toh, to explain that most of his CPF savings are in his MediSave Account, which can be withdrawn to help with major healthcare expenses as members age. For other needs, Mr Toh can withdraw savings from his Ordinary Account and Special Account (SA)......

You may have seen an article circulating online about a member’s CPF Retirement Sum Scheme payout period lasting 28 years.

It’s increasingly common for Singaporeans to live to their 80s and 90s. Making payouts last longer protects CPF members from outliving their savings...

You may have come across social media posts and messages that claim that the Government has quietly shifted the “retirement payout age” to 70 for the Retirement Sum Scheme (RSS). This is not true and here are the facts...

In response to a Facebook post by Mdm Rahayu bte Mazlan regarding the unclaimed CPF monies she received as a nominee, we would like to clarify that the CPF Board, upon being informed of a member’s death, acts promptly to invite the nominee(s) to make a claim on the deceased’s CPF savings...

You may have come across articles giving you misleading information about CPF. Here are some quick facts to help you separate fact from fallacy...

From time to time, messages or rumours are circulated on social media that when we pass away, our CPF savings will be automatically deposited into our nominees’ MediSave Account. This is not true...

A misleading post titled "CPF LIFE eats all your interest if you die early? How many know this?” has been posted online. Read on to get your facts on CPF LIFE...

You might have seen online posts or messages that begin with “Dear CPF Board, you are the appointed agency to manage my retirement fund …” and are signed off by “Your Friend”. These posts and messages are misleading...

You might have seen a message that begins with “Interesting read: - A very well written letter to CPF Board”. It may be interesting but it’s misleading...

After I turn 55, what happens when I sell my property previously financed with CPF savings?

To help you set aside savings for your retirement, a portion of your sales proceeds will be refunded to your CPF when you sell your property to restore your CPF savings to what it would have been if your OA savings had not been withdrawn to pay for your house...

Made a CPF nomination and wondering if your CPF savings will be paid in cash to your nominees or transferred to your nominees’ CPF accounts? By default, your nominees will receive CPF savings due to them in cash, via cheque or bank transfer...

There is a message making its rounds on WhatsApp, SMS and social media claiming that your CPF savings will be transferred to your nominee’s Medisave account by default when you pass away. There is absolutely no basis to this rumour...