Retirement income

Withdraw CPF savings for immediate retirement needs

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Notice: From 29 May 2024, to safeguard CPF members against scams, to make a PayNow withdrawal, you will need to set your bank account to “PayNow NRIC-linked bank account” via Account settings and undergo a one-time 12 hour cooling period for it to take effect, before completing the application. This update is required even if you have withdrawn via PayNow previously, as a one-time exercise to strengthen security settings for withdrawals.

CPF members can make withdrawals from their CPF savings starting from age 55.

The amount you can withdraw depends on your birth year and the age you are making the withdrawal. You do not need to withdraw everything; you can withdraw only what you need, when you need it and as often as you need to because with PayNow, you can receive your CPF savings almost instantaneously.

Important notes

  • Beware of scams. Government officials will never ask you to transfer CPF savings to them. If you get such a request, call the 24/7 ScamShield anti-scam helpline via 1799 and inform CPF Board.
  • Before you begin, ensure that you have updated your contact details and provided a bank account in Account settings.
  • You may need to further verify your identity to complete this application.