Whether your CPF can be used to repay housing loans after 55, depends on how much CPF savings you have at 55, and how much you have already used for housing.
When you turn 55, a Retirement Account (RA) is created using savings from first your Special Account, then Ordinary Account (OA) to meet the Minimum Sum (MS) relevant to your cohort. While the MS provides monthly payouts from your draw down age, the balance in your OA can be used for housing loan repayments.
Members who are able to set aside more than half of the MS, will be able to use the amount in excess of half of the MS for housing loan repayments.
For example:
 |
If you continue working after 55, your CPF OA contributions can also be used for housing loan repayments.
However, housing withdrawal limits may apply. This is to safeguard members from overspending on their housing loan repayments at the expense of their retirement savings.
Source: InTouch CPF
Here at this site really the fastidious material collection so that everybody can enjoy a lot. Progressive Finance
ReplyDeleteLenders can be more flexible when it comes to secured loans, making a secured loan possible when you may have been turned down for an unsecured loan. Fix Flip Loans North Carolina
ReplyDeleteI don’t waste my free time that’s why I read the informative things when I got this blog I really enjoyed reading this. bad credit loans from Loans Geeks
ReplyDeleteNow that is the thing that I call a colossal blog. Wonderfully composed.
ReplyDeletelong term cash loans
It would not be reasonable in the event that we compliment all the blog compositions yet not the creator. Incredible Work!
ReplyDeleteguaranteed approval bad credit loans
With a Debt Consolidation Loan you can borrow from £5,000 to £75,000 and up to 125% of your property value in some cases. It can reduce BOTH your interest costs AND your monthly repayments, putting you back in control of your life.payday loans las vegas nv
ReplyDeleteI adore your websites way of raising the awareness on your readers.
ReplyDeleteshort term cash loans
Wow i can say that this is another great article as expected of this blog.Bookmarked this site.. alternative called TheLoanRepublic.com
ReplyDeleteHello, this weekend is good for me, since this time i am reading this enormous informative article here at my home. Buymodafinilonline.reviews buy modafinil online is packed with essential features
ReplyDeletedefinately enjoy every little bit of it and I have you bookmarked to check out new stuff of your blog a must read blog! MONEY LENDING
ReplyDelete