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Withdraw Retirement Account Savings above Basic Retirement Sum – Payment via PayNow/Interbank GIRO Withdraw Retirement Account Savings above Basic Retirement Sum – Payment via PayNow/Interbank GIRO TrueTrue

 

 

Withdraw Retirement Account Savings above Basic Retirement Sum – Payment via PayNow/Interbank GIRO Withdraw Retirement Account Savings above Basic Retirement Sum – Payment via PayNow/Interbank GIRO <strong>Information on Withdrawal of Retirement Account Savings</strong> <p> </p><ol><li>As you own a property that is bought using your CPF savings, you may set aside a lower retirement sum, i.e. the Basic Retirement Sum (BRS), in your Retirement Account (RA). The RA savings that may be withdrawn excludes interest earned, any government grants received and top-ups made under the Retirement Sum Topping-Up Scheme.</li><li>If you have any outstanding tax liabilities, part or all of the payment due to you will be forwarded to the Inland Revenue Authority of Singapore (IRAS) for the settlement.</li><li>You need not provide any documents or bank account information for this application if you choose to receive your CPF savings in your PayNow registered bank account that is linked to your Singapore NRIC.</li></ol>

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