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How is my voluntary housing refund used to set aside my Retirement Sum if I am 55 years old and above?

The refunded amount will be used to meet your cohort's Full Retirement Sum (FRS) if you’re 55 years old and have not met the FRS. Please refer to the example below on how the voluntary housing refund is used to meet your FRS.



1. You turned 55 years old in 2023

2. Your cohort’s Full Retirement Sum is $198,800

3. You have received less than $30,000 in housing grants

Current RA balance  $98,800

Current OA balance

Principal amount withdrawn for the property and the accrued interest (P+I) $500,000

If you make a voluntary housing refund of $200,000

New RA balance

The vHR of $100,000 is used to top up to RA to meet the cohort’s FRS


New OA balance

  • The remaining vHR of $100,000 remains in OA after topping up RA to meet FRS
  • The balance in OA can continued to be used for housing payments

Revised P+I

The vHR of $200,000 is used to reduce the P+I