I am aged 55 and above. Can I receive the excess housing refunds via a different bank account or different payment mode?
If you are aged 55 and above and would like to update your bank account details to receive your excess housing refunds, please update via Account settings with your Singpass at least two weeks before the completion of your property sale.
To better protect members from scams, we will only accept bank accounts where the bank is able to provide automated bank account verification to CPF Board. This ensures that payment will only be made to a bank account belonging to the member. Currently, only POSB, DBS, OCBC and UOB are able to provide this service. We welcome any other bank to set up similar arrangements with us.
The same bank account will also be used for payments under CPF schemes such as CPF monthly payouts and CPF withdrawals from age 55 (see list of payments).