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Why do I need to own a property before I can withdraw part of my Retirement Account savings?

If you do not own a property*, it's important to consider rental costs when planning for your retirement. This means you may need to set aside more savings for higher monthly payouts to cover these living expenses.

On the other hand, if you own a property*, you need not worry about rental costs in retirement. In addition, you would also have the option to generate extra retirement income by monetising your property. This is why members who own property* can choose to set aside their Full Retirement Sum (FRS) with a mixture of property (up to half the FRS) and cash and withdraw part of their Retirement Account savings down to their Basic Retirement Sum^ if they have other immediate retirement cash needs.

*The property must be in Singapore and lasts you until at least age 95.

^ Excluding interest, any government grants and top-ups made under the Retirement Sum Topping-Up Scheme.