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26 Apr 2022
SOURCE: CPF Board
Thinking of putting your flat up for sale, and working out how much CPF you can use for your next property?
Here’s what happens to your money after you sell your flat.
Upon selling your property, you will need to refund to your Ordinary Account (OA):
The refunded monies will remain in your CPF account to ensure that you have enough savings for your future needs—whether it is to fund your next home or your retirement.
Do remember, you can always reuse your OA savings for the purchase of your next home!
Upon selling your property, you will need to refund to your CPF savings:
CPF savings are primarily meant for your retirement needs and any CPF funds utilised for purchasing a property will reduce the amount available for your retirement. Therefore, all or part of the refunded amount will be used to top up your Retirement Account (RA) to your FRS*. Any balance will be paid to you in cash. You can also inform us if you wish to retain the balance housing refund in your CPF Account(s) instead.
You can then reuse the Ordinary Account savings to purchase your next property, subject to the applicable housing rules and limits.
*You may withdraw your RA monies above your BRS (excluding interest earned, government grants and any top-ups made under the Retirement Sum Topping-Up Scheme) for your personal needs if you own a property. Note that doing so will reduce your retirement income.
Information accurate as of the date of publication.