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Watch this video to see how the changes made in the CPF (Amendment) Bill 2021 to simplify the CPF system can benefit you.


Here is the summary of the CPF (Amendment) Bill:


Continuation of retirement payouts from Ordinary and Special accounts


Members who have fully withdrawn their Retirement Account savings but still have funds in their Ordinary or Special accounts (OSA), will automatically receive monthly payouts from their OSA. This will apply to members who are not under CPF LIFE from first quarter 2022.



Higher CPF LIFE payouts following inflows to Retirement Account


From November 2021, CPF LIFE members who receive inflows, such as top-ups or housing refunds, will see an automatic increase in their CPF LIFE payouts. Members will start receiving higher payouts from July 2022. Currently, they have to apply to increase their CPF LIFE premiums with these inflows. Otherwise, these inflows will be paid to them as additional monthly payouts outside of CPF LIFE.



Transfer of Ordinary and Special accounts savings to Retirement Account at payout start age


For members turning 65 from 2023, their Ordinary and Special accounts savings will be transferred to their Retirement Account, up to their Full Retirement Sum, when they start their monthly payouts instead of when they are eligible to start payouts. This allows members to receive higher monthly payouts.



Givers to benefit from tax relief from top ups to loved ones’ MediSave


With effect from 1 January 2022, members who top up their loved ones’ MediSave will enjoy tax relief. Currently, tax relief is given to recipients of MediSave top-ups. 



Tax relief of up to $8,000 a year for top-ups to self and loved ones respectively


From 1 January 2022, members can enjoy $8,000 tax relief, up from $7,000, when they top up their own CPF account in cash. They can enjoy another $8,000 tax relief when they top up for their loved ones. This cap in tax relief is applicable for top-ups to Special, Retirement and MediSave accounts.



Simplification of top-ups to MediSave


Starting 1 January 2022, the amount members can top up to MediSave will be the difference between their Basic Healthcare Sum (BHS) and their current MediSave balances. Currently, members have to consider the CPF Annual Limit and BHS for top-ups to MediSave. With the simplification, there is no longer a need to consider the CPF Annual Limit which is typically made known only at the end of each year.


Please note that the above may not apply if you are a self-employed person (SEP). Do visit the Self-Employed Scheme page for more information on topping up your MediSave account.



Beneficiaries to receive CPF monies faster and with greater ease


  • Un-nominated CPF monies: A beneficiary representative can apply to the Public Trustee’s Office (PTO) to receive un-nominated CPF monies, not exceeding $10,000, with the consent of all eligible beneficiaries. As PTO will only need to verify the information of one family member, this allows the beneficiaries to receive the un-nominated monies faster.

  • Singtel Discounted shares of deceased members with nomination: From 1 April 2022, nominees with bequeathed shares will automatically receive the sale proceeds from the liquidated shares as cash and their nominated CPF monies, without having to submit any application. This is made possible as the nominated shares will automatically be liquidated six weeks after we are notified of a member’s death, down from seven years. Nominees still retain their rights to transfer the shares to their CDP accounts before the liquidation if they wish to do so.



Recovery of Government grants from members


When a member no longer meets the continuing eligibility conditions to receive the Government grants, he or she will have to refund these grants with interest. This prevents people from gaming the system and helps ensure fairness for all.



Read more on:


Retirement Sum Scheme


Retirement Sum Topping- Up Scheme

MediSave Top-up

CPF Nomination

Singtel Discounted Shares