CPFB | Withdrawal of CPF savings for property owners

Retirement income

Withdrawal of CPF savings for property owners

You can access more funds in your CPF savings for immediate needs if you own property in Singapore.

Notice

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Property owners

What kind of property must you own to make the withdrawal?

A Singapore property

The property you own must be in Singapore.

Lease which lasts you up to age 95

The remaining lease on your property must last you up to at least age 95.

Withdrawals for property owners

Because property owners won’t need to worry about rent during retirement, they have the flexibility to set aside their FRS with a mixture of property (up to half the FRS, which is the Basic Retirement Sum (BRS)) and cash, and withdraw part of their Retirement Account savings down to the BRS.

Withdrawing now will lower your future monthly payouts. You don’t have to withdraw the full sum in one go. So weigh your short- and long-term needs carefully.

Not a property owner? You can still make a CPF withdrawal through these other options.

Other retirement withdrawals

Important things to note before you make a withdrawal

If you have used CPF savings for your property

You can withdraw your savings without providing additional documents as long as the retirement sum you set aside after the withdrawal, plus the CPF savings you have used for the property including the accrued interest, is enough to make up your Full Retirement Sum (FRS).

When you sell your property, the CPF savings you used to pay for it, including accrued interest, will be refunded to your CPF account. This will restore your retirement sum and payouts.

If you used none to little CPF savings for your property

If you did not use CPF savings for your property or if the CPF savings used for the property amount is low, you can still make a withdrawal down to the BRS, by pledging to refund the amount withdrawn when you sell or transfer your property.

The withdrawable amount is subject to additional assessment, such as the current value of the property, the outstanding loan, and co-owners' share. To preserve your savings and safeguard your retirement, withdrawals from your Retirement Account can only be made if the sale or transfer of your property restores the retirement sum and payouts.

See examples here

The amount of Retirement Account (RA) savings you can withdraw excludes interest earned, any government grants received and top-ups to your retirement savings. It also depends on your RA balance at the point of withdrawal. For example, if you are on CPF LIFE and have started your monthly payouts, any new inflows received in your RA will be used to increase your CPF LIFE premium and you will not be allowed to withdraw them.

Important information

For members who have not used or have insufficient CPF usage for your property

If you own an HDB flat

Application process

Provide your co-owners’ consent, HDB flat information, and HDB or bank loan information. You’ll receive the withdrawal amount if your application is approved.

If you own a private property

Application process

As part of your application, you need to provide:

Your co-owners’ consent
Bank consent if there is an outstanding loan
Valuation report (only upon CPF’s request)

Lodgement of a statutory charge on your property is required to secure refund of the withdrawn amount upon sale or transfer of your property. You’ll need to pay any fees incurred. Your application will then be processed upon successful lodgement of the charge.

FAQs

Common questions

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If you own an HDB flat

If you own a private property