Exemption from setting aside a Retirement Sum
- To apply for an exemption from setting aside your retirement sum, please provide the following documents:
- For Pensioner: Original Pension letter bearing the Pension Office’s letterhead, dated within six months, stating:
- you are currently receiving your monthly pension payouts; and
- the guaranteed monthly pension payouts must be payable for life and only be terminated upon death.
- For Annuity Policy Holder: Original annuity policy(ies) issued by MAS-registered providers (bought using cash or CPF monies under CPF Investment Schemes) bearing the provider’s letterhead, dated within six months, stating:
- you are currently receiving your annuity payouts which is guaranteed for life;
- the guaranteed monthly annuity payouts must be payable and only be terminated upon death; and
- you must be the sole policyholder and sole recipient of the annuity payouts and will not be able to change the recipient of the annuity payouts in your lifetime.
Note: Your insurer must endorse the two clauses in your policy if you can be exempted:- Where the Annuitant cancels the policy for cash surrender value, the Company is required to refund to the Annuitant’s CPF account an amount determined by the Board in accordance with the laws in force at the time the refund is required to be made.
- Where a loan of the cash surrender of the policy is granted to the Annuitant, the Board shall have a first charge on the policy to secure the refund to the Annuitant’s CPF account of an amount determined by the Board in accordance with the laws in force at the time the refund is required to be made. The Company shall not be entitled to use part or all of any annuity payment to repay the outstanding loan.
- Singapore Identity Card/Malaysian Identity Card/Foreign Passport
- For Pensioner: Original Pension letter bearing the Pension Office’s letterhead, dated within six months, stating:
- This withdrawal application should only be submitted by the account holder. Applying for withdrawals from an account that does not belong to you may constitute a criminal offence.
- You may be required to produce further evidence or supporting documents to support your application.
- If you have any outstanding tax liabilities, part or all of the payment due to you will be forwarded to the Inland Revenue Authority of Singapore (IRAS) for the settlement.
- If you are participating under the Combined Retirement Sum Scheme, you will not be eligible to apply for an exemption.
- Your monthly payout rate may be reduced accordingly if you are eligible for a partial exemption.
- For more information on exemption, please refer to cpf.gov.sg/service/article/can-i-be-exempted-from-cpf-life.
Service Standards
- Your application will be processed and approved generally within one month, after which we will make payment (if any) to you. This processing time allows us to review your pension/annuity documents, verify any outstanding tax matters with IRAS, and handle changes to your CPF LIFE policy if needed. We may contact you if additional information is required.
- You may log on to cpf.gov.sg with your Singpass to check your statement online.