1.      The voluntary top-up (VC) to CPF accounts is irreversible and cannot be refunded.

2.       Excess VC will be refunded without interest to the Member if the total mandatory CPF contributions and voluntary top-ups exceed the CPF Annual Limit in the calendar year. If the Member’s bank account details are not provided in Account settings or if the bank account has been closed, the refund will be made to his/her PayNow NRIC-linked bank account by default. Member can update his/her bank account details at cpf.gov.sg/member/ds/account-settings

3.      For VC to CPF accounts of Members age 55 and above, the CPF contributions allocated to the Retirement Account (RA) will be up to the Full Retirement Sum (FRS). Once the FRS is set aside in the RA, the excess contributions will be channelled to the Ordinary Account.

4.      For VC to CPF accounts, any MediSave contribution in excess of the Member’s Basic Healthcare Sum (BHS) will be transferred into the Member’s Special/Retirement Account or Ordinary Account+.

+The MediSave contribution in excess of the Member’s BHS will be transferred to the Special Account if the Member is below the age of 55 and has less than the current Full Retirement Sum, or to the Ordinary Account if the Member has set aside the current Full Retirement Sum in the Special Account. If the Member is 55 and above and has not set aside the Full Retirement Sum or Basic Retirement Sum (with sufficient property charge/pledge) in the Retirement Account, the excess MediSave contribution will go to the Retirement Account, or to the Ordinary Account if the Member has set aside the applicable retirement sum.

5.      Tax relief on VC to 3 CPF accounts only applies to:

·         Platform workers who did not opt in to increased CPF contributions. A personal income tax relief will apply to voluntary CPF top-ups. This cap applies to the total amount of all tax relief claimed, including any relief on voluntary CPF top-ups.

·         Platform workers who are mandated or opted in to increased CPF contributions, for VC made from 2025 to 2028, subject to a cap.

6.       You must not be an undischarged bankrupt. If you are an undischarged bankrupt, you must obtain prior approval from the Official Assignee before making a voluntary top-up.