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Housing Scheme



QWhat are the differences among the Retirement Sum Topping-Up (RSTU) Scheme, top up as Voluntary Contributions and Voluntary Housing Refund?
A

Please refer to the table below for more information on how you can contribute to your CPF Account. You can make:

  • Top-ups under the Retirement Sum Topping-Up (RSTU) Scheme; and/or
  • Voluntary Contributions (VC); and/or
  • Voluntary Housing Refund
 

RSTU Scheme 

Voluntary Contributions

Voluntary Housing Refund 

Top up to   • Special Account (for members below 55); or

• Retirement Account (for members aged 55 and above)

 
• Ordinary, Special and MediSave Account (according to the current allocation rates* for your age group); or

• MediSave Account only

*Use the CPF Contribution Allocation Calculator to see how your VC will be allocated to the 3 accounts
 
• Ordinary Account and/or

• Retirement Account (for members aged 55 and above and have not met their Full Retirement Sum in their Retirement Account)
 
Base interest rate per annum  • Special Account: 4%
• Retirement Account: 4%
 
• Ordinary Account: 2.5%
• Special Account: 4%
• MediSave Account: 4%
 
• Ordinary Account: 2.5%
• Retirement Account: 4%
 
Eligible for tax relief  Cash top-ups made within the current Full Retirement Sum will be eligible for tax relief.  • Top up your MediSave Account. Please refer to this link for more information.
• For information on tax relief if you are making VC as a self-employed person, please refer to this link.
 
Not eligible for tax relief 
Limit to top up   How much cash top-up or CPF transfer can a recipient receive?

The maximum amount you can set aside in your Special Account (if you are below 55 years old) or Retirement Account (if you are on and above 55 years old) is the Current Full Retirement Sum and the Current Enhanced Retirement Sum. You may check your topping up limit through my cpf Online Services > My Messages.
 
What is the limit for Voluntary contributions (VC)?

There are two types of Voluntary Contributions (VC) – one is made to all 3 CPF accounts and the other is voluntary contributions to just the MediSave Account.

In general, the maximum amount you can top up is the difference between the CPF Annual Limit of $37,740 and the mandatory contributions (MC) made for the calendar year. Hence, the MC and VC made in a year cannot exceed the current CPF Annual Limit.
MC refers to compulsory contributions required under the CPF Act. These include CPF contributions on the Ordinary and Additional Wages for employees, and MediSave contributions by self-employed persons.

Do note that top-ups to the MediSave Account is further subject to the member’s Basic Healthcare Sum (BHS). Therefore, once the member’s BHS is reached, no further top-ups to the MediSave Account can be made.

Any excess funds will be refunded without interest.
 
How much voluntary housing refund can I make?

You can refund any amount, capped at the full principal amount you have withdrawn for the property with the accrued interest.

You may check the amount that you can refund through my cpf Online Services > My Statement> Property (under section C)> My Public or Private Housing Withdrawal Details.

Do note that after a full voluntary housing refund of the CPF savings withdrawn and accrued interest, all CPF withdrawal including monthly housing loan instalment (if any) for the property will be stopped.
 
Withdrawal  Top-ups are meant for your retirement needs. They cannot be withdrawn in a lump sum:

• under any CPF schemes for payment of education, investments, insurance, housing, CPF transfers etc;

• from the Retirement Account (even if you own a property); or

• via exemption from setting aside a retirement sum in the Retirement Account.

Top-ups will form part of your Retirement Account savings, which will be used to provide you with monthly payouts from your payout eligibility age.
 
After turning 55 and setting aside the Full Retirement Sum, you can withdraw the remaining balances in your Ordinary and Special Accounts in full or partially at any time.

MediSave Account savings are meant for your healthcare needs and cannot be withdrawn as cash.
 
You can continue to use your Ordinary Account savings for the same or next property after effecting a voluntary housing refund.

However, if you would like to use your Ordinary Account savings for the same property, after making a voluntary refund of the full principal amount used with the accrued interest, please take note that:

• HDB flat: you will need to re-apply to use your CPF savings

• Private property: You will need to re-apply to use your CPF savings and you will need to pay legal costs as a new CPF charge has to be lodged on the property.

After turning 55 and setting aside the Full Retirement Sum, you can withdraw any remaining voluntary housing refund in your Ordinary Account in full or partially at any time.
 
Application Top-ups can be made using cash and/or CPF savings.

How do I apply to top up my/my recipient's Special/ Retirement Account under the Retirement Sum Topping-Up Scheme?
 
Top ups can only be made via cash.

How do I make a Voluntary contribution (VC) to my CPF Account(s) or on behalf of someone else?
 
Refund can only be made via cash.

I am not selling my property. How can I make a voluntary refund of the housing amount withdrawn?
 




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