You can
apply to reserve all or part of your Ordinary Account (OA) for housing payments. This prevents these funds from being automatically transferred to your Retirement Account when you turn 55
When to apply
You can apply within six months before your 55th birthday. Please allow at least five working days for processing.
Eligibility
You do not need to/cannot reserve OA savings if:
- You are above 55 years old; or
- Your Special Account (SA) savings can meet your Full Retirement Sum (so no OA savings will be transferred to your RA when you turn 55) or
- You have fully redeemed your housing loan; or
- You have withdrawn your CPF under the Reduced Life Expectancy (RLE) scheme.
Important considerations
The reserved amount will remain in your OA and earn 2.5% instead of being transferred to your Retirement Account to earn 4% interest. This could reduce your monthly payouts when you are eligible to start your monthly payouts, so it is important to plan your finances carefully and consider how housing reservations may impact your retirement plans.
Usage restrictions
The reserved OA savings can only be used for housing payments, subject to applicable housing withdrawal limits. You cannot use these reserved funds for other CPF schemes, including Home Protection Scheme premiums.
After age 65
When you begin receiving monthly payouts, any unused reserved OA savings will be transferred to your Retirement Account if you have not set aside the Full Retirement Sum. This transfer helps to increase your monthly payouts. Please remember to make alternative financing arrangements for your housing loan repayments when you
apply to start monthly payouts.
Making Changes to Your Reservation
If you would like to amend your reservation, please visit this
FAQ. To cancel your reservation entirely, please visit this
FAQ.
