The bank account provided under your
Account settings will be used for CPF payments such as:
- Withdrawals of CPF savings from age 55
- Monthly payouts
- Cash bonus received under Silver Housing Bonus scheme
- Cash bonus received under Lease Buyback Scheme
- Sale proceeds from Singtel SDS
- Withdrawals of deceased member’s CPF savings
This does not include long-term care payouts (e.g. CareShield Life, ElderShield and MediSave Care) where application is made through the Agency for Integrated Care, and Government payments (e.g. GST Vouchers, Workfare Income Supplement and Silver Support Scheme).
