Advertisement

Linda Foo

27 Jun 2021

∙

After selling property that was pledged for the Basic Retirement Sum, would one be asked to top up to Full Retirement Sum if the intention to buy the next property happens only 2 years later?

Property that was pledged for the Basic Retirement Sum

1

Discussion (1)

What are your thoughts?

Learn how to style your text

Tan Choong Hwee

27 Jun 2021

Investor/Trader at Home

Refer to this FAQ on CPF website:

If I had withdrawn my Retirement Account savings above the Basic Retirement Sum, how much must I refund to my CPF account when I sell/transfer my property?

When you sell/transfer your property, you would need to refund the CPF principal amount that you had withdrawn for the property including the accrued interest (P+I), and the amount withdrawn from Retirement Account (if applicable). The refunds will be made from the sale proceeds and used to restore your Retirement Account up to your Full Retirement Sum.

So yes, need to restore your RA to FRS regardless of your intention to buy the next property.

Reply

Save

Write your thoughts

Related Posts

Hello all, should I do a RTSU to Full Retirement Sum or let it accumulate to FRS over next 2 to 3 years with each year only topping up 8k to earn tax relief at 11.5% tax bracket? Thank you.

I will most probably be buying a house in 4-5 years time. Would you advice to save up the house fund in bank or buy safe stocks and sell it 4-5 years later to fund for housing expense (reno etc.)?

What happens to the CPF ENS if the beneficiary already hit the full FRS (full retirement sum) or BHS (basic health sum)?

Will the BRS (basic retirement sum) and FRS (full retirement sum) keep increasing as we age and hit the 55 year old mark? What will be a good number to predict?

I am a 24 year old female who has just started working full-time this year and abit bth la so I am already thinking of retirement. As such, I would like to ask about the steps to plan for retirement?

Related Posts

Hello all, should I do a RTSU to Full Retirement Sum or let it accumulate to FRS over next 2 to 3 years with each year only topping up 8k to earn tax relief at 11.5% tax bracket? Thank you.

I will most probably be buying a house in 4-5 years time. Would you advice to save up the house fund in bank or buy safe stocks and sell it 4-5 years later to fund for housing expense (reno etc.)?

What happens to the CPF ENS if the beneficiary already hit the full FRS (full retirement sum) or BHS (basic health sum)?

Will the BRS (basic retirement sum) and FRS (full retirement sum) keep increasing as we age and hit the 55 year old mark? What will be a good number to predict?

I am a 24 year old female who has just started working full-time this year and abit bth la so I am already thinking of retirement. As such, I would like to ask about the steps to plan for retirement?

Advertisement