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Linda Foo

27 Jun 2021

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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

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Tan Choong Hwee

27 Jun 2021

Solutions Specialist at Providend

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If I had withdrawn my Retirement Account savings above the Basic Retirement Sum, how much must I refund to my CPF account when I sell/transfer my property?

When you sell/transfer your property, you would need to refund the CPF principal amount that you had withdrawn for the property including the accrued interest (P+I), and the amount withdrawn from Retirement Account (if applicable).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.

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