Hello All, do you know which bank will the Prudential CPF investment be returned back to? I heard that I need to inform the bank to return the money back to my CPF OA so I can use it for my BTO?
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30 Jul 2019
Senior Financial Services Manager at Phillip Securities (Jurong East)
Funds will be returned to the bank that you opened your CPF investment account with. It will be a local bank. The bank will hold it for a period of time (3-4 weeks) before transferring it to CPF. Hence if you need the liquidated funds to be moved to CPF fast, you need to give specific instruction to them to move it.
Vincent Tan Wen Bin
17 Jun 2019
Assistant Vice President at Thinkers Alliance
Assuming you purchase this Prudential investment using your CPFIA,
Once the investment is redeemded, it will be refunded back to your CPFIA.
You will need to go to the bank to request for a refund from your CPFIA back to your CPF OA account.
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