Anonymous

11 Dec 2023

∙

Is it ok if my OA balance drop to below $20k this month? May I know if there will be penalty or interest charged? (Will have a deduction of $7k coming up & just realised my OA only has $22k now) 🙏🏻

I will have $20k coming back from tbills end of December... so balance will go up above $20k again.. just that for a few weeks in dec, the balance will be less than $20k..

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SH

17 Dec 2023

I think cpf will not allow the 7k to go through.. anything below 20k transaction will not go through.

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Ian

16 Dec 2023

No penalty

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Eiscue

16 Dec 2023

I dont think there is any penalty on cpf...

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Kent Toh

14 Dec 2023

Consultant at Sprinklr

Simi penalty? CPF is not bank, no minimum sum required.

You wipe till $0 also can.

You just lose out on the 3.5% interest on your first $20K OA.

Your OA savings earn risk-free interest of 2.5% annually, which allows you to accumulate more funds in your OA for future retirement or housing needs. *Additional 1% is paid on the first $60,000 across all CPF accounts, which is capped at $20,000 for the OA.

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Javier Tan Yan Kai

13 Dec 2023

Actuarial Analyst at AIA

Lesser interest lor...

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