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Anonymous

02 Nov 2019

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Is there any use in CPF’s OA account and SA account after one turned 55 years old?

Parent is still working and CPF is still being contributed? Is shifting OA to RA better for more interest?

Are we allow to withdraw what we have in OA and SA at age 65?

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Elijah Lee

02 Nov 2019

Senior Financial Services Manager at Phillip Securities (Jurong East)

You are allowed to withdraw your OA and SA after 55, after setting aside FRS (Or BRS with property pledge)

Note that transferring OA to RA is one way. Your parents may wish to consider OA and SA as a kind of high interest savings account. Note that in terms of withdrawal, SA money must be withdrawn first, before OA.

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My flat is 70% paid up. My CPF OA is 10k, SA is 60k. By year end I will be 55. Can I still use 20k of my SA to invest before my RA is created? If yes, what are some of the investments to go for short term?

CPF is ultra confusing and I have a hard time understanding it. My mum has only 25k in her OA and SA combined. MA has ard 22k. She is turning 55 next year. Does she qualify for FRS/CPF Life?

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What is the best way to accumulate CPF savings before turning 55 years old but can no longer top up SA?

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