LL

10 Jun 2020

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Do I get to choose between the basic and full retirement sum?

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Elijah Lee

10 Jun 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi Ling,

You do have a choice. The default option is FRS, but I believe you have to inform the CPF Board before you turn 55 that you wish to set aside the BRS with a property pledge.

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Shengshi Chiam, CFA

10 Jun 2020

Personal Finance Lead at Endowus

Depends if you pledge your property or not!

If you pledge your property, you can choose to be on basic retirement sum.

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Related Posts

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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?

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?

My parents are nearing 70 years old, and dont hit the retirement sum. What should I do with regards to the Retirement Sum Scheme - do I get to choose the plan for future payout for them?