facebookI’ve recently fully paid up my 4 room Hdb flat. However, have a zero balance on my OA and maybe 20k each in Special & Medisave account. Which level of cpf life will I be entitled to if I pledge my Hdb? - Seedly
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Kathleen Kelly

Asked on 25 Nov 2020

I’ve recently fully paid up my 4 room Hdb flat. However, have a zero balance on my OA and maybe 20k each in Special & Medisave account. Which level of cpf life will I be entitled to if I pledge my Hdb?

There r 3 levels of CPF life. With nothing in OA and only 20k in SA. Can I pledge my Hdb to get the maximum CPF life payout? Thanks 😊

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Choon Wang

Choon Wang

Level 6. Master

Updated on 25 Nov 2020

Hi there!

I believe you’re asking about the Basic/Full/Enhanced Retirement Sums.

To get maximum CPF Life payout, you have to hit the Enhanced Retirement Sum by topping up.

Pledging your HDB property will get you the Basic Retirement Sum, which is 50% of the Full Retirement Sum or one-third of the Enhanced Retirement Sum, and pledging your property will NOT give you the maximum CPF LIFE payout, which is the lowest payout compared to the other two sums.

That exact figures depend on which year you turn age 55.

Which year were you born in?

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Choon Wang

Choon Wang

26 Nov 2020

How did you arrive at the figure of $700+?

Kathleen Kelly

Kathleen Kelly

28 Nov 2020

Actually it’s lesser. I key in a wrong figure in the calculator 😅. Thing is this house is owned by me and my husband. I don’t know if both of us can use this house as a pledge or only one of us. 😜

Thank You!
Can you clarify
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