My mum is reaching 55 years old soon. Will she be forced to withdraw her CPF? If not, can she choose to leave it in the CPF account and let it compound over time till old age? - Seedly
Seedly logo
Seedly logo
 

AMA 1M65

Family

Retirement

CPF

Anonymous

Asked on 07 Nov 2018

My mum is reaching 55 years old soon. Will she be forced to withdraw her CPF? If not, can she choose to leave it in the CPF account and let it compound over time till old age?

0 comments

2 answers

Answer Now

Answers (2)

Sort By

When she turns 55, her SA and OA will be set aside to meet the Full Retirement Sum in her newly opened RA Account. SA will be withdrawn from first before OA.

This forms her CPF Life from 65 for life.

Now if she has any balance above the FRS, she can withdraw this at anytime. It's almost like an ATM and you can do so via PayNow.

0 comments

ūüĎć
2
Thank You!
Can you clarify
I wonder if
This is so helpful ūüĎć
What about
Post
Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered on 07 Nov 2018

No no... no one will force her to withdraw from her CPF. If I were her, I would shift all I could (minus a nice holiday) into the RA to reap the high

returns of 4-6%

0 comments

ūüĎć
1
Thank You!
Can you clarify
I wonder if
This is so helpful ūüĎć
What about
Post