No, you shouldnt do that. You will not be getting any tax relief by doing so. For retirement, u can top up your special account directly (Retirement sum topping up scheme). This way, u will receive tax relief for the topped up amount. Eg, your taxable income is $40k, for every dollar u earn above 40k is taxed at 7%. Therefore, if u topped up $1000 into your special account, u get $1000 tax relief, u saved 7% of $1000 = $70 tax money. Effectively have gotten 7% return on your money, in additional u will earn 4%-5% interest yearly guaranteed. If u want to pay for house loan, u can just use the cash to paydown the loan directly. HDB loan interest is 2.6%, but u will be able to earn at least 4% in SA. So the money could be better to topup your special account this way. Take note Tax relief caps at $7k per year though. If you are taking HDB loan, there is another one area for 'savings' which is the HPS. Add me on facebook if u are interested to learn about it.