CPF

CPF 

1. Rules on CPF Usage (Updated 10 May 2019) 

2. Seller at/ above 55 years old. What will be the different if I sold my house at 55 years old or older? 
3. Use of CPF for 2nd / subsequent properties - For Private Residential

ules on CPF (updated 10 May 2019)

 

Use of CPF for property purchase (Private & HDB)

Youngest Buyer Age + Remaining Lease of Property
=
MORE than 95 years

Use of CPF: 100% of Valuation Limit *

Youngest Buyer Age + Remaining Lease of Property
=
LESS than 95 years

Use of CPF: Pro-rated of Valuation Limit *

Use CPF Calculator to determine your eligibility and the maximum amount of CPF you can use

* CPF savings will not be granted to fund the purchase of property if the remaining lease at the point of purchase^ is 20 years or less.

^ For HDB flat, refers to the flat application date. For EC or private properties, refers to the Option to Purchase or Sale & Purchase Agreement exercised date. 

eller at / above 55 years old

 

For seller who sold a property at age 55/ above, the only different is the CPF. There are 2 types of cash you will get from: -
Cash Proceed from sale of property & Refunded Cash from CPF.

Cash Proceed from Sale of Property (if any)

Selling price minus outstanding loanminus total used CPF + interest that used for the sold property. 
The total will be the cash you will get after selling your property.

Cash Proceed from Sale of Property (if any)

=

Property Sold Price

-

Outstanding Loan

-

Used CPF + interest

Refunded cash from CPF (if any)

Used CPF + interest that used for the property minus retirement shortfall, minus property pledge will be the cash that CPF will refund to you. 

Refunded Cash from CPF (if any)

=

Used CPF + interest

-

Retirement Shortfall

-

Property Pledge

Total CASH you will get from selling a property  = Cash Proceed + Cash refunded by CPF

To purchase next house after selling, your CPF can be use for next purchase will be your current ordinary account (OA) + property pledge

Budget for next house = Cash + CPF + Loan

 

se of CPF for 2nd / subsequent properties 

Scenario 1:
When your Special Account (SA) is less than half of minimum sum*:
CPF can be use = OA - [ (Minimum sum / 2) - SA ]

Scenario 2:
When your Special Account (SA) is more than half of minimum sum*: 
You can use all the money is your Ordinary Account (OA) for your 2nd / subsequent properties.

 

* For buyer below 55 years old, minimum sum for Year 2018 is $171,000.
* For buyer 55 years old or above, minimum sum refer to the year when the buyer reach 55 years old. 

 

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Contact no. +65 8157 4088

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