Hi, may I ask a question: if upon 65 years old, my RA has more than Enhanced Retirement Sum (ERS), namely more than 4 times of the Basic Retirement Sum (due to accumulation of interests since 55 years old), what happens to the balance money in my RA after opt to the ERS? namely after setting aside money of 4 times of basic retirement sum for the CPF LIFE with ERS, what can i do for the rest of money in the RA?
Hi @RobertS-h7r, In general, all of your Retirement Account savings would be used for your CPF LIFE payouts from age 65. The amount deducted from your RA to form your CPF LIFE premium depends on the plan chosen. Retirement top-up monies are also reserved for your retirement payouts needs and cannot be withdrawn for immediate needs. Please refer to the FAQs below for more information: cpf.gov.sg/service/article/what-are-the-cpf-life-plans-available-and-which-is-the-right-plan-for-me cpf.gov.sg/service/article/how-much-cpf-savings-can-i-withdraw cpf.gov.sg/service/article/can-i-withdraw-the-top-up-monies-if-i-have-the-full-retirement-sum-or-the-basic-retirement-sum-if-i-own-a-property Thank you.
谢谢分享。辛苦了。愿上帝赐福。加油。
谢谢你的讲解❤
Hi, may I ask a question: if upon 65 years old, my RA has more than Enhanced Retirement Sum (ERS), namely more than 4 times of the Basic Retirement Sum (due to accumulation of interests since 55 years old), what happens to the balance money in my RA after opt to the ERS? namely after setting aside money of 4 times of basic retirement sum for the CPF LIFE with ERS, what can i do for the rest of money in the RA?
Hi @RobertS-h7r,
In general, all of your Retirement Account savings would be used for your CPF LIFE payouts from age 65. The amount deducted from your RA to form your CPF LIFE premium depends on the plan chosen. Retirement top-up monies are also reserved for your retirement payouts needs and cannot be withdrawn for immediate needs.
Please refer to the FAQs below for more information:
cpf.gov.sg/service/article/what-are-the-cpf-life-plans-available-and-which-is-the-right-plan-for-me
cpf.gov.sg/service/article/how-much-cpf-savings-can-i-withdraw
cpf.gov.sg/service/article/can-i-withdraw-the-top-up-monies-if-i-have-the-full-retirement-sum-or-the-basic-retirement-sum-if-i-own-a-property
Thank you.