Is my voluntary housing refund used to set aside my Retirement Sum if I am 55 and above?
If you are 55 and above and have made a voluntary housing refund, the refunded amount will be used to meet your cohort's Full Retirement Sum (FRS).
The FRS helps to meet your retirement needs and ensure that you receive monthly payouts during your retirement. Any refunds that exceed your cohort’s FRS in your Retirement Account will remain in your Ordinary account.
This means that your voluntary housing refund can help meet your retirement needs and provide a steady stream of income during your retirement years.
This information is sourced from CPF
Related questions
How is my voluntary housing refund used to set aside my Retirement Sum if I am 55 years old and above?
What happens if I make a voluntary housing refund when I am 55 years old and above?
If I previously withdrew from my Retirement Account by pledging my property, what happens to my pledged property after I make a voluntary housing refund?
Do I have to refund the housing grant to my CPF account when I make a voluntary housing refund of the monies withdrawn for my property?
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