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Do I have to refund the housing grant to my CPF account when I make a voluntary housing refund of the monies withdrawn for my property?
Yes. The CPF Housing Grant you have used for your property forms part of the principal CPF amount withdrawn towards the property. You can voluntarily refund up to the principal CPF amount withdrawn towards the property (including the CPF Housing Grant) plus its accrued interest to your CPF account.
How the refund is allocated
Generally, the housing grant will be refunded to your Ordinary Account. However, if you have received more than $30,000 in housing grants, part of the housing grants may be credited to your Special Account (SA)/Retirement Account (RA) and MediSave Account (MA). You can check the “What happens if” section on your Home ownership dashboard to see the amount that will be credited to your SA/RA and MA.
Using the refunded savings
These savings that are credited to your SA/RA and MA can then be used for approved purposes under the various CPF approved schemes to help you with your retirement and healthcare needs.
This information is sourced from CPF.
Related questions
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