Your options depend on whether you have set aside the Full Retirement Sum (FRS) in your Retirement Account.

 

A. If you have set aside the FRS in your Retirement Account, you can apply to withdraw your CPFIS by closing your CPF Investment Account with your agent bank and ceasing your participation under the CPFIS. To apply, please submit your application through the Investment dashboard. After submission, your agent bank and/or product providers will proceed with the following actions:

1. Convert the investments in your CPF Investment Account under CPFIS-OA or investments under the CPFIS-SA to cash investments, to be held in your personal accounts with the respective product providers / CDP*. Should you subsequently liquidate your investments, the sale proceeds will be paid to you directly.
2. Close the CPF Investment Account with agent bank and pay out the balance (if any) in the CPF Investment Account in cash to you. 

*Your agent bank would require you to provide your personal Central Depository (Pte) Ltd (CDP) account number to facilitate the transfer of any exchange-traded products. Do note that CDP imposes a transfer fee of $10.00 (excluding GST) for every exchange-traded product counter transferred from your CPF Investment Account to your CDP personal account. 

 

Generally, the agent banks/product providers will take about 1- 2 weeks for processing. Once withdrawn, your CPFIS investments and cash balance in your CPF Investment Account will no longer be protected from any claims by your creditors and/or the Official Assignee.

 

B. If you have not set aside the FRS in your Retirement Account, you would not be able to withdraw your CPFIS investments. However, you can still liquidate the investment holdings under your CPF Investment Account. The sale proceeds will be credited to your CPF Investment Account and thereafter returned to your CPF Ordinary Account. If you had used your Special Account for the investments, once the investments are liquidated, the sale proceeds will be credited to your Retirement Account up to the FRS, with any remaining balance paid to your CPF Ordinary Account.

 

As long as you do not have investment holdings in your CPF Investment Account under CPFIS-OA, you can take the following steps to instruct your agent bank to close your CPF Investment Account:

 

1. Ensure that you have no remaining investments in your CPF Investment Account. If you still hold investments and wish to sell them, please approach the relevant product providers to do so.
2. Contact your agent bank to close your account. Visit any branch of your agent bank and request to close your CPF Investment Account. Any late proceeds would be credited to your CPF Ordinary Account.

You can check your investment holdings in the bank statement issued by your agent bank. To find out which bank is your agent bank, please refer to the Investment Dashboard.