A. If you have set aside the Full Retirement (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 Once withdrawn, your CPFIS investments and cash balance in your CPF Investment Account will no longer be protected from any claims by your creditors and/or the Official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 liquated, 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, you can instruct your agent bank to close your Investment Account. See this FAQ for more details.