The maturity proceeds from your insurance policies under the CPF Investment Scheme-Ordinary Account (CPFIS-OA) and the CPF Investment Scheme-Special Account (CPFIS-SA) are handled differently.

 

For CPFIS-OA policies, the proceeds would be refunded to your CPF Investment Account (IA) with your agent bank.  If you did not re-invest the monies in your CPF IA, the funds will be automatically returned to your CPF Ordinary Account (OA) at the end of the second month.  When this happens, you would lose up to two months of CPF interests. Hence, if you are not planning to re-invest your sales proceeds in your CPF IA, we would encourage you to apply to your agent banks to transfer the funds in your IA to your CPF OA. You can find the relevant info on how to initiate the refund from your IA to your OA. You can also opt to apply for withdrawal of the monies (once the proceeds are credited) subject to the prevailing CPF withdrawal rules. 

 

For CPFIS-SA policies, the proceeds would be refunded to your CPF Retirement Account to set aside the Full Retirement Sum, with remaining balance credited to your OA. You can apply for withdrawal of the monies (once the proceeds are credited) subject to the prevailing CPF withdrawal rules. Find out more on withdrawal of CPF savings. 

 

• If you need to withdraw more than the default online Daily Withdrawal Limit of $2,000, find out more.
• If you need to withdraw more than the maximum online Daily Withdrawal Limit, find out more.

For policies that have already been transferred to your name when you applied for withdrawal of your CPFIS investments, it would be considered as cash policies and the insurance companies would pay the proceeds directly to you.