Do I need to pay taxes for the amount I withdraw from my CPF accounts?

Updated by CPF 1y ago

No, CPF savings withdrawn are not taxable.

However, please note that if you have any unpaid taxes or MediShield Life/CareShield Life premiums, we may recover the unpaid amount from the CPF savings you are withdrawing.

This is done to ensure that everyone fulfils their tax obligations and has sufficient coverage under MediShield Life/CareShield Life.

This information is sourced from CPF.

Topics:

Retirement Income Retirement Withdrawals

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What happens to my CPF savings if I have unpaid taxes, MediShield Life premiums, CareShield Life premiums or outstanding education loan owed to a CPF member when my account is closed after my renunciation of Singapore citizenship/ permanent residency?

Updated 8mo ago

Can I withdraw my CPF savings if I have unpaid taxes or MediShield Life/CareShield Life premiums?

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