What happens if I used my Retirement Account (RA) savings to purchase annuity(ies) under the Retirement Sum Scheme (RSS) or used my annuity(ies) to apply for exemption from setting aside a retirement sum?
Once your CPF account is closed and your CPF savings are transferred to your bank account, the surrender value of your annuity, if any, will be paid directly to you by your insurer, in the event of termination of the annuity(ies), or to your beneficiary upon your demise.
This information is sourced from CPF
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