How will the annuitisation of the non-withdrawable Ordinary Account (OA) savings as CPF LIFE monthly payout affect my eligibility to withdraw or service the housing commitments that are financed by my OA savings?
Your eligibility to make lump sum withdrawals from your Ordinary Account (OA) will not be affected. This is because only the OA savings that cannot be withdrawn in a lump sum will be annuitised to provide you with higher CPF LIFE monthly payouts.
The purpose of your CPF savings is to provide you with a stream of retirement income. If you still have housing obligations after starting your monthly payouts, you can use your monthly payouts or monies in excess of your Full Retirement Sum after this transfer to meet your housing needs.
This information is sourced from CPF
Related questions
Why is there a need to annuitise the non-withdrawable Ordinary Account savings as CPF LIFE monthly payout?
Can I request to retain the non-withdrawable Ordinary Account savings in the CPF accounts and not annuitise and stream them out as CPF LIFE monthly payouts?
How much can I reserve in my Ordinary Account for my housing payments?
If I reserve an amount in my Ordinary Account to pay for my house, will it affect the amount that I can withdraw?
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