I have substantial balances in my Ordinary and Special or Retirement Accounts. Can I use the available funds to offset my MediSave payable?
The Ordinary, Special, or Retirement Accounts, serve different purposes from the MediSave Account. While the Ordinary and Special or Retirement Account savings are meant for retirement or housing needs, your MediSave Account savings are for your healthcare needs. Thus, the balances in your Ordinary and Special or Retirement Accounts cannot be used to settle your MediSave payable, so as not to affect your retirement adequacy.
This information is sourced from CPF
Related questions
Are my MediSave Account savings covered under CPF Nomination?
In setting aside the Full Retirement Sum in my Retirement Account, why are my Special Account savings transferred before my Ordinary Account savings?
If there are insufficient funds in my MediSave account, can I use my Ordinary Account/Special Account monies to pay for my MediShield Life premiums?
If there are insufficient funds in my MediSave, can I use my Ordinary/Special Account monies to pay for my CareShield Life premiums?
Need more help?
Get in touch