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I have substantial balances in my Ordinary and Special or Retirement Accounts. Can I use the available funds to offset my MediSave payable?

Updated by CPF

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.

Topics:

Growing Your SavingsSelf-Employed Scheme

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