Your sale proceeds will first be used to top up your Retirement Account (RA) to meet your required retirement sum and the balance refund will remain in your Ordinary Account (OA). For the balance in your OA, here are four options you can consider:

 

• Maximise your CPF savings by transferring the OA balance to your RA to receive higher payouts in retirement. Find out more about CPF top-ups.
• Keep the monies in your CPF accounts to earn risk-free interest rate. Find out more about CPF interest rates.
• Use the savings for property payments. Find out more about the use of CPF for housing.
• Withdraw your CPF savings for your immediate retirement needs any time. Find out more about withdrawals.

If you are planning to buy a 3-room or smaller HDB flat, you can use your RA refunds in excess of your Basic Retirement Sum for your property purchase. You can qualify if:

 

1. You purchase the flat within three years after selling this property
2. The new flat costs less than what you sold this property for
3. You have not been issued with a CPF LIFE plan, so there are available savings in your RA

Check the amount available for use on your Home ownership dashboard. Please ensure that the funds are available in your RA when you need them for the purchase.