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How much CPF savings can I withdraw from age 65?


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Updated by CPF
You can check the CPF savings you can withdraw by logging into your Retirement dashboard.
 
The amount that you can withdraw is determined as follows: 
 
Born in Amount withdrawable from Ordinary Account (OA)Amount withdrawable from Retirement Account (RA)
If you have set aside your Full Retirement Sum (FRS).If you have not set aside your FRS
1958 onwardsAny amount from your OAUp to $5,000, including any amount withdrawn before turning 65120% of your RA balance as at age 652 excluding, generally, any cash top-ups, CPF transfers and government grants3, less $5,000
1957Any amount from your OA10% of your OA savings110% from your RA balance as at age 652 excluding, generally, any cash top-ups, CPF transfers and government grants3.
1956Any amount from your OA20% of your OA savings1Nil
1955Any amount from your OA30% of your OA savings1Nil
1954Any amount from your OA40% of your OA savings1Nil
1953 or earlierAny amount from your OA50% of your OA savings1Nil
 
For example: John is born in 1960 and has set aside his FRS. He has $10,000 in his OA and $220,000 in his RA (of which $20,000 is made up of cash top-ups, CPF transfers and government grants) at age 65. John can withdraw $45,000, comprising $10,000 from OA and $35,000 from RA (calculated as [(($220,000 - $20,000) x 20%) - $5,000].
 
 1Upon your withdrawal, non-withdrawable amounts in your OA may be transferred to your RA to make up your FRS. This transfer occurs with each withdrawal until you have set aside your FRS.
2If you are an existing CPF LIFE member who had joined the scheme before you turned 65, the balances used to compute your additional withdrawable savings from 65 will include your CPF LIFE premium balance.
3Cash top-ups, CPF transfers and government grants are meant to be set aside for retirement and will be streamed out to you as monthly payouts.

This information is sourced from CPF


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