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What is the CPF Withdrawal Lock, and how can I activate it?

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Updated by CPF
The CPF Withdrawal Lock allows members aged 55 and above to instantly disable online CPF withdrawals by setting the Daily Withdrawal Limit to $0, and is part of CPFB’s suite of anti-scam measures.
 
If you do not need to withdraw immediately, you may want to consider activating the CPF Withdrawal Lock to better safeguard your CPF savings. 
 
You can easily activate the CPF Withdrawal Lock at any time online under Account Settings. Follow the three simple steps below.
 
Log in to mycpf with your Singpass, head to Account Settings and select "Turn on CPF Withdrawal Lock" under "Daily Withdrawal Limit'.The Daily Withdrawal Limit will automatically be set to $0.
Review your changes and click on "Lock now".To re-enable online withdrawals, members must increase the Daily Withdrawal Limit, which requires 12 hours to take effect and may require enhanced authentication.
 
Please visit the FAQ below to find out more on how to deactivate the CPF Withdrawal Lock:

This information is sourced from CPF

Topics:
Retirement IncomeRetirement Withdrawals
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