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What happens to my CPF savings if I have an outstanding CPF education loan when my account is closed after my renunciation of Singapore Citizenship/ Permanent Residency?
If you have used another CPF member’s CPF savings for your education and have an outstanding CPF education loan owed to him, your CPF savings may be used to pay the education loan before the remaining CPF savings are transferred to your bank account. In the event that your CPF savings are not sufficient to cover your full education loan, your repayment liability remains even after your CPF account is closed.
If you have used your CPF savings for your education or your child/spouse/siblings/relative’s education, the repayment of all such outstanding CPF Education Loans to you will be waived.
This information is sourced from CPF.
Related questions
What happens to my CPF savings if I have unpaid taxes, MediShield Life premiums, CareShield Life premiums or outstanding education loan owed to a CPF member when my account is closed after my renunciation of Singapore citizenship/ permanent residency?
Can I use my CPF savings to repay the monies withdrawn under the CPF Education Loan Scheme?
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Why CPF savings cannot be used to repay an outstanding education loan?
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If I choose not to waive the repayment, what will happen to the repayments made to my CPF Ordinary Account under the CPF Education Loan Scheme?
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