When you sell your property, the refunded sale proceeds are credited to different CPF accounts depending on whether you have reached age 55:

 

Sale proceeds are credited to your Ordinary Account (OA).

 

Your sale proceeds are first used to top up your Retirement Account (RA) to meet your required retirement sum. Any remaining balance stays in your OA.

 

• Maximise retirement savings: Transfer your OA balance to your Special Account (if below age 55) or RA (if age 55 and above) for higher retirement payouts. Find out more about CPF top-ups.
• Purchase property: Use the savings for property payments. If any housing grants are refunded to your OA, they may be used for future property purchase (such as HDB flat and private properties), subject to CPF housing usage rules and limits. Find out more about the use of CPF for housing.
• Earn guaranteed returns: Keep the monies in your CPF accounts to earn risk-free interest. Find out more about CPF interest rates.
• Withdraw for immediate needs if you are above age 55: 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, provided you meet these conditions.

 

• Purchase the flat within three years of selling this property
• The new flat costs less than your previous property’s selling price
• You have not been issued with a CPF LIFE plan, so there are available savings in your RA

Check your Home ownership dashboard for available amounts and ensure the funds are accessible when needed for your purchase.