@jasminemichelle.homes: 𝗥𝗘𝗩𝗜𝗦𝗘𝗗 𝗛𝗢𝗨𝗦𝗜𝗡𝗚 𝗥𝗘𝗙𝗨𝗡𝗗 𝗣𝗥𝗢𝗖𝗘𝗦𝗦 𝗙𝗢𝗥 𝗖𝗣𝗙 𝗠𝗘𝗠𝗕𝗘𝗥𝗦 𝗔𝗚𝗘𝗗 𝟱𝟱 𝗔𝗡𝗗 𝗔𝗕𝗢𝗩𝗘, 𝗔𝗡𝗗 𝗥𝗘𝗗𝗨𝗖𝗘𝗗 𝗟𝗜𝗙𝗘 𝗘𝗫𝗣𝗘𝗖𝗧𝗔𝗡𝗖𝗬 𝗠𝗘𝗠𝗕𝗘𝗥𝗦 𝗙𝗥𝗢𝗠 𝟭 𝗝𝗨𝗟 𝟮𝟰 1. BEFORE 1 JULY 2024: When CPF members sell their properties, they are required to refund their CPF principal amount used for housing and the interest accrued, as well as any amount they had pledged to make up their retirement sum. 2. For 55-members and RLE members, the housing refunds are automatically transferred to the Retirement Account (RA) up to the Retirement Sum that they have to set aside. Members who need to set aside their Full Retirement Sum (FRS) will have any balance amount paid out in cash. A request must be submitted to CPFB in order to stop the pay-out. 3. FROM 1 JULY 2024: The housing refund process will be revised and will impact particularly the 55-members and RLE members. The balance housing refunds after making up their applicable Retirement Sum will remain in their CPF accounts as the default and CPF members have the following options of managing their savings in their Ordinary Accounts (OA): 3a) Use the balance housing refunds in their OA for their next property purchase or to pay another housing loan. 3b) Transfer their OA balance to their RA to enjoy higher payouts in retirement. 3c) Withdraw it in cash for their immediate needs after setting aside their required retirement sum (FRS for 55-members and Reduced Retirement Sum for RLE members). —— Hello! 👋🏻 We are Michelle Tiah & Jasmine Teo. 🙆🏻‍♀️🙇🏻‍♀️ We help homeowners identify properties & restructure their portfolio for asset accumulation & preservation. 🏠 📩If you have any questions, drop us a DM! #foryourpage #realestatesingapore #landedpropertysingapore #cpf #retirementaccount #retirementsum

Jasmine & Michelle Homes

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Sunday 30 June 2024 11:09:56 GMT