Personal Finance
You cannot withdraw interest earned, government grant and top ups from your CPF at 55??!!??
By Value Warrior  •  March 15, 2020
Recently, I was having a discussion with my colleague on CPF withdrawal at 55 when he mentioned that we cannot withdraw any top up monies or interest earned! All the while I am only aware of the below 3 withdrawal scenario for CPF withdrawal at 55. We can withdraw 1) All of our Special Account and Ordinary Account savings if we have $5000 or less. 2) $5000 if we have less than FRS 3) $5000 or any amount above FRS if we have more than FRS I was not aware that any top up monies and interest earned being excluded from the above! I have been faithfully topping up my SA and earning the 4% interest to build up my retirement nest egg for a meaningful withdrawal at 55!! I did some research and found below information from CPF website here. I have also sent and email to CPF to clarify the above statement. You can see the...
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By Value Warrior
A regular working Joe starting out his value investing journey. I started my investment journey late at the age of 34. Looking back i wish i had started earlier so that power of compounding can work its magic. Nevertheless a good time to start investing is always NOW!!! So here i am having started this journey, i planned to reach Financial independence at age 65. Wish me luck.
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