Personal Finance
Should You Make a Voluntary CPF Housing Refund?
By Seedly  •  July 27, 2021
In 2020, there was a surge in the number of Central Provident Fund (CPF) members who made voluntary housing refunds to their CPF. Source: CPF A total of 14,980 CPF members had actually put in $1.48 billion back into their CPF accounts via the CPF voluntary housing refunds. But to put this statistic into context, only 0.7% of the 2,070,000 active CPF members (at the end of Q1 2021.) have made voluntary housing refunds. So you might be wondering, why is this select group of people making CPF voluntary housing refunds? Should you do so as well? Here’s what you need to know! TL;DR: CPF Voluntary Housing Refund Pros
  • Reduce Amount You Need to Refund to Your CPF When Selling Your House
  • Can Re-Use CPF Funds For Other CPF Approved Schemes
Cons
  • Less Liquidity: You Cannot Withdraw Your CPF Until You Turn 55
  • You Can Use The Voluntary Housing Refund Cash to Invest
...
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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