Quote:
Originally Posted by thor1981
great thread bro. i am not far away, i'd like to hear form other bros. also how to most easily withdraw max amount
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u mean u wan to withdraw as much as possible?
current cpf rule is at 55 u need to set aside the FRS amount. then wadever remaining amount u can withdraw in full or in partial.
for example for 2022, the FRS is 192k. after set aside 192k, let say ur remaining amt left in ur cpf after the 192k, is 50k, then u can choose to withdraw the full amount of 50k at 55 or u can choose to withdraw partial, for example 20k at 55, then the remaining 30k u can withdraw at any time in full or in partial after 55.
If u have an HDB flat which the remaining lease enable u to live in the house till u r 95 years old, then u can use this house as a pledge and withdraw 1/2 of ur FRS which is 96k. the 96k in this case is called the BRS (basic retirement sum). i.e. FRS = 2 x BRS or BRS = 1/2 x FRS. in this case, the max amount can withdraw is 50k + 96k = 144k.
but for the 96k, think u need to apply for it, is not automatically u can withdraw the 96k by default, but the 50k u no need to apply, can withdraw at 55.