fastest way to receive your funds!

Singapore SINGAPOREANS Central Provident Fund.

7 STEPS TO WITHDRAW YOUR CPF FUNDS AT 55 USING PAYNOW

Withdraw CPF After 55 Using PayNow

Congratulations on reaching this important milestone at 55 years old! Now that you have greater control over your CPF, you may be wondering how to go about withdrawing your funds.

My dad allowed me to use his CPF account to perform a withdrawal, and here’s a step-by-step guide on how to do so:

1 How to withdraw CPF using PayNow

2 How long does a CPF withdrawal take?

3 Conclusion

How to withdraw CPF using PayNow

Here are 7 steps you’ll need to withdraw your CPF using PayNow after reaching 55 years old:

Go to ‘Retirement income’ and select ‘Withdrawing for immediate retirement needs’

Scroll down to ‘Withdraw CPF savings’

Enter the amount that you wish to withdraw from your CPF SA and OA funds

Enter the amount that you wish to withdraw from your CPF RA funds

Select the mode of payment of your withdrawal

Decide if you want to transfer your CPF savings to your loved ones

Confirm your transaction details

And here is each step explained in-depth:

Go to ‘Retirement income’ and select ‘Withdrawing for immediate retirement needs’

When you have logged into the CPF Portal, you can click on the ‘Retirement income‘ tab at the top. After that, you can click on ‘Withdrawing for immediate retirement needs‘.

CPF Retirement Income Tab

This will bring you to the Retirement Income dashboard, which allows you to withdraw your CPF savings.

CPF Withdraw Immediate Retirement Needs Dashboard

Scroll down to ‘Withdraw CPF savings’

This dashboard is rather hard to navigate, and you’ll need to scroll all the way down to the ‘Application‘ section.

You will need to click on the ‘Want to withdraw your CPF savings?’ section and login with your SingPass account.

CPF Withdraw CPF Savings For Immediate Need

This will bring you to a form that you’ll need to fill up to withdraw your CPF savings.

CPF View CPF Life Expected Payout

Enter the amount that you wish to withdraw from your CPF SA and OA funds

After starting this form, the first step will be to enter the amount that you want to withdraw from both your CPF OA and SA accounts.

CPF Withdraw From Special And Ordinary Account

You may want to note that the funds are withdrawn from your CPF Special Account first, followed by your Ordinary Account.

This means that you will be forgoing the higher interest rate that the CPF SA offers you when you withdraw your money from your CPF.

As such, it would be best to think carefully if you really need the money!

If you do not need this money right away, it may be better to leave it in your CPF SA to continue earning this higher interest rate.

Enter the amount that you wish to withdraw from your CPF RA funds

You are also able to withdraw funds from your CPF RA. You will be able to see the amount that you can withdraw from this account.

CPF Withdraw from Retirement Account

It is possible for you to just withdraw from your CPF OA and SA, without touching your RA funds.

Select the mode of payment of your withdrawal

The next step will be to select how you wish to receive your CPF withdrawal. There are 3 methods available:

●PayNow

●Interbank GIRO

●Telegraphic Transfer

CPF Withdrawal Select Mode Of Payment

If you have a PayNow account that is linked to one of your bank accounts, this will be the fastest way to receive your funds!

Decide if you want to transfer your CPF savings to your loved ones

Before confirming your withdrawal, CPF will ask if you wish to transfer your CPF savings to your loved ones instead.

CPF Withdrawal Transfer Funds To Loved One

The people who fit the criteria of your ‘loved one’ includes:

●Spouse

●Parents and Grandparents

●Parents-in-law and Grandparents-in-law

●Siblings

The advantage would be that you will be able to help your loved ones to grow their CPF Life premiums. This will be helpful if your loved one does not have enough funds to hit a certain retirement sum in their CPF.

Confirm your transaction details

If you decide not to transfer the funds to your loved ones, you will be brought to the last page to confirm your transaction details.

CPF Withdrawal Confirm Details

After submitting your request, you will receive an acknowledgement from CPF.

CPF Withdrawal Transaction Confirmed

CPF mentioned that it may take up to 5 working days before your funds will be transferred to you.

How long does a CPF withdrawal take?

A CPF withdrawal may take up to 5 working days before you can receive the funds in your bank account. However, if you choose to withdraw via PayNow, it is possible to receive your funds on the same day.

My dad performed the withdrawal on a public holiday, and he received the funds in his bank account almost immediately!

CPF Successful Withdrawal

If you are in a hurry to receive your funds from CPF, the best way will be to withdraw them via PayNow.

Conclusion

Once you have reached 55 years old, you are given the freedom to decide when you want to withdraw your CPF funds after setting aside your Retirement Sum.

However, it may be better to leave your funds in your CPF account if you do not need them immediately. This is because it will continue to earn a high interest rate, especially for your Special Account!

新加坡 新加坡中央公积金。

55 岁使用 PAYNOW 提取公积金的 7 个步骤

55 岁后使用 PayNow 提取公积金

恭喜您在 55 岁时达到这一重要里程碑！现在您可以更好地控制公积金，您可能想知道如何提取资金。

我爸爸允许我使用他的公积金账户进行提款，以下是有关如何操作的分步指南：

1 如何使用 PayNow 提取公积金

2 提取公积金需要多长时间？

 3 结论

如何使用 PayNow 提取 CPF

以下是您在年满 55 岁后使用 PayNow 提取 CPF 所需的 7 个步骤：

转到“退休收入”并选择“提取以满足即时退休需求”

向下滚动到“提取 CPF 储蓄”

输入您希望从 CPF SA 和 OA 资金中提取的金额

输入您希望从 CPF RA 资金中提取的金额

选择提款的支付方式

决定是否要将您的 CPF 储蓄转移给您的亲人

确认您的交易详情

以下是每个步骤的详细解释：

转到“退休收入”并选择“提取以满足即时退休需求”

登录 CPF 门户后，您可以单击顶部的“退休收入”选项卡。之后，您可以单击“提取以满足即时退休需求”。

 CPF 退休收入标签

这将带您进入退休收入仪表板，您可以提取 CPF 储蓄。

CPF 提取即时退休需求仪表板

向下滚动到“提取 CPF 储蓄”

这个仪表板相当难导航，您需要一直向下滚动到“应用程序”部分。

您需要点击“想要提取您的 CPF 储蓄？”部分，然后使用您的 SingPass 帐户登录。

CPF 提取 CPF 储蓄以满足即时需求

这将带您进入一个表格，您需要填写该表格才能提取您的 CPF 储蓄。

CPF 查看 CPF 预期寿命支出

输入您希望从 CPF SA 和 OA 资金中提取的金额

启动此表格后，第一步是输入您想要从 CPF OA 和 SA 账户中提取的金额。

 从特别和普通账户中提取 CPF

您可能要注意到，资金首先从您的 CPF 特别账户中提取，然后从您的普通账户中提取。

这意味着当您从 CPF 中提取资金时，您将放弃 CPF SA 为您提供的更高利率。

因此，如果您真的需要这笔钱，最好仔细考虑一下！

如果您不需要立即使用这笔钱，最好将其留在您的 CPF SA 中以继续赚取更高的利率。

输入您希望从您的 CPF RA 资金中提取的金额

您还可以从您的 CPF RA 中提取资金。您将能够看到您可以从此帐户中提取的金额。

从退休账户中提取 CPF

您可以只从您的 CPF OA 和 SA 中提取，而无需动用您的 RA 资金。

选择提款的支付方式

下一步是选择您希望如何接收您的 CPF 提款。 有 3 种方法可用：

●PayNow

●银行间 GIRO

●电汇

CPF 提款 选择付款方式

如果您有一个与您的银行账户关联的 PayNow 账户，这将是接收资金的最快方式！

决定是否要将您的 CPF 储蓄转给您的亲人

在确认提款之前，CPF 会询问您是否希望将您的 CPF 储蓄转给您的亲人。

CPF 提款 将资金转给亲人

符合您“亲人”标准的人包括：

●配偶

●父母和祖父母

●岳父母和祖父母

●兄弟姐妹

这样做的好处是，您将能够帮助您的亲人增加他们的 CPF Life 保费。如果您的亲人没有足够的资金来达到他们 CPF 中的一定退休金额，这将很有帮助。

 确认您的交易详情

如果您决定不将资金转给您的亲人，您将被带到最后一页以确认您的交易详情。

CPF 提款确认详情

提交您的请求后，您将收到 CPF 的确认。

CPF 提款交易已确认

CPF 提到，您的资金可能需要最多 5 个工作日才能转给您。

CPF 提款需要多长时间？

CPF 提款可能需要最多 5 个工作日才能在您的银行账户中收到资金。但是，如果您选择通过 PayNow 提款，则可以在同一天收到您的资金。

我爸爸在公共假期提款，他几乎立即在他的银行账户中收到了资金！

CPF 成功提款 PayNow

如果您急于从 CPF 收到您的资金，最好的方法是通过 PayNow 提款。

结论

一旦您年满 55 岁，您就可以自由决定在存入退休金后何时提取公积金。

但是，如果您不需要立即提取公积金，最好将其留在公积金账户中。这是因为它将继续赚取高利率，尤其是您的特别账户！