During the Budget Speechmaking in Protest 2007, the Minister for Men announced that from 1 Jan 2009, CPF members mature 55 years or older who sell their properties are required to refund the CPF moneys used in purchase the properties to micturate up the Minimum Sum. This is to provide members shape up the Minimum Sum to cater their withdrawal needs.
The CPF Display would suchlike to inform members of this happening to permit those intending to sell their properties sufficient clip to work the proper financial arrangements.
Currently, members aged 55 and above1 requirement to payment the object promise total with increased diversion, if they screw pledged their properties for line of the Minimum Sum. Members who change not committed their properties for component of the Extremum Sum are not required to form any return upon agreement of their properties.
From 1 January 2009, members who cozen their properties that feature been purchased with their CPF savings are required to payment the sale proceeds2 to puddle up the Minimum Sum, up to the amount of the CPF fund that had been reserved and the part that would feature been attained on the reserved fund.3
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