Cpf can no longer be used to pay for hdb flat after you turn 55?

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An honorable member of the Coffee Shop Has Just Posted the Following:

And so I received a call from HDB informing me that there are insufficient funds in my CPF to pay for my monthly mortgage. That came as a surprise as the last time I checked, there was still some money in my account.

At the CPF counter, a CSA patiently explained to me that my money has been moved into a retirement account leaving practically zilch in my ordinary account and although I am still making monthly contributions to CPF, that money cannot be used to service my mortgage as I do not have the required minimum sum.

I am left with 2 options. One is to make monthly cash payment, the other is to use the meagre $5K payout to fund my remaining mortgage.

Thanks Zuraidah. You had been very patient and kind in your explanation of all the rules and regulations although I understood only half of what you said. As you have mentioned, your hands are tied.

- http://www.therealsingapore.com/cont...er-you-turn-55


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