Quote:
Originally Posted by alldaylong
Hi all, i have read and googled on cpf withdrawal amounts but was unable to find an updated version (with all the recent changes), as the cpf website/articles are not helpful/clear for me. thus, i will like to ask forumers:
if today, i have $500,000 in my cpf (i am 55), how much can i take out from the account after cpf life etc?
(a) what are the components that will "retain" my money and
(b) how much will be retained
(c) what is the excess amount that i can take out?
(d) any other restrictions on the final amount/taxable etc?
thanks in advance for your input, i am sure this will be helpful to other people too.
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By the time you hit 62, the rules might change again, so my advice is dont rely on your
cpf as retirement fund only, you should have some other cash savings, though for you case, you may not be able to save much if you havent started. Good luck.