think you can only transfer to top up retirement account, provided you have the minimum sum set aside

can't use retirement a/c to buy hdb flat

i have check leh..they not need to meet the MSS, anyway they got no house how to meet MSS ?

Edited March 12, 200818 yr by tweetie76

no not they meet, is you meet

that means if MSS is $90,000, you need to have at least $90,000 in your OA before you can transfer to their retirement account

edit - oops sorry. just checked the cpf website

you need to have a total of 1.5 times the prevailing min sum in OA + SA before you can use your OA to top up their min sum

Edited March 12, 200818 yr by applefreak

no not they meet, is you meet

that means if MSS is $90,000, you need to have at least $90,000 in your OA before you can transfer to their retirement account

edit - oops sorry. just checked the cpf website

you need to have a total of 1.5 times the prevailing min sum in OA + SA before you can use your OA to top up their min sum

oh, so can i use my CPF to purchase new flat when i sell my existing flat ?

I definately cannot meet MSS now.. !! looks like there is definately no way out...

oh, so can i use my CPF to purchase new flat when i sell my existing flat ?

I definately cannot meet MSS now.. looks like there is definately no way out...

this is the reply i got from CPF -

Members who have attained 55 years of age may use their CPF Ordinary

Account savings and the permissible amount from their Retirement

Account (if any) for the purchase of a HDB flat.

For a new HDB flat bought directly from HDB, members may use up to 100%

of their CPF Ordinary savings to pay the purchase price of the flat and

to service the HDB housing loan till full redemption.

For a resale HDB flat, the total CPF withdrawal is subject to the

Valuation Limit, i.e. the purchase price or the market valuation of the

flat at the time of purchase, whichever is lower. Members who are

above the age of 55 may withdraw above the Valuation Limit to service

the HDB housing loan, if they have met the Minimum Sum cash component

shortfall.

Under the CPF Minimum Sum Topping Up Scheme, Singaporeans and Permanent

Residents are allowed to top up to their parents’, grandparents',

siblings', spouse and self Retirement Accounts only, starting from the

recipients' 55th birthday. The top up monies cannot be used for housing

purposes.

the only way is to save like mad and get them a studio apt with cash

a studio apt cost ard $80,000 so until and unless you manage to cough up $80,000 :dunno:

well, i guess i hv to wait till i strike toto, or maybe next life

the only way is to save like mad and get them a studio apt with cash

a studio apt cost ard $80,000 so until and unless you manage to cough up $80,000 :dunno:

hi

went HDB liao, need to pay 5k lawyer fees + topup mil CPF.,,hopeless liao..my hse is going to mature this sept, i dont think i can move

hi

went HDB liao, need to pay 5k lawyer fees + topup mil CPF.,,hopeless liao..my hse is going to mature this sept, i dont think i can move

just to ask if i buy resale, do i need to stay for 5 yr before i can sell ?

Edited June 18, 200818 yr by tweetie76

just to ask if i buy resale, do i need to stay for 5 yr before i can sell ?

if u took grant for the resale flat then u have to stay for 5 years then can sell.

just to ask if i buy resale, do i need to stay for 5 yr before i can sell ?

5yrs... if take hdb grant

2.5yrs... if no grant, take hdb loan

1yr... if no grant, take bank loan... or fully redeemed hdb loan

5yrs... if take hdb grant

2.5yrs... if no grant, take hdb loan

1yr... if no grant, take bank loan... or fully redeemed hdb loan

i am so vex with this hse thing, even cannot buy studio apartment if mil name is not removed

Edited June 18, 200818 yr by tweetie76

i am so vex with this hse thing, even cannot buy studio apartment if mil name is not removed

Just some update..MIL went HDB to remove her name in the 3rm flat..need to pay $5K CASH for legal fees, and nobody is willing to fork out..sigh

Edited May 12, 200818 yr by tweetie76

wah remove name got to pay $5k :jawdrop:

wah remove name got to pay $5k :jawdrop:

yalor..so call lawyer fees, but if she find someone take over, then can deduct from CPF but if she is removing her name , then must pay CASH. Even CPF /HDB officer also say, why don't stay with yr mum (grandma), so dangerous to let her stay alone..blah..

but in fact , is mum (grandma) who kick her daughter out. btw, one of the cousin is willing to take over, but grandma refused..scared the cousin's wife will take away her flat

Edited May 14, 200818 yr by tweetie76

your grandma kick her own daughter out, now worried about being kicked out by others...

sigh...

your grandma kick her own daughter out, now worried about being kicked out by others...

sigh...

yahor, i nvr tot of that aspect ..so will that happen to me in future ? cos i also want to move out from PIL

too... but i am not kicking them out, i m helping them to find a flat...