Comments on: CPF Minimum Sum to Go Up

By: lioninvestor

lioninvestor — Sun, 27 Jul 2008 17:36:20 +0000

Hi Elly,

Sorry for the late reply. Here’s my response to your question:

http://www.martinlee.sg/property-sale-and-cpf-minimum-sum/

By: Elly

Elly — Fri, 27 Jun 2008 08:17:45 +0000

Responses to “CPF Minimum Sum to Go Up”

Hi Martin,
Thank you so much for your response.

Let me make give you these figures to work on:
Assuming:
1) I reach 55 yrs in 5 yrs time.
2) I used $250,000 CPF money to pay for my house, besides the cash portion. The house has been fully paid up.
3) I can sell the house at 1 million dollars.
4) I have $50,000 in OA, $40,000 in Special, $34,000 in medisave.

Thanks again!

By: lioninvestor

lioninvestor — Wed, 18 Jun 2008 16:21:53 +0000

Hi Elly,

Thanks for your compliments.

For your querry, I need a bit more information to work with.

When is the year that you will hit 55?
What is the amount deducted from your CPF to pay for your house?

By: elly

elly — Wed, 18 Jun 2008 07:28:49 +0000

Hi,
I like your blog. There is always a write up of the latest events happening in Singapore. As a Singaporean, it is very useful to be updated on all current issues. It provides a one-stop info centre.

Just wanted to check with you: about the current min. CPF sum requirement :
1) assuming I have less than the required min. cpf amt. at age 55
2) I sell my house at age 56 yrs.
3) Will the cpf auto deduct the min. cpf amt. from the sale proceeds?

Appreciate your help on this so that I can plan when to sell my house.

Many thanks!