THE CPF MIN­I­MUM SUM

Simply Her (Singapore) - - Parents 101 -

Once your mum or dad turns 55, the money from their CPF Or­di­nary and Spe­cial Ac­counts will be merged into a Re­tire­ment Ac­count. For those turn­ing 55 be­tween now and June 30, 2014, this ac­count needs to have a min­i­mum sum of $148,000. The ex­cess amount can then be with­drawn

freely. Only 45 per cent of ac­tive CPF mem­bers turn­ing 55 in 2011 met the CPF Min­i­mum Sum re­quire­ment, which

was then $131,000.

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