I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

Click to email CW8888 or Email ID : jacobng1@gmail.com

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Monday, 19 December 2016

Turning 55 - and enjoying financial freedom (2)

Read? Turning 55 - and enjoying financial freedom

Trust but verify - SMOL

Writers may write about their own personal experience and that personal experience is right or applicable to them on that particular circumstance so we trust but verify so Uncle8888 has visited CPF Bishan branch office to verify directly from the Horse's mouth.

CPF : What can I do for you?

CW: I want to check my housing loan refund.

CPF: Your IC please.

CPF: You don't have any outstanding house loan so you don't need to refund.

CW: But, Sundaytimes got one article said that we can refund our housing loan after 55.

CPF: You have no more housing loan. How to refund?

CW: But; the article said can leh.

CPF: You can refund the housing loan if the System shows outstanding housing loan. But, once the System has cancelled your housing loan. You cannot refund anymore.


CW: One more question on CPF OA withdrawal. Can I withdraw from CPF OA first without touching CPF SA?

CPF: No. You can't. You have to withdraw from CPF SA first.


  1. This comment has been removed by the author.

  2. I find the CPF website has this :

    Application to make cash refund of CPF saving used for property

    Is this what you want?

    Sometimes the CPF officer might not know what you want, so you have to explain clearly what you need.

    1. True. I may drop by again if I decided to go Bishan NLB to read newspapers when the weather is too hot for afternoon "work".

    2. Do you still remember the link to that CPF website stating "Application to make cash refund of CPF saving used for property"?

    3. http://www.straitstimes.com/business/invest/6-little-known-facts-about-the-cpf?login=true <-- this one?

    4. It is actually a form that you can download. If you prefer to see the CPF staff face to face, it will be good to show them the form to get your message through to them.

      The link is https://www.cpf.gov.sg/Members/Services/forms-and-e-app/schemes/housing/public-housing-scheme

      scroll to bottom to get the right form.
      Hope that this is what you are looking for.

  3. I think no need to go down lah :) Write a proper email, with proper official reply. That's better, and it'll hold them to their words haha

    I always prefer email, with its trail of paper :)

  4. Hi Uncle 8888

    Not everyone knows their work well.

    Better to write email

    1. Same issue with the one replying email. Right?

      Face to face at least we can verify verbally their competency e.g. ee, oo

    2. That why I still prefer paper and pen and lookout for facial expression for signs of doubts or surprise. like... walau. I didn't know or notice. :-)

    3. The email the officer wrote will need to be vetted before sending out one... you got black and white, can hold them accountable.

      Anyway the counterstaff they handle 19 to 20 plus schemes of cpf,not everything is well versed one

  5. Regarding withdrawal of CPF after 55, here is what CPF board wrote to me in black and white:

    CPF Withdrawal

    After setting aside the FRS in your RA, you can withdraw the remaining CPF balances in your OA,SA. When you withdraw your CPF savings, the Board processes all withdrawals of members who are 55 and above, using the deduction sequence as follows:

    1) the interest earned in the Special Account (SA) then Ordinary Account (OA) from the beginning of the year up to the month before the withdrawal, followed by

    2) the contribution/refunds credited to the SA then OA in the same month of the withdrawal, and lastly,

    3) Monies in the SA then monies in the OA.

    1. This is good reference for all readers to know. Tks

    2. How often can we withdraw OA/SA after setting aside FRS?

      Any limit of withdrawal (% of OA/SA)?


    3. I know someone who didn't read the Letter properly and ticked the box "accidentally" (wrongly) in the Reply Form and withdrew all the money in CPF SA and OA. When she realized it and then checked with CPF whether to return back the money. CPF said cannot!


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