Introduction

Recently, I saw a social media post regarding the CPF voluntary housing refund after 55 and there were many comments that you can withdraw your cash anytime after 55. It was further proven by many after 55 readers who were commenting that they were enjoying higher interest rate of 2.5% which is much better than the banks and they can withdraw the cash anytime they like.

After 55

As I am already over 55 and have met the FRS (Full Retirement Sum), so what I did was to do a test and deposit 100 SGD using the VHR features.

The finding is that, NO, you can’t withdraw the cash if you do a CPF voluntary housing refund after 55 even though you have met the FRS. The S$100 from your Ordinary Account has been reserved to be transferred to your Retirement Account.

Before 55

My wife was still under 55 and I did another test using her CPF account.  The same amount also went into her CPF Ordinary and was NOT reserved to be transferred to her Retirement Account.  Her Special Account has also already met the FRS amount.  This means that you should do your voluntary housing refund BEFORE 55.

The Gap

I believe those who comments that they were able to withdraw their cash after doing the CPF voluntary housing refund after 55 were genuine.  CPF must have read about the gap or loop hole and may have quietly cover it up as to prevent more of those after 55 individuals from taking advantage of the loop hole.  We can just says that the social media is a double edge sword.

Conclusion

Therefore, whatever CPF hacks you read on social media like Facebook or Instagram etc. you really have to test it out to ensure that the tips still work.   I believe that many after 55 who did not test out may later regret it after they try to withdraw the cash when they need it.  All the cash deposit using the CPF voluntary housing refund after 55 is still your money and will be given back to you MONTHLY in the form of CPF Life after 65.