Singapore-based financial blog that aims to educate people on personal finance, investments, retirement and their Central Provident Fund (CPF) matters.

Thursday, 14 July 2016

What happens if my OA+SA is below BRS?

11:37 Posted by cheez 2 comments
Today, we could like to address this question:

What happens if my OA+SA is below the BRS?


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1) You do not need to personally top up your CPF accounts with your cash to reach your BRS

2) No penalty involved if you fail to meet your CPF BRS

3) It is not compulsory for your to meet your CPF BRS

*4) You will still be eligible to join CPF LIFE and receive a monthly payout when you reach the payout eligibility age.
There is a amount that will automatically make you participate in a CPF LIFE plan.
However, if you fall below the amount and wish to join CPF LIFE, you would need to submit an application to CPF to join.

Join CPF LIFE Turn 55 between 1 Jan 2013 to 30 Apr 2016Turn 55 on 1 May 2016 and after
Automatically $40,000 in RA when you reach 55 NA
Automatically $60,000 in RA when you are near your payout age $60,000 in RA when you are near your payout age
via Application Fail to reach the above requirements Fail to reach the above requirement

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BRS: Basic Retirement Sum
OA: Ordinary Account
SA: Special Account
RA: Retirement Account

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  1. Does that mean that those who do not apply for CPF life will be able to wihdraw the full sum?
    Or will it be kept inside your RA until you pass away and your children will inherit it.

    Cant seem to find info on this on cpf website.
    Thank you.

    1. Hi,

      Thank you for your question.

      1) You won't be able to withdraw the full sum.

      2) The money in your RA will be used to give you a monthly payout for about 20 years. By the end of the 20 years, your RA should have been depleted fully.

      3) You can apply to join CPF LIFE before you reach 80 so that you will be assured a monthly payout for as long as you live (instead of 20 years).

      Hope this answers your question.
      If you have any more questions, feel free to comment or email us!
      Thank you!