What if I can’t meet the BRS/FRS?

We got many readers asking about what happens if they failed to meet their CPF Retirement Sums (or minimum sum).
Today, we would like to address this question.

What happens if I can't meet the BRS/FRS?

Answer: NOTHING HAPPENS!

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

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

3) It is not compulsory for you to meet your CPF Retirement Sums

4) You will still be eligible to join CPF LIFE and receive a monthly payout when you reach the payout eligibility age.

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5) You can still draw out $5,000 from your CPF when you reach 55 years old even though you did not meet the Retirement Sums

6) If you turn 55 from the year 2013 onward, you may withdraw out 20% of your savings in your Retirement Account at age 65.
PS: the $5,000 you withdraw at age 55 will constitute part of the 20% you can withdraw at age 65.

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