January 2022

many people who purchased an old resale flat that left less than 60 years lease around 2012 to 2017, suffered a loss when selling their flats now.. as their flats have depreciated by 100k to 200k. so they are not able to return the CPF used.. in fact, some of them got quite a big amt of their CPF wiped out.

Amazing post, thank you for sharing this knowledgeable post, really this is very helpful.

Dont think it is hdb that require u to pay the accrued interest. It is cpf that requires it

HDB should not charge accrued interest on CPF n they should be exempted. Buying a house it’s a form of investment and there are risk involved. When people making a loss from selling a house, why HDB still further their burdens to pay off the interest again.

Why does HDB require us to pay the acrued interest , isn't the cpf money our hard earned money safekeep for the purpose of buying a home.. And why are we paying interest to our money? These is making the people fall into more debt.. is that what the government wants, that we are in debt and cannot have a quiet retirement, instead have to work even at old age to cover these debts..when the money is used for valid purpose ls and not spluring. Government need to realise , we are their citizen not a foreigner, we should be protected from such debt. Not having to face more debts , as it is the cost of living is already high and still increasing with more gst , increase in all matters etc household bill, erp pricing,coe ,petrol tax, summons and home tax increae.. Where will find the money to have a family and save for our kids future . Even school fees are increasing.. so tell me how to retire as we grow older ... Amid covid and no jobs, govrnment still require us to make these payments .. Give us a break ... We need to appreciate and care for the elder generation and let those with families to have some savings.. if this trend continues, i forsee Singapore have lesser babies and the young educated migrating to other countries to seek better future than singapore . . Ease up on the rules n tax , and strengthen your peoples needs, give them better jobs, better opportunities, lower down on the cost of hdb housing and for resale ,ease on the tax and gst.. Not all of us are born with a silverspoon ... We are struglling day by day.. just to make sure all bills and needs are taken care.. and its getting harder everyday.. A wealthy nation doesnt mean a Happy nation.. if behind it is all the means to squeeze the people ... And not reward them for their hard work to build this nation ground up. Please be a caring and thoughtful leader.. not someone who only commands and does not know how the people are suffering.... We need a peoples leader, someone from the Middle income or low income family to rise.. Maybe one day... I pray for out kids future..

If you ever believe CPF is yours and yours only, and for retirement purposes, which was the original intent by our founding father LKY, then you can't be more wrong! Tell me a bank that charge you interest for drawing your own money? Tell me SGD600 per month is enough for you to survive in the ever costly Singapore! It's all a farce!!! When you go bank to cha'ge CNY money, you will get to change whenever there's enough to meet the withdrawal. But if there's shortage, you will be advice to come again the next day or next week. Ever why CPF cannot be withdraw in full? Think!!!

I opine,if the HDB owners fully paid for the HDB housing loan n are above retirement age,HDB should not charge for any accrued interest on CPF n they should be exempted. Hope,my suggestion got airing Thanks.

why you need to top up cpf in the form of accrued interest. this dont make sense. people are using cpf because they dont have money and yet need to pay for their own interest? they are not bank paying interest for themselves. this accured interest requirements has to be removed.

The number of people who could not fully return their CPF monies used for housing after selling their house has increased from about 3,380 in 2018, 3,960 in 2019 to 4,580 in 2020, according to a Lianhe Zaobao report yesterday. Citing a recent CPF report, this translates to an increase of 8% in 2018, 11%...

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