So what does cpf do when the owners do not have enough moneysmart to return? So don't need to return? Then that's a loophole.

CPF is for Retirement ..rule number 1. Any amount taken out for Housing muz b put back + interest... rule number 2 STOP The CPF abuse ... effectively with rule 1 n 2. Retires with CPF saving with your hard earned saving honorably n with pride.

Thats because when you allow Public Housing to raise till like there is no tomorrow, you are actually robbing the people CPF. The HDB should justify their BTO housing price tags and be transparent about it.

I'm considering myself as mid class and the few lucky ones with no debts. HDB fully paid and own another property. Life is bless for me. But Im worry and fear for the future of SG. The worry for my children and the next generation. The high cost of HDB flats,( easily 600k and above for new) the competition for jobs and University. I don't want my children to be in the rat race, slave to mortgage loan. A milking cow working for the gov or society. Our quality of MPs just sucks and can't compared with the 1st gen of old guards and the list goes on... But before we can complain more, do understand there's no perfect country and government. There's always a trade off and can't have best of both world. Yes, sg flats are expensive. But most of us have a home or shelter over our head. (Try compare to our neighbouring country Thai,info,Viet,phill, JB and worse HK) SG is a small country with no natural resources and it's getting hard to be in the game especially when neighbouring countries are slowing catching up. Sg may not be the best place for our next future generations maybe 20-30 years from now. My advice for my kids would be to ask them to venture the world ( studying/ working/ business) most likely my future generation would not be here to stay for good.

Home isn’t just where the heart is. In Singapore, home is also where the money is. Many people pour all their money into their properties, signing up for massive loans...

The post 2 Things to Consider When Buying an Old HDB Resale Flat appeared first on MoneySmart.sg.

and why retirement account cant be use to buy hdb the cpf that you people automatic trsf it to RA,seems like we are your children after 65 you give as back our pocket money every month,I dont know I can live longer to feel the money so why not l pay all the RA money for my BTO that's my retire home too

Maybe 99.co can correct my interpretation if I am wrong. The accrued interest is not the amount being paid to CPF nor HDB and disappear. It is mentioned in the article that "On the other hand, if the property was sold at a market price, after paying off the outstanding loan, if the remaining balance is less than the amount of CPF savings to be returned, they would not have to top up the difference in cash." So it should not be considered as debt. It is the additional amount that should had been parked into my CPF account after house sales. This can be withdrawn by cash at 55 under their terms and conditions fulfilled, or given back to me for retirement as CPF Life Payout, or given to my beneficiary when I die. Is my understanding correct?

Kalang guni man got no cpf and die without money bring to oven .. haha

The accrued interest is compounded interest of 2.5% based on the amount withdrawn (lump sum and monthly mortgage payments) over the withdrawn period. The accrued interest goes back to the individual(s) CPF OA account. So actually, this helps to increase your CPF OA sum which eventually will be transferred to your retirement account. Personally to me, it is a good approach that the govt is helping us (the citizens) in our retirement. I did my sums before I sold my hdb and as such, I was about to return both the original sum plus accrued interest and have some positive cash returns as well.

I have been doing the researching of apartments to rent myself, scheduling the viewing appointments and seeing the apartments on my own. A couple of landlord agents have told me that even though I did all the work myself without any tenant agent whatsoever, I must still pay the commission of the landlord's agent simply because the market right now is in favor of the landlords and the landlords are deciding to pass the expense on to the tenants. I find this unethical and corrupt. What recourse do I have?