Guide to Using CPF for Private Residential Properties

/ The Edge Property
June 10, 2016 12:00 PM SGT
Under the Central Provident Fund Board’s Private Properties Scheme (PPS), you can use your savings in CPF Ordinary Account (OA) to buy or build private residential property for occupation or investment.
It can be used for the following:
  • Pay purchase price of the property
  • Repay housing loan in part or whole and to service monthly housing loan instalments
  • Repay construction loan in part or whole and to service the monthly loan instalments taken to buy land and/or to construct a house on that land
  • Pay stamp duty, legal costs, survey fees and other related costs incurred in the property purchase, refinancing and/or construction of the house
All CPF members who are eligible to buy a private property are eligible under PPS with the following exceptions.
  • You are buying a property with remaining lease of less than 30 years
  • You are buying a property with a remaining lease of between 30 and 60 years and your age plus the remaining lease of the property is less than 80 years
  • You are a single person buying a private property with a non-related single and you have used CPF for an existing property
  • You are a married person buying a property with a non-related single
How much CPF can you use?
There are limits on the amount of CPF savings you can use to buy a private residential property
Valuation Limit (VL) is the purchase price or the value of the private property at the time of purchase, whichever is lower.
Withdrawal Limit (WL) is 120% of the VL. This is the maximum amount of CPF you can use for the private property.
To use your CPF beyond VL and up to WL, you need to meet the following requirements:
  • Below 55 years old: To set aside the current Basic Retirement Sum (BRS) in your Special Account (SA), including the amount withdrawn for investment and OA
  • 55 years and above: To meet the BRS in your Retirement Account (RA), SA (including the amount withdrawn for investment) and OA
Basic Retirement Sum​
Age 55 in 2016
Age 55 in 2017​
Age 55 in 2018
Age 55 in 2019
​Age 55 in 2020
The amount of CPF you can use is lower if you are buying a...