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I REFER to Monday's letter, 'Make CPF transfers elderly-friendly' by Ms Tong Jee Cheng.
Central Provident Fund (CPF) members are allowed to transfer their Ordinary Account savings directly to their Special or Retirement accounts up to the prevailing Minimum Sum, currently $99,600.
Members who are eligible to withdraw their Ordinary Account savings and wish to transfer these savings, in part or in whole, directly to their Medisave Account may instruct the CPF Board to do so in their CPF withdrawal application form. There is no need for these monies to be first credited to members' own bank account.
Information on transfers between different CPF accounts is available on the board's website www.cpf.gov.sg.
Lo Tak Wah
Director, Retirement and Investment Schemes
CPF Board
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