Cutting down the use of CPF for properties

A healthy balance is a good safety net for hard times, retirement

People visiting the Parc Canberra executive condominium sales gallery. Close to one million homes here are now funded fully or partially with Central Provident Fund money. In good times, it may be fine to use retirement funds to pay home loans, the w
People visiting the Parc Canberra executive condominium sales gallery. Close to one million homes here are now funded fully or partially with CPF. PHOTO: HOI HUP REALTY
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If you have regular income but find that the balance in your Central Provident Fund Ordinary Account (OA) is still low, it could be a sign that you have used too much of it to pay for your home.

Almost every member looks to their CPF to fund the purchase of property, whether in lump-sum down payments or to meet the monthly mortgage.

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A version of this article appeared in the print edition of The Sunday Times on July 12, 2020, with the headline Cutting down the use of CPF for properties. Subscribe