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Do not use the funds in the Retirement Account rashly

  • Lianhe Zaobao (15 April 2010) : Do not use the funds in the Retirement Account rashly
  • Lianhe Zaobao (01 April 2010) : Hope to be able to transfer funds from Retirement Account to Medisave Account

Do not use the funds in the Retirement Account rashly
- Lianhe Zaobao, 15 April 2010

We refer to Mr Lim Tze Guan's suggestion to transfer money from his Retirement Account (RA) to his Medisave Account (Lianhe Zaobao, 1 April 2010).

2.   When Mr Lim reaches his draw-down age, he will begin to draw a monthly income from his Retirement Account. That money, together with Medishield and Medifund, can then be used to help him pay for his medical and other retirement expenses.

3.   In the meantime, if Mr Lim's Medisave Account balance is insufficient, he can seek further Medifund assistance and subsidised dialysis treatment. This is a better solution than depleting his Retirement Account now, as his retirement savings will be needed for his future expenses.

4.   Mr Lim may contact CPF Board officer Sun Hui Yee at 62293396 for further clarifications or queries.


Hope to be able to transfer funds from Retirement Account to Medisave Account
- Lianhe Zaobao, 01 April 2010


I am a taxi driver and discovered a year ago that I have kidney failure and have to rely on dialysis to survive. Worried about financial and work problems and feeling depressed at that time, I nearly lost my senses and committed suicide. Thankfully, with the support from my family, counselling and assistance provided by SGH social worker, Medifund, NKF grant, Medisave and MediShield, I managed to settle some financial problems.

Today, I have been on dialysis for over a year and my health has slowly returned. Though my work is getting better, the mental burden is still very huge. As my monthly medical expenses are high, I am worried for my future once my Medisave savings are used up.

I am now 60 years old and my Medisave savings are nearly depleted. Only my Retirement Account (RA) has a sum of savings. I hope CPF Board can transfer the RA savings to my Medisave account so that I could afford the monthly dialysis fees and other medical expenses.

Last but not least, I hope CPF Board can help me resolve my mental burden and allow me to continue to strive for survival.