Oral Answer to PQ on CPF withdrawal for foreigners

NOTICE PAPER NO. 44 OF 2025 FOR THE SITTING ON OR AFTER 24 SEPTEMBER 2025
QUESTION NO. 316 FOR ORAL ANSWER

MP: Mr Yip Hon Weng

To ask the Minister for Manpower (a) what is the policy rationale for maintaining the distinction of allowing citizens to withdraw CPF savings only after the age of 55, while permanent residents (PRs) may withdraw CPF monies in full upon relinquishing PR status and leaving Singapore; (b) how does the Ministry balance the need to protect citizens’ retirement adequacy with ensuring fairness across different CPF members.

Answer:

1. The CPF system is a key pillar of Singapore’s social security which helps Singapore Citizens (SCs) and Permanent Residents (PRs) set aside savings for their retirement, housing and healthcare needs.

2. For those who renounce their citizenship or permanent residency status, their participation in the CPF system and all other CPF schemes will cease, and can thus withdraw their CPF monies in full. Any unwithdrawn savings will cease to earn the prevailing CPF interest rates.

3. Similarly, the CPF withdrawal rules are also applied consistently across SCs and PRs. For example, to safeguard retirement adequacy, SCs and PRs are required to set aside the Full Retirement Sum (FRS) at age 55 or up to half of the FRS with a property pledge, to provide a basic payout for life from age 65. Members can also make withdrawals from their CPF savings from age 55 onwards, subject to prevailing withdrawal rules.