Written Answer to PQ on CPF withdrawal limits

NOTICE PAPER NO. 496 OF 2026 FOR THE SITTING ON OR AFTER 13 FEBRUARY 2026
QUESTION NO. 1423 FOR ORAL ANSWER

MP: Mr Fadli Fawzi

To ask the Minister for Manpower (a) when the unconditional withdrawal limit of $5,000 from the CPF Special and Ordinary Account savings for Singaporeans at age 55 was last increased; (b) since 2023, whether the Government has reviewed if this limit can be increased; and (c) if so, what is the outcome of that review.

Answer:

1. The Central Provident Fund’s (CPF) withdrawal rules need to be viewed holistically and we should not look at any single one in isolation. Apart from the $5,000 unconditional withdrawal facility, which has been in place since 1995, the CPF system has introduced other built-in withdrawal flexibilities for members age 55 and above. Members with savings above their cohort Full Retirement Sum (FRS) can withdraw such excess savings. Property owners also have the flexibility to set aside their FRS in a mixture of property and cash and withdraw their Retirement Account (RA) savings above the Basic Retirement Sum. Since 2023, cohorts turning age 65 can also withdraw up to 20% of their RA savings from age 65.

2. The intent of the CPF system is to meet members' long-term retirement needs. This includes striking a fine balance between members' immediate needs and ensuring sufficient retirement income in their later years, especially for those who have not met their FRS. The current withdrawal rules still remain relevant, as increasing withdrawal flexibilities comes with the trade-off of lower monthly payouts in retirement.