Comments on: CPF Withdrawal: 2 Ways

By: SP

SP — Mon, 09 Jan 2012 06:10:20 +0000

Hi All,

I have few questions to ask, may someone help. Am Singaporean and applying citizenship as Malaysian. My parents are both malaysian and am 49years old coming to 50years and was born in Malaysia-Melaka. I have bought a bungalow house recently and intend to stay there. At the sametime I have lands left by my late parents. I’ve sold my property in Singapore and leave at my cousin house for time being.

The main concern that I have is, after I renounce my Singapore citizenship will I be able to withdraw my full CPF money? Thank you

By: Maya

Maya — Sat, 10 Dec 2011 07:27:16 +0000

geez 50%! That’s pretty nasty..i have an existing UOB account but will research on alternative off-shore bank acct in Sing. Thanks for your input Yammy!

cheers
Maya

By: Yammy

Yammy — Sat, 10 Dec 2011 01:17:35 +0000

Yes it will be taxed as savings! For middle income it is around 50% so better keep an off-shore bank account in Singapore.

By: Maya

Maya — Fri, 09 Dec 2011 10:37:49 +0000

Hi All,

Does anyone here hold Australian citizenship (ex-sporean)? Is the CPF money taxable once they are transmitted into your australian bank account? I am currently an Australian PR and applying for a citizenship seems inevitable. Appreciate your advice.

Cheers!

Maya

By: Temperance

Temperance — Fri, 22 Apr 2011 14:52:14 +0000

To BH,

Thank you for your helpful pointers. Indeed, the process can be very daunting especially since the renounciation form requires that one fills in every past job on one’s resume. I only hope mine will proceed as smoothly as yours. Once again, appreciate the response and tips.

By: boiling frog

boiling frog — Fri, 22 Apr 2011 05:20:23 +0000

I appreciate and thank BH for the kind words.

The likelihood of I ever being employed in the same or similar industry in $ingapore is almost nil.

In view of the age and gender discrimination practised by most employers, even jobs like security guards and food courts(hawker centres) cleaners are being snapped up by “foreign talents”.

Starting a food business(stall) in $ingapore is tantamount to throwing away good $$$.

Australia or New Zealand has always being my choice for my “golden years” but in spite of the many eligibility options, I am still not able to meet the requirements.

Someone once suggested that I can opt to “try out” in Australia in the form of “long term medical care” but I wonder whether will it be detrimental to me should there be a sudden change of policy/ies by the relevant authorities.

The total withdrawal of my CPF $ is also an underlying agenda for wanting to emigrate.

I would appreciate if anyone who read this article can offer any other feasible suggestion/s.

I believe there are many others who are in the same boat too.

Meanwhile I can feel the water temperature rising but still unable to jump out despite the absence of a lid over the pot.

By: BH

BH — Wed, 20 Apr 2011 11:25:58 +0000

To Boiling Frog, I am very sad to hear of your predicament. I understand what it is like to feel like a frog slowly boiling in the pot. Please don’t feel discouraged. Many of us had to get out in order to live. I don’t mean in order to survive, but rather, in order that we might live life. I believe Australia and New Zealand have tightened up their immigration policies. However, if you have sufficient funds to start a business, there may be Business Categories in the immigration classification that you might fall under. I know that in these two countries, nurses and nursing aides have better chances of entering the country. Even if you think you are not eligible, take the time to find out for sure. Check with the various embassies/high commissions to see if someone there can help you find a category in which you could fit. Don’t be downhearted. Many have travelled this same road and been at the same crossroad but those who give up in despair, get nowhere. Sometimes you may have to make a brief detour in order to get to your destination. Always, you have to think outside of the box. Take heart & be encouraged. No situation is ever so bad there is no way out. God bless.

By: BH

BH — Wed, 20 Apr 2011 11:15:53 +0000

Hi Temperance, In answer to your question, I renounced my citizenship and the Singapore authorities accepted it without any issues. the advice I would give you is that where the questions are odious and multitudinous, don’t let them phase you. They ask for such details as your siblings and your parents’ birth certificate numbers and NRIC nos. It was difficult for us because my in laws pretty much cut their ties with us because we had become Christians and they didn’t approve. We could not have asked them for their intimate details. The overseas high commission advised us to fill the form in as best as we could and write “Information Unavailable” where we could not provide the details. Also, if you are in Singapore, hand the form and personal docs (originals) by hand. It will save you the worry of docs getting lost in the post. The process took about a 5 weeks because we were overseas and the docs and forms had to wait until there was a reasonable number of items to be bulk sent back to Singapore by courier. The money can be sent to your overseas account but there will be a little delay. All the best. Hope this is helpful.

By: Ravin

Ravin — Wed, 20 Apr 2011 04:37:30 +0000

Is there any way to withdraw your CPF contributions – applying to Malaysians whom are no longer working in S’pore and/or dont have plans to return to work there? Please help!!

By: To frog

To frog — Wed, 20 Apr 2011 03:55:44 +0000

What is your question? How do you want us to help you?