tweetie76 0 Report post Posted March 12, 2008 (edited) think you can only transfer to top up retirement account, provided you have the minimum sum set asidecan't use retirement a/c to buy hdb flat i have check leh..they not need to meet the MSS, anyway they got no house how to meet MSS ? Edited March 12, 2008 by tweetie76 Share this post Link to post Share on other sites
applefreak 1 Report post Posted March 12, 2008 (edited) no not they meet, is you meetthat means if MSS is $90,000, you need to have at least $90,000 in your OA before you can transfer to their retirement account edit - oops sorry. just checked the cpf websiteyou need to have a total of 1.5 times the prevailing min sum in OA + SA before you can use your OA to top up their min sum Edited March 12, 2008 by applefreak Share this post Link to post Share on other sites
tweetie76 0 Report post Posted March 12, 2008 no not they meet, is you meetthat means if MSS is $90,000, you need to have at least $90,000 in your OA before you can transfer to their retirement account edit - oops sorry. just checked the cpf websiteyou need to have a total of 1.5 times the prevailing min sum in OA + SA before you can use your OA to top up their min sumoh, so can i use my CPF to purchase new flat when i sell my existing flat ?I definately cannot meet MSS now.. !! looks like there is definately no way out... Share this post Link to post Share on other sites
tweetie76 0 Report post Posted March 13, 2008 oh, so can i use my CPF to purchase new flat when i sell my existing flat ?I definately cannot meet MSS now.. looks like there is definately no way out... this is the reply i got from CPF - Members who have attained 55 years of age may use their CPF Ordinary Account savings and the permissible amount from their Retirement Account (if any) for the purchase of a HDB flat. For a new HDB flat bought directly from HDB, members may use up to 100% of their CPF Ordinary savings to pay the purchase price of the flat and to service the HDB housing loan till full redemption. For a resale HDB flat, the total CPF withdrawal is subject to the Valuation Limit, i.e. the purchase price or the market valuation of the flat at the time of purchase, whichever is lower. Members who are above the age of 55 may withdraw above the Valuation Limit to service the HDB housing loan, if they have met the Minimum Sum cash component shortfall. Under the CPF Minimum Sum Topping Up Scheme, Singaporeans and Permanent Residents are allowed to top up to their parents’, grandparents', siblings', spouse and self Retirement Accounts only, starting from the recipients' 55th birthday. The top up monies cannot be used for housing purposes. Share this post Link to post Share on other sites
applefreak 1 Report post Posted March 13, 2008 the only way is to save like mad and get them a studio apt with casha studio apt cost ard $80,000 so until and unless you manage to cough up $80,000 :dunno: Share this post Link to post Share on other sites
tweetie76 0 Report post Posted March 13, 2008 well, i guess i hv to wait till i strike toto, or maybe next life Share this post Link to post Share on other sites
tweetie76 0 Report post Posted April 12, 2008 (edited) the only way is to save like mad and get them a studio apt with casha studio apt cost ard $80,000 so until and unless you manage to cough up $80,000 :dunno:hiwent HDB liao, need to pay 5k lawyer fees + topup mil CPF.,,hopeless liao..my hse is going to mature this sept, i dont think i can move hiwent HDB liao, need to pay 5k lawyer fees + topup mil CPF.,,hopeless liao..my hse is going to mature this sept, i dont think i can move just to ask if i buy resale, do i need to stay for 5 yr before i can sell ? Edited June 18, 2008 by tweetie76 Share this post Link to post Share on other sites
hello88 2 Report post Posted April 12, 2008 just to ask if i buy resale, do i need to stay for 5 yr before i can sell ?if u took grant for the resale flat then u have to stay for 5 years then can sell. Share this post Link to post Share on other sites
GoalHome 1 Report post Posted April 12, 2008 just to ask if i buy resale, do i need to stay for 5 yr before i can sell ?5yrs... if take hdb grant2.5yrs... if no grant, take hdb loan1yr... if no grant, take bank loan... or fully redeemed hdb loan Share this post Link to post Share on other sites
tweetie76 0 Report post Posted April 14, 2008 (edited) 5yrs... if take hdb grant2.5yrs... if no grant, take hdb loan1yr... if no grant, take bank loan... or fully redeemed hdb loani am so vex with this hse thing, even cannot buy studio apartment if mil name is not removed Edited June 18, 2008 by tweetie76 Share this post Link to post Share on other sites
tweetie76 0 Report post Posted May 12, 2008 (edited) i am so vex with this hse thing, even cannot buy studio apartment if mil name is not removed Just some update..MIL went HDB to remove her name in the 3rm flat..need to pay $5K CASH for legal fees, and nobody is willing to fork out..sigh Edited May 12, 2008 by tweetie76 Share this post Link to post Share on other sites
applefreak 1 Report post Posted May 13, 2008 wah remove name got to pay $5k :jawdrop: Share this post Link to post Share on other sites
tweetie76 0 Report post Posted May 14, 2008 (edited) wah remove name got to pay $5k :jawdrop: yalor..so call lawyer fees, but if she find someone take over, then can deduct from CPF but if she is removing her name , then must pay CASH. Even CPF /HDB officer also say, why don't stay with yr mum (grandma), so dangerous to let her stay alone..blah.. but in fact , is mum (grandma) who kick her daughter out. btw, one of the cousin is willing to take over, but grandma refused..scared the cousin's wife will take away her flat Edited May 14, 2008 by tweetie76 Share this post Link to post Share on other sites
applefreak 1 Report post Posted May 14, 2008 your grandma kick her own daughter out, now worried about being kicked out by others... sigh... Share this post Link to post Share on other sites
tweetie76 0 Report post Posted May 14, 2008 your grandma kick her own daughter out, now worried about being kicked out by others... sigh... yahor, i nvr tot of that aspect ..so will that happen to me in future ? cos i also want to move out from PIL too... but i am not kicking them out, i m helping them to find a flat... Share this post Link to post Share on other sites
