How to Withdraw $5,000 from CPF

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How to Withdraw $5,000 from CPF
A woman holding $5,000 she withdrew

How do I withdraw money from CPF ordinary account? Can I withdraw from CPF online? Since you are here, it is obvious you are looking for ways to cash out from your CPF. Well, we got your back. In this article, we will teach you how to withdraw $5,000 from CPF online and offline.

CPF, also known as Central Provident Fund is a savings and pension plan for Singaporeans and legal residents primarily to fund their retirement , education, healthcare, and other basic needs in Singapore.

However, many Singaporeans have been looking for ways to simply withdraw their CPF without stress. It is for this reason we have written this article to guide you withdraw your CPF. There are several ways to withdraw from your CPF. You can withdraw online, by post, and over the counter.

Ways to Withdraw $5,000 from CPF

Below are some of the popular ways to withdraw from your CPF:

1. Withdraw CPF Online

To withdraw from your CPF online, you must have your SingPass account. Once you have created your SingPass account, you can follow the steps below to withdraw:

  • Visit the CPF website to login to your SingPass account online
  • On your homepage, navigate to the "Withdrawal" and then "Withdraw from Ordinary Account"
  • Enter the amount of CPF you wish to cash out. You need to enter at least $5,000
  • Choose your preferred withdrawal method
  • Finally, click on 'Submit' and wait for your message

2. Over the Counter CPF Withdrawal

Another way to withdraw $5,000 from your CPF is over the counter. Follow the instructions below:

  • Visit any CPF service centre
  • Bring your SingPass or NRIC and your CPF card
  • Tell the teller you want to cash out $5,000 from your CPF ordinary account
  • Choose how you wish to withdraw
  • Sign the withdrawal form and collect your money

3. Withdraw $5,000 from your CPF through Post

Another way to withdraw your CPF is by submitting a CPF form through post. Follow the steps below to do this:

  • Visit the CPF website to download the withdrawal form
  • Fill in the form and sign it
  • Include a copy of your SingPass or NRIC and your CPF card
  • Mail the form to he CPF address

Read also: How to Withdraw Money from Grab Pay

It is essential to note that withdrawing from your CPF via post usually takes about 3 working days.

Tips for withdrawing from your CPF 

  • You can only cash out $5,000 from your ordinary account
  • You are allowed to withdraw $5,000 once in a calendar year
  • To be able to withdraw from your CPF account, you must have at least $5,000 in your ordinary account
  • You will be charged $5 for a processing fee when withdrawing $5,000 from your CPF

FAQs

Here are some frequently asked questions about withdrawing from your CPF:

Can I withdraw from CPF ordinary account? 

Yes, you can withdraw from your CPF ordinary account. Just follow all the withdrawal methods listed in this article.

What are CPF ordinary withdrawal methods?

  • CPF Online Withdrawal
  • Over the Counter CPF Withdrawal
  • Withdraw $5,000 from CPF via Post

Conclusion

We hope that by going through this article, you have learnt how to withdraw $5,000 from CPF ordinary account online and offline. If you have any questions or concerns, you can let us know in the comments section below.

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