How would I know whether I have a shortfall in my CPF savings to pay for the monthly mortgage instalments?
You can find out if you have a shortfall by checking your latest CPF Statement of Account. From the Statement of Account, you can estimate how long the balances in your CPF Account can service your monthly instalments. Example: a) No. of months before Ordinary Account balance is exhausted: Balance in Ordinary Account Monthly shortfall b) No. of months before Special Account balance is exhausted: Balance in Special Account Special Account limit or monthly shortfall, whichever is lower No. of months the CPF balances can service the monthly shortfall is a+b. Where to obtain the CPF Statement of Account You may check your latest CPF balances through the CPF PAL-Phone or CPF PAL-Internet. The Statement is also available at any CPF office.
