I have been retrenched/I am a housewife who had worked before/self-employed. Can I use my Special Account savings to pay my monthly housing instalments?
The use of the Special Account is to help members meet their housing loan shortfall arising from the cut in the CPF contributions to the Ordinary Account. However, as a concession to members who are not affected by the CPF cut, the use of the Special Account is extended to them after their Ordinary Account savings have been depleted. a) CPF members with employer’s contributions The amount that can be used every month is the shortfall in the monthly instalment payment arising from the cut in the CPF contributions to the Ordinary Account, subject to the maximum of $360 (ie. 6% of $6,000) per contribution per month. b) CPF members who do not have employer’s contributions recently The limit is $100 per month (about 6% of $1,600, the median monthly income of workers).
