I wish to hold to my existing CPF Non-IA holdings. How do I convert the status of such CPF Non-IA holdings from “Non-IA” to “IA”?
You may be able to convert the status at 0% switching fee by placing an Intra-Switch order under Transaction > Switching > Switch Intra Fund House (with some exceptions). After selecting your CPF Non-IA fund as the switch-sell fund, you will be able to select the SAME fund as the switch-buy fund. What we will do is that we will sell your existing Non-IA fund on T and buy back the same fund under “IA” status on T+5 business days later. Once the status of your CPF fund has been changed to “Non-IA” to “IA” status, switching order placed going forward will not be subjected to the CPFIS minimum amount restriction. Please note that you may have to bear the market risk involve in this conversion process. This is because the switch-sell price of your fund will be based on T date and the switch-buy price of your new fund will be based on T+5 business days later. You will also have to bear the agent bank charges incurred in this conversion process.
