What will happen to my existing/ new CPF Regular Savings Plan (RSP) from 1 Jul 2010 onwards?
As RSP is essentially a buy order, it will be subject to the CPFIS minimum amount restriction. Your RSP purchase will be transacted successfully if you have CPF balances in excess of $20,000 in your CPF-OA or $40,000 CPF-SA. Please note that from Jul 2010 onwards, RSP deductions will fail if your CPF balances fall short of $20,000 in your CPF-OA or $40,000 in your CPF-SA, and after 3 consecutive failed deductions, your RSP will be automatically terminated. You can re-apply RSP after you have built up CPF balances in excess of $20,000 in your CPF OA or $40,000 in CPF SA. Please also note that we will be requesting your CPF monies 3 business days prior to the RSP subscription date ( RSP subscription date is the 8th of every month or next working day if the 8th is a non-business day).
