The rumours about 55 and above.

Recently on Facebook, this was being shared and of course, Mama shared with me

Baba is 64 this year and hardly falls sick, which only means he should have quite a fair bit in his Medisave. So Mama thought I should check this out because they could use the extra money since they going Jogja in September.

Turns out this shit is legit okay.

Yes, my dad has successfully withdraw from his Medisave. So how can you check?

First, your parents must have their singpass. If they have never activated or forgot their password, they can get one/reset at any of the CCs HERE!

Step 1: Log into CPF to check their Medisave account. You can see if your parents have the balance of $43,500 and above or not.

Step 2: On the left hand side bar, click on 'My Requests' to bring you to this page

Step 3: Click on the little computer beside 'Retirement (eg, Retirement Sum & Age 55 applications)' to bring you to this page

Step 4: Click 'Withdraw my CPF at age 55' and it will be bring you to this page which explains to you what the little rumour is explaining:

So this thing can be done by 31st December 2015. So as long as your parents is 55 or turning 55 in TWO months time, they can apply. If not, they will not be able with withdraw.

Step 5: Click 'Continue' to bring you to your request page:

Step 6: Fill in your parent's IC number, click on 'full amount of about $xxx that I am eligible to withdraw', click on 'I do not wish to top-up my MA using my OA and SA savings' then at the bottom of the page, fill in the bank details of where the $$$ to be transferred.

Don't fill in your bank account ah! Haha, although I disturb Baba that I charge admin fees. Hehehe. The whole process will take 5 working days for them to review and approve. Currently, it is approved but money is not in yet. So you have a rough idea of the timeline.

You're welcome.

I shall continue my 3rd Trimester blog entry.