Can I withdraw my CPF if I leave Singapore?

By | January 21, 2021
0 Comment

Like it or not, the Central Provident Fund (CPF) is a key part of Singaporeans’ lives. It ensures Singaporeans contribute steadily towards their own retirement nest egg during their working years and protects their monies against inflation with risk-free guaranteed returns.

But what happens to their CPF monies when Singaporeans or Permanent Residents (PR) decide to leave Singapore and migrate overseas?

If You Plan To Keep Your Singapore Citizenship/Permanent Residency

There are many reasons why some Singaporeans might want to migrate overseas temporarily and then return, such as a job posting, giving their children exposure to another education system, or taking a sabbatical.

In those cases where you intend to keep your Singapore citizenship or PR status, your CPF accounts will still be active, though you or your overseas employer will not be required to make CPF contributions. Your existing CPF funds will continue to earn the prevailing CPF interest rates while you’re overseas.

With the understanding that contributing to your CPF and MediSave accounts help ensure you have enough for your retirement and medical expenses, you might want to consider making periodic voluntary CPF contributions.

While you cannot use your MediSave funds to pay for your medical expenses while you’re overseas, you can still use the money in your MediSave account to pay for hospital bills of your family members residing in Singapore.

What Happens If You’re Leaving Singapore For Good

If you plan to leave Singapore and West Malaysia for good and wish to renounce your citizenship or PR status, you can withdraw all your CPF savings. Malaysians who wish to leave Singapore but still reside in West Malaysia can also make CPF withdrawals.

These constitute special grounds under which your CPF monies can be withdrawn in full, apart from the typical withdrawals from the age of 55.

CPF Funds: Once you renounce your citizenship or PR status and apply to withdraw your CPF savings, you will receive all your CPF funds (Ordinary Account, Special Account and MediSave) either by interbank GIRO to your Singapore bank account, or a telegraphic transfer to your overseas bank account. Any existing tax liabilities you owe to the Inland Revenue Authority of Singapore (IRAS) will be deducted from the CPF monies you’ll receive.

CPF Investment Scheme: If you made any investments under the CPF Investment Scheme (CPFIS), these investments will need to be transferred to your own Central Depository (CDP) account. CDP will levy a $10.70 transfer fee for every counter transferred from your CPF Investment Account to your CDP account. After this is done, you are free to liquidate your investment holdings or maintain it.

CPF LIFE: If your CPF LIFE plan is already in effect, you can either apply to terminate your CPF LIFE plan and receive the remaining unused premiums, or opt to remain in the CPF LIFE Scheme, and continue to receive monthly payouts to your Singapore bank account for as long as you live.

How To Apply To Withdraw Your CPF Monies

If you’re still in Singapore, you can make the application in person at one of the CPF service centres. If you’re overseas, you can make the application by mail.

For those intending to apply in person, you need to complete the Application to Withdraw CPF on Ground of Leaving Singapore and West Malaysia Permanently with the original supporting documents stipulated on Page 4 of the form.

For those who want to apply by mail, you need to complete the same application form, witnessed by an official at a Singapore Overseas Mission and have your photocopied supporting documents certified by the same official.

Leaving The Safety Of The CPF Umbrella

You probably feel great receiving a lump sum of your CPF monies. However, you should remember that with this great sum of cash comes great responsibility.

First of all, all CPF monies are protected from creditors in the event of bankruptcy or legal claims. Your cash no longer enjoys this protection.

Second, your CPF monies were earning guaranteed, risk-free returns for you, which mitigates the erosion of your retirement funds due to inflation. The mandatory contribution to your CPF also ensures you are steadily growing your retirement nest egg during your working years.

Now that you have left the CPF system, you are fully responsible for your own retirement adequacy. The prudent investment of your retirement funds and disciplined saving is more crucial than ever.

You might want to speak to a professional financial adviser as soon as possible to explore the available solutions that can replicate the features of CPF you have come to rely on.

Related Resources

🛡️ PSIRA Registration Guide Step-by-step PSIRA registration and renewal process
🔍 Smart Search for Everyone Educational resources and academic support services
🏛️ University Applications University admission requirements and application tips

Sponsored Content

Complete Guide to NSFAS Online Loan Application for South African Students (2025)

If you are a South African student looking to pursue higher education but are facing financial difficulties, the National Student Financial Aid Scheme (NSFAS) is one of the most accessible funding options available. NSFAS provides financial aid in the form of bursaries and loans to qualifying students at public universities and TVET colleges in South Africa.

This guide will walk you through everything you need to know about the NSFAS loan application process, from eligibility requirements to application steps and frequently asked questions.

📌 What is NSFAS?

The National Student Financial Aid Scheme (NSFAS) is a government-funded financial aid scheme aimed at helping students from low- and middle-income households to access tertiary education without the burden of upfront fees.

NSFAS offers both bursaries and income-contingent loans:

  • Bursaries: For eligible students who meet academic and household income criteria (especially for TVET and university students).
  • Loans: For students who do not meet all bursary criteria or who are pursuing postgraduate qualifications not funded under bursary schemes.

✅ Who Qualifies for an NSFAS Loan?

To qualify for an NSFAS loan (especially for postgraduate students or programs not funded under the bursary system), you must:

  • Be a South African citizen.
  • Be financially needy, with a household income of less than R350,000 per year.
  • Have a valid South African ID.
  • Be enrolled or accepted to study at a public university or TVET college.
  • Not be funded through another bursary program that covers all expenses.
  • Maintain satisfactory academic progress (returning students).

📚 Courses Funded by NSFAS

NSFAS primarily funds undergraduate qualifications, but certain postgraduate programs (e.g., PGCE, postgraduate diplomas in education, and professional courses like LLB) may be considered under the NSFAS loan scheme, not bursaries.

If you’re studying:

  • Undergraduate degree or diploma: You are likely eligible for a full NSFAS bursary.
  • Postgraduate study: You may qualify for a loan, depending on the course and funding availability.

📄 Required Documents for NSFAS Application

When applying, make sure you have the following documents scanned and ready:

  1. Certified copy of your South African ID or Smart Card.
  2. Parent(s) or guardian(s) ID documents.
  3. Proof of income (latest payslips, UIF, or affidavit if unemployed).
  4. Consent Form signed by your parent(s)/guardian(s) to allow NSFAS to verify income.
  5. Proof of registration or acceptance at a public institution.
  6. Academic transcripts (for continuing or postgraduate students).

🖥️ How to Apply for an NSFAS Loan Online

Step-by-Step NSFAS Online Application Process (2025)

  1. Visit the NSFAS Website

    Go to: https://www.nsfas.org.za

  2. Create an Account

    • Click on “MyNSFAS” and register your profile.
    • You’ll need a valid email address and South African cellphone number.
    • Choose a strong password and verify your account via email or SMS.

  3. Login and Start the Application

    • After registration, log in to your MyNSFAS account.
    • Click on “Apply” to begin a new application.

  4. Fill in Your Personal Details

    • Input your ID number, name, surname, and other details exactly as they appear on your ID.
    • Provide household income information and living arrangements.

  5. Upload Required Documents

    • Upload all supporting documents in PDF or JPEG format.
    • Each document must be clear and under the size limit specified.

  6. Submit Your Application

    • Review your application for accuracy.
    • Click “Submit” and wait for a confirmation message.

  7. Track Your Application

    • Log in regularly to check your application status.
    • You will be notified via SMS and email at each stage of the process.

🗓️ Important NSFAS Dates (2025)

  • Application Opening Date: September 1, 2025
  • Application Deadline: January 31, 2026
  • Appeals Period: February 2026 (if rejected)
  • Disbursement: After registration and approval

Note: Dates are subject to change; always confirm on the official NSFAS website.

💸 What Does the NSFAS Loan Cover?

NSFAS funding typically includes:

  • Tuition fees
  • Registration fees
  • Accommodation (if living away from home)
  • Meals and transport
  • Learning materials (e.g., textbooks)

For loans, repayment is only required once you start working and earn above a threshold (around R30,000 annually, but subject to change).

🔄 NSFAS Loan Repayment

Repayments are:

  • Income-contingent – you only repay when you can afford to.
  • Administered by DHET (Department of Higher Education and Training).
  • Interest-bearing, but interest rates are low and favorable.

You can also apply for a partial loan conversion to a bursary if you perform well academically.

🔁 How to Appeal a Rejected NSFAS Application

If your application is rejected, you may submit an appeal via your MyNSFAS portal:

  1. Log into your MyNSFAS account.
  2. Click on “Track Funding Progress”.
  3. If rejected, click on “Submit Appeal”.
  4. Upload any missing or corrected documents.
  5. Provide a clear explanation or motivation.

📱 NSFAS Contact Information

📝 Final Tips Before Applying

  • Apply early to avoid system overload near the deadline.
  • Use your own email and cellphone number (do not use someone else’s).
  • Double-check that all your documents are certified and legible.
  • Keep a copy of your submission confirmation for reference.

By following this guide, you can confidently apply for NSFAS funding and move one step closer to achieving your academic and career dreams—without the burden of immediate financial pressure.

If you need a printable checklist or PDF version of this guide, let me know and I’ll create one for you.