Written Answer to PQ on CPF OSMA balances and amount withdrawn for housing

NOTICE PAPER NO. 1992 FOR THE SITTING ON 05 JULY 2023
QUESTION NO. 3078 FOR WRITTEN ANSWER

MP: Mr Chua Kheng Wee Louis

To ask the Minister for Manpower (a) what are the current median and average (i) CPF Ordinary Account, Special Account and Medisave Account balances; (b) what is the current total principal amount withdrawn for residential properties, broken down by age deciles respectively.

Answer:

1. The median and average CPF Ordinary Account, Special Account and MediSave Account balances, and median and average amounts withdrawn for residential property broken down by age bands as at December 2022 are shown in Table 1 below. As members aged 55 and above can make CPF withdrawals in cash from age 55 depending on their needs, the comparison between their CPF balances and amount withdrawn for housing would not be meaningful.

Table 1: Median and average CPF Ordinary Account, Special Account and MediSave Account balances and median and average amounts withdrawn for residential property broken down by age bands as at December 2022

Note: Data based on all CPF members and rounded off to the nearest thousand.