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CPF WithDrawal

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Strong Eagle
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CPF WithDrawal

Postby Strong Eagle » Sat, 25 Jul 2015 9:52 pm

I'm watching my CPF savings get hammered with exchange rate changes. What is the actual process to initiate at least a partial withdrawal for deposit into a Singapore bank account? Has someone actually done this?

The reason I am asking is that I had read comments from others here previously that suggested a partial withdrawal is possible without losing PR but from this CPF page, that doesn't seem to be the case.

https://mycpf.cpf.gov.sg/Members/Scheme ... s#Item1699

Unless, of course, you financial gurus with the crystal ball see an upturn in the near future.

http://www.xe.com/currencycharts/?from= ... SD&view=5Y

Thanks.

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ecureilx
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Re: RE: CPF WithDrawal

Postby ecureilx » Sun, 26 Jul 2015 4:16 pm

Strong Eagle wrote:I'm watching my CPF savings get hammered with exchange rate changes. What is the actual process to initiate at least a partial withdrawal for deposit into a Singapore bank account? Has someone actually done this?

The reason I am asking is that I had read comments from others here previously that suggested a partial withdrawal is possible without losing PR but from this CPF page, that doesn't seem to be the case.


From what I seen a few friends who gave up PR found out, no partial withdrawal is allowed, its all or nothing.

Partial withdrawal is another myth among 'expats ' ...

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Wd40
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Re: CPF WithDrawal

Postby Wd40 » Sun, 26 Jul 2015 8:14 pm

I read some analysts predicting SGD to hit 1.42 by mid next year. So about 5% depreciation a year. I think much of the US dollar upmove is already over. So if you have waited this long may be the worst is already over.

Currencies can't really be predicted so easily, for all you know US may develop some new problem and USD may stop rising and may actually start falling.

If SGD falls then SIBOR rises so some of your FX loss will get compensated by higher interest. Also there is a part of your cpf corpus that you can invest in unit trusts. See if you can choose funds that are linked to the USD so somehow benefit from sgd depreciation.

earthfriendly
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Re: CPF WithDrawal

Postby earthfriendly » Sun, 26 Jul 2015 10:52 pm

I do not know how diverse the investment options are for cpf. If you are going to invest in US with Sing $, you may want to look for a fund that is hedged that offers currency fluctuation protection.

BoroBoy
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Re: CPF WithDrawal

Postby BoroBoy » Mon, 27 Jul 2015 5:33 pm

I wonder what would be the cost of buying a 1y SGDUSD future to hedge your risk?


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