Decision and Disbursement Duration of Withdrawal Applications for CPF Reduced Life Expectancy Scheme

Assoc Prof Jamus Jerome Lim asked the Minister for Manpower what is the average time required for (i) a final decision and (ii) disbursement after approval, for applications to withdraw Central Provident Fund (CPF) savings under the CPF reduced life expectancy scheme.

Upon receipt of a member's application for withdrawal under the Reduced Life Expectancy scheme and the completed Medical Assessment Report from a medical institution, the Central Provident Fund (CPF) Board will review the medical report and generally inform the member of the outcome or provide a status update1 within 14 working days. For more complex cases, for example, where there is a need to clarify the member's medical condition with the relevant medical institution, the processing time may be longer. Upon approval of the application, the CPF savings will be disbursed to the member's bank account within three working days.

The CPF Board is committed to process these applications expediently to ensure members receive timely financial support and is constantly reviewing our processes to better support members. For example, applications from members certified to have terminal illness or with advanced-stage medical conditions are currently expedited.