Repayment of CPF Funds when Co-owners Withdraw from Co-Ownership
- Intan Azura Mokhtar proposed reviewing the CPF policy requiring parents to repay CPF funds used for their children's HDB loans when children withdraw from co-ownership to buy another flat with a spouse or fiancé/fiancée.
- Tan Chuan-Jin explained that CPF funds must be refunded to maintain retirement adequacy, with a charge on the property ensuring proceeds from any sale are used to repay CPF principal and accrued interest.
- He noted that the refund requirement applies when lifting the charge on a property co-purchased with parents, and the child must repay the CPF funds via transfer, cash, or a loan to proceed.