| 1: | How do I apply to use my CPF savings under CPFIS-OA?
|
| | | Ans: You should first open a CPF Investment Account with a CPFIS-OA agent bank such as OCBC Bank.
If you wish to buy and sell shares, loan stocks, Exchange Traded Funds, Statutory Board bonds and Corporate bonds, you should also open a security trading account with a broking firm. Thereafter, you may trade through your broker.
For investment in fixed deposits, insurance products, fund management accounts, unit trusts, Singapore Government bonds, Statutory Board bonds and gold, you may approach the banks, insurance companies, fund management companies and bond dealers for assistance.
Once an investment transaction is made under your CPFIS-OA, OCBC Bank will liaise on your behalf with the CPF Board and various product providers such as broking firms, banks, insurance companies, fund management companies or bond dealers to settle your transaction. |
|
| 2: | What happens when I sell my investment bought under the CPFIS-OA? |
| | | Ans: When you sell your investment, the sales proceeds will be credited into your CPFIS-OA. We will automatically transfer the balance in your CPFIS-OA to your CPF Ordinary Account if the account has been inactive for more than two consecutive months.
You may initiate a refund to take place earlier, by instructing OCBC Bank to effect the refund through the following facilities:
- Any OCBC Bank branch
- OCBC Bank ATMs
- OCBC Phone Bank at 1800-363 3333 (This service is only available to existing OCBC PhoneBank users.) |
|
|
|
