Maximum CPF daily withdrawal limit to be lowered from S$200k to S$50k as anti-scam measure in Singapore

CPFB advised members who intend to make large withdrawals to plan in advance, and those who intend to withdraw large amounts to do so online over multiple days. - Photo: Lianhe Zaobao file

SINGAPORE: From Sept 25, the maximum amount of CPF money that can be withdrawn per day will be lowered to protect people from scams.

The Central Provident Fund Board (CPFB) on Thursday (Aug 22) said it will reduce the daily withdrawal limit from S$200,000 to S$50,000, as an anti-scam measure.