Partial Withdrawal
Members over 47 years have the option to withdraw savings from their Medisave and Investment accounts, which together equal 50% of their total savings.
If you have any outstanding loans with VNPF, these must be paid before any withdrawal, otherwise these accounts will not have credit available to guarantee your existing loans.
The VNPF Act deliberately protects your Retirement (50%) savings so that members still have savings when they reach retirement age at 55. Therefore if you withdraw from your MediSave and Investment accounts, there will not be any credit left to use as a guarantee for future loans until more contributions are made.
Age 47 partial withdrawal criteria:
If you believe you are eligible to make a partial withdrawal under the Age 47 policy, you must obtain an Eligibility Statement from VNPF to see what your entitlements are and then submit a Partial Withdrawal Application Form to any VNPF branch or send by email to [email protected]
You can download the Partial Withdrawal Application Form here or visit any VNPF branch.
If you have any outstanding loans with VNPF, these must be paid before any withdrawal, otherwise these accounts will not have credit available to guarantee your existing loans.
The VNPF Act deliberately protects your Retirement (50%) savings so that members still have savings when they reach retirement age at 55. Therefore if you withdraw from your MediSave and Investment accounts, there will not be any credit left to use as a guarantee for future loans until more contributions are made.
Age 47 partial withdrawal criteria:
- You are aged 47-54 years
- You have no outstanding loans with VNPF
- Any existing Student Education Support Scheme (SESS) loan must not be greater than 50% of your savings
If you believe you are eligible to make a partial withdrawal under the Age 47 policy, you must obtain an Eligibility Statement from VNPF to see what your entitlements are and then submit a Partial Withdrawal Application Form to any VNPF branch or send by email to [email protected]
You can download the Partial Withdrawal Application Form here or visit any VNPF branch.