CPF approves appeal to use RA for HDB studio flat

January 31, 2014

TR Emeritus

Jan 31, 2014

http://www.tremeritus.com/2014/01/31/cpf-approves-appeal-to-use-ra-for-hdb-studio-flat/

[This letter was forwarded to TRE by Leong Sze Hian, who had given financial counselling to the writer. The writer wants to share his experience.]

My wife and I have finally bought our HDB Studio Apartment (SA) and already moved in last December. Thinking back one year ago when we were faced with so many problems to purchase this flat and have been so fortunate to receive the help of so many people after my story was shared on theonlinecitizen, until the completion of the sale.

In particular, I am very grateful to the stranger who came forward to lend me $25,000 without interest, which I shall be repaying by installments over 2 years.

In fact, a few weeks before the collection of keys, I made an attempt for appeal to use more CPF RA for the SA by sending an email to Mr Tan Juan-Jin, the acting Manpower Minister, and a week later – I received an email from his QM informing me that my case was under consideration.

I followed up by making many phone calls and email with the MOM/CPF staff but no confirmed answer was given. But after I have collected the keys by completing the sales – the MOM staff informed me through email that my appeal was approved, to use all of my wife’s RA fund plus the interest earned from my RA over these many years. Hence I saved $8,000 which HDB refunded me one week later.

Perhaps you could use my experience when advising others in similar situations.

In the coming Lunar Year of the Horse, may I wish you abundant joy, ‘every thing silky smooth’ and ‘dragon-horse spirit’.

Harry Chua

 

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About the Author

Leong
Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.