Overall, cpf is a safer system than banks, because “immediate/frequent withdrawal unneeded”.

A 2025 cpf roadshow staff told me that so far the only scams occured via online withdrawal (after member reached 55). In-person theft is unheard of.

If you are between 55 and 65 and you don’t need some 100k for the rest of your life, why not lock it away in cpfRA forever? No one can withdraw. See lock up100k]cpf if no liquidity need

— protection: withdrawal lock .. If you are a CPF member aged 55+ and have no immediate plans to withdraw your CPF savings, you are encouraged to safeguard your CPF savings by activating the CPF Withdrawal Lock (MoneyLock) to disable online CPF withdrawals. You can do so via the CPF account settings after logging on to the CPF website using your Singpass.

When you need to withdraw your CPF, you can enable online withdrawals again via the CPF account settings. For your security, this will be subject to Singpass Face Verification and a 12-hour cooling period. Members who do not wish to enable online withdrawals again can withdraw in-person at CPF Service Centres.

— protection: daily withdrawal limit .. CPF Board has also introduced a default Daily Withdrawal Limit of $2,000 for all members aged 55 or older, as part of a suite of anti-scam measures.

Members can adjust this limit via the CPF account settings. All limit increases are subject to Singpass Face Verification and a 12-hour cooling period.