What is Estimated Withdrawal Amount in CPF lingo ?

Khun Ying Pojaman

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The Estimated Withdrawal Amount is applicable to members who are past 55, and it's the sum of

(1) your ordinary account
(2) your special account
(3) some excess above your Medisave Minimum Sum


What is the significance of EWA ? The CPF site fails to explain.

Is this the amount that a retiree is entitled to withdraw lump sum ?

Does it mean that when you're past 55 and still working, whatever contributions that are made to your Ordinary A/C and Special A/C every month will be withdrawn once every year ?
 
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