Query on property pledge for Min Sum

[kichialo]

My interpretation of the email from what i asked and the reply from CPF; is the illusion we just need to pledge $77,500 CPF with the other $77,500 via your property and be able to enjoy approx $1,200 a month payout. Subsequently upon our death, CPF will not ask back for the $77,500 pledged by your property upon the sale of that flat.

From what I know the property pledge does nothing to the payout at age 65. The payout will still be based on $77,500 amount of CPF which means a non-guaranteed amount about half of $1,200 a month.