By MoneyBees
See where your Special Account savings go when it closes at 55, how much moves to the OA at 2.5% instead of 4%, the interest difference over the years and what you could move to the RA.
CPF creates your Retirement Account on your 55th birthday and moves your SA savings, then your OA savings, into it up to your Full Retirement Sum. Your SA is then closed and any SA savings left go to your Ordinary Account.
In January 2025. CPF closed the SAs of about 1.4 million members aged 55 and above on 19 Jan 2025. Members turning 55 since then have their SA closed at 55.
The OA rate, 2.5% a year, instead of the 4% it earned in the SA. That is 1.5% less a year on the amount moved.
Yes. You can transfer OA savings, including what came from your SA, to your Retirement Account up to the current year's Enhanced Retirement Sum. The RA earns the same rate as the SA did. The transfer cannot be reversed and the money then goes to your CPF LIFE payouts.
For members turning 55 in 2026 the Full Retirement Sum is S$220,400 and the Enhanced Retirement Sum is S$440,800. For 2027 they are S$228,200 and S$456,400. The Basic Retirement Sum is S$110,200 and S$114,100.
The share that used to go to the SA now goes to the RA, up to your cohort's Full Retirement Sum. Once your RA holds the Full Retirement Sum, it goes to your OA.
They were not sold. You can hold CPFIS-SA investments until you sell them or they mature. The proceeds then go to your RA up to the Full Retirement Sum and the rest to your OA.
CPF has extended the 4% floor on Special, MediSave and Retirement Account savings until 31 Dec 2027. The OA earns at least 2.5%, its legislated minimum.
Yes. From 55 you earn an extra 2% on the first S$30,000 and 1% on the next S$30,000 of your combined balances, counting the RA first and no more than S$20,000 of the OA. It replaces the extra 1% on S$60,000 you got below 55.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).