When will the top-ups received in my CPF Special/Retirement Account start to earn interest?
If you receive a cash top-up this month, it will start earning interest in the next month.
For CPF transfers of your existing CPF savings from your account to yourself or your loved ones, the transferred savings will start earning interest in the receiving account from the month of transfer. However, if the transferred savings are fresh injections (e.g. working contributions credited in the current month), it will start earning interest in the receiving account from the next month.
Illustration: $1000 is transferred in January from Ordinary Account (OA) to Special or Retirement Account (SA/RA) of the recipient (self or loved ones).
(A) If the $1,000 is existing OA savings (e.g. giver did not have new working contributions in January), it will start earning SA/RA interest in the recipient's SA/RA from January.
(B) If the $1,000 is January working contributions from OA savings, it will start earning SA/RA interest in the recipient's SA/RA from February.
This information is sourced from CPF
Related questions
How much interest will I earn on the Special Account (SA) savings that are transferred to my Retirement Account and Ordinary Account upon the closure of my SA when I turn 55?
My Special Account (SA) savings were transferred to the Ordinary Account (OA) after SA closure, as I have set aside the Full Retirement Sum. With the OA having lower interest, what can I do to earn the interest that the SA pays?
If I turn age 55 in the middle of the month, why do the Special Account savings transferred to my Ordinary Account not earn 4% interest from the start of the month to the day I turn age 55?
My Special Account (SA) will be closed when I turn age 55 in the middle of the year. If I have the Full Retirement Sum, where does interest earned on my SA (before SA closure) go? Do I lose any interest for the remaining months till the end of the year?
Need more help?
Get in touch