Can I choose to transfer more savings from the Special Account to the Ordinary Account since I am still servicing my housing loan/education loan etc.?
When your Special Account (SA) is closed after your Retirement Account (RA) is created, any remaining savings in your SA that are withdrawable on demand will be transferred to your Ordinary Account (OA).
You may use the portion transferred to your OA for your housing loan/education loan (subject to applicable limits) or choose to withdraw them anytime for your immediate needs. You cannot choose to allocate more SA savings or your future RA contributions to your OA to service your housing/education loan, etc.
If you are using your OA savings to service your housing loan, you may apply to reserve your OA savings prior to turning 55 years old for housing payments beyond age 55. The amount reserved in your OA will not be transferred to your RA.
This information is sourced from CPF
Related questions
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?
Can I use my CPF savings to pay for my housing loan after I turn 55?
What happens to my CPF savings when I turn 55?
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?
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