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?

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If you wish to earn higher interest and receive higher retirement payouts, you may transfer your Special Account (SA) savings that were channelled to the Ordinary Account (OA) due to the closure of SA, to the Retirement Account (RA), up to the prevailing Enhanced Retirement Sum (ERS). The RA interest rate is the same as the SA.

If you are still receiving monthly employment contributions in your OA after age 55, consider setting up monthly recurring CPF transfers from your OA to your RA to earn higher interest on your CPF contributions.

Find out more about how you can make the transfer at cpf.gov.sg/rstu.

Please note that CPF transfers are irreversible and the savings are set aside to boost your monthly payouts in retirement. Thus, the amount transferred cannot be withdrawn for any other purpose such as housing, investment, or immediate needs after age 55. Read more on how the top-ups will be used.

You can also invest the OA savings in low-risk investments, such as T-bills and fixed deposits, under the CPF Investment Scheme.

Did you know? From 1 January 2025, the ERS will be raised to four times of the Basic Retirement Sum to allow members to save more in the RA and receive higher payouts, if they want.

With the change, the ERS in 2025 would be $426,000¹, up from $308,700 in 2024. Hence, if you are aged 55 and above in 2025, you can save up to $426,000 in the RA.

¹ This is the limit for the savings set aside in the RA (excluding amounts such as interest earned, government grants received, plus retirement withdrawals).

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?

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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.?

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?

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?

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