- You can use your Ordinary Account balance to pay for the quarterly agent banks charges, even if your Ordinary Account balance is below $20,000. The restriction on the use of the first $20,000 in Ordinary Account for CPF Investment Scheme – Ordinary Account only applies to new investments, including payments for recurring single premiums (for insurance) and regular savings plans (for unit trusts).
Can I continue to use my Ordinary Account savings to service my regular premium insurance bought before 1 January 2001, even if my balance falls below $20,000?
You can continue to service the future premiums using your Ordinary Account savings, even if your balance falls below $20,000. This applies to you even after age 55 as long as you have set aside the Full Retirement Sum or the Basic Retirement Sum with sufficient property charge/pledge in the Retirement Account.How will the restriction on investments for the first $20,000 in Ordinary Account and the first $40,000 in Special Account affect me?
The first $60,000 of your combined CPF accounts earns an extra 1% interest. To enable members to earn extra interest, only monies in excess of $20,000 in your Ordinary Account (OA) and $40,000 in your Special Account (SA) can be invested.However, you can continue to service your agent bank fees and regular premium insurance policies (excludes recurring single premium insurance policies or regular savings plans for unit trusts) even if your OA balance falls below $20,000.If you have already made investments using your OA or SA balances, you are not required to sell these investments.Where can I check the number of discounted Singtel shares in my CPF account?
You can login to my cpf Online Services with your Singpass and check the "Discounted Singtel shares" section in the Investment dashboard.
I am aged 55 and above. What happens to my CPF Investment Scheme-Special Account after my Special Account is closed?
If you are aged 55 and above, you can continue to hold your existing CPF Investment Scheme-Special Account (CPFIS-SA) investments until you decide to sell them or until they mature. Upon sale or maturity, your proceeds would be paid to your Retirement Account (RA) up to your Full Retirement Sum (FRS), with any remaining balance paid to your Ordinary Account (OA).
Before the closure of SA, CPF savings in SA can be used to invest after setting aside the FRS in your Retirement Account. With the closure of SA, your SA savings would be transferred to the OA once you have set aside the FRS in your RA and you can use them to invest under CPF Investment Scheme-Ordinary Account (CPFIS-OA).
I am currently holding investments under the CPF Investment Scheme-Special Account (CPFIS-SA). Do I need to do anything?
You do not need to take any immediate action. You can continue to hold your existing CPFIS-SA investments until you decide to sell them or until they mature.
You can view your SA Portfolio by logging in to my cpf digital services with your Singpass > Select my cpf > My dashboards > Investment.
Where will proceeds from my CPF Investment Scheme-Special Account (CPFIS-SA) investments go to after my Special Account has been closed?
After your Special Account has been closed, the proceeds from your CPFIS-SA investments will be paid to your Retirement Account up to your Full Retirement Sum, with any remaining balance paid to your Ordinary Account.
What is the CPF Investment Scheme (CPFIS)?
The CPF Investment Scheme (CPFIS) comprises the CPF Investment Scheme-Ordinary Account (CPFIS-OA) and CPF Investment Scheme-Special Account (CPFIS-SA). The scheme gives CPF members an option to invest their CPF savings, while meeting the long term objective of financial security in their old age.Important Notes:
Members are advised to exercise prudence when they invest their CPF savings under the CPFIS. No one can guarantee that investments will always be profitable or that investment products included under CPFIS will always earn a profit. The CPF Board does not specifically endorse any product providers or investment products included under the CPFIS. All investments come with risk and you may lose all or a portion of the amount invested.
CPF members have to decide for themselves how to invest their savings and what risks to accept. If members are not confident of investing on their own or do not wish to risk their savings, they can always keep their money with the CPF Board and earn the risk-free interest.What is the objective of CPF Investment Scheme (CPFIS)?
The Central Provident Fund (CPF) offers a comprehensive range of schemes and services. The CPF Investment Scheme (CPFIS) gives you the opportunity to invest your CPF savings in a wide range of investments to enhance your retirement nest egg. Investment objectives and goals differ from person to person. The CPFIS reflects this by making different types of investments available to CPF members. Under the CPFIS, you can invest your CPF savings in shares and loan stocks, unit trusts, government bonds, statutory board bonds, bank deposits, fund management accounts, endowment insurance policies, investment-linked insurance policies, exchange traded funds and gold.
However, the CPF Board does not specifically endorse any product providers or investment products included under the CPFIS. All investments come with risk and you may lose all or a portion of the amount invested. If you are not confident of investing on your own, you may consider leaving your money in your CPF accounts, which earns risk-free interest.What enhancements relating to CPF Investment Scheme (CPFIS) were announced during the FY2018 Committee of Supply Debate?
Second Minister for Manpower Josephine Teo announced the following enhancements to the CPF Investment Scheme (CPFIS):
- Introduction of Self-Awareness Questionnaire (SAQ) (PDF, 0.6MB)
- Removal of sales charge for products offered under CPFIS (PDF, 0.6MB)
- Reduction of maximum wrap fee chargeable on CPFIS investments (PDF, 0.5MB)
Please refer to our webpage for more details of the enhancements.
What are the service standards for processing applications relating to CPF Investment Scheme (CPFIS)?
Please refer to the table for our service standards for processing applications relating to CPF Investment Scheme (CPFIS).
Service Normal Processing Time Withdraw CPF investments Within 3 working days Update Stock / Gold Limits Within 2 working days Transfer CPFIS Sale Proceeds (Division of CPF-related Matrimonial Assets) Within 15 working daysWhich digital advisors can give advice to CPFIS members?
EndowUs and MoneyOwl are the two digital advisors currently allowed to give advisory services. However, MoneyOwl will stop their operations by December 2023. Please refer to their press release on 31 Aug 2023.
What has happened to MoneyOwl?
MoneyOwl has announced that they will stop their operations by December 2023 and will transfer their business to iFast, which already holds the records of all their clients. You can find more details by reading MoneyOwl's press release dated 31 Aug 2023.
What happens to my investments made through MoneyOwl?
Your investments made through MoneyOwl will stay with iFast. Even with the transfer of business from MoneyOwl to iFast from 25 Oct 2023, you can access and trade using the iFast platform instead of MoneyOwl. They will be reaching out to you with more information about the transfer.
What is risk-return tradeoff?
All investments are subject to risk. Risk refers to the possibility that an investment could lose value or not gain any additional value because of swings in the financial markets. All investments have a risk-return tradeoff. Historically, lower-risk investments — like cash equivalent (e.g., fixed deposit) investments — have typically offered lower potential for long-term growth and investment return. Higher-risk investments — like stock investments — have typically offered greater potential for long-term growth and investment return. By understanding the risk associated with various investment options, you can choose investments that best match your risk tolerance and personal circumstances.