15 questions
Creation of Retirement Account and closure of Special Account at age 55
What is the Retirement Account for?
What is the closure of Special Account for members aged 55 and above about?
In setting aside the Full Retirement Sum in my Retirement Account, why are my Special Account savings transferred before my Ordinary Account savings?
Do I need to top up my Retirement Account and will I receive monthly payouts if I am unable to set aside my Full Retirement Sum?
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.?
I belong to the generation born before 1958 and can withdraw a portion of my Special Account (SA) savings even though I have not set aside my Full Retirement Sum. Will I continue to be able to withdraw after my SA is closed?
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?
Need more help?
Get in touch