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Apr 5, 2024 · Following the announcement that the CPF Special Account (SA) will be closed from early 2025 for those aged 55 & above, some CPF members, particularly those who have substantial SA savings after turning age 55 are reviewing their retirement plans.
Feb 21, 2024 · Our Special Account is one of four CPF accounts we will have. From the moment we are born, we start of with three CPF accounts – Ordinary Account (OA), Special Account (SA) and MediSave Account (MA). When we turn 55, a Retirement Account (RA) will be opened.
Mar 1, 2024 · CPF Funds are split into the following accounts: Ordinary Account (OA) – This is meant for housing, insurance, investment and education Special Account (SA) – This is meant for old age and investment in retirement-related financial products
Jun 24, 2024 · With the closure of Special Account (SA), CPF contributions that go to the SA currently, as well as any increase in CPF contributions allocated to SA from 1 January 2025, will be fully allocated to the member’s Retirement Account (RA) instead, up to the Full Retirement Sum (FRS), to boost retirement payouts.
Today, members aged 55 and above have two CPF accounts that hold savings intended for retirement payouts: the Special Account (SA) and the Retirement Account (RA). Both SA and RA savings earn the same long-term interest rate. However, some SA savings can be withdrawn on demand from age 55.
Feb 17, 2024 · CPF Board said on Saturday that more than 99 per cent of members aged 55 and older will be able to transfer all their Special Account savings to their Retirement Accounts when the Enhanced ...
Feb 21, 2024 · People who may be affected are those who invest their SA savings through the CPF Investment Scheme to prevent them from being transferred to the RA at 55 – a practice known as Special Account...
Jun 17, 2024 · In the latest round of CPF interest rates review, our Special, MediSave and Retirement Accounts (collectively termed SMRA) will earn 4.08% from July to September 2024.
Feb 22, 2024 · SINGAPORE: The closure of Central Provident Fund (CPF) Special Accounts for those aged 55 and older means that members will no longer be able to earn higher interest rates on savings...
Feb 16, 2024 · SINGAPORE: Central Provident Fund (CPF) members aged at least 55 will no longer have a Special Account from 2025 onwards, but they will be able to put more money into their Retirement Accounts,...
