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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.
Mar 1, 2024 · What are the features of CPF Special Account? The CPF Special Account features the following: Savings will be for regular income after retirement and for investing in approved investment products. The latest list of approved investment products can be found here.
Build up your CPF savings by making voluntary contributions to all your three CPF accounts (Ordinary, Special and MediSave accounts).
Feb 17, 2024 · Savings from Special Accounts are transferred first, followed by funds from Ordinary Accounts. But from 2025, Special Accounts will be closed for those at least 55 years old.
Feb 21, 2024 · From 2025, the Retirement Account will no longer be a fourth CPF account, but will replace the Special Account. Each of our CPF accounts is meant for different purposes, and in this article, we look at the role that our Special Account plays.
3 days ago · Learn how to grow your retirement income by making cash top-ups or CPF transfers to your Special Account or Retirement 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. Interest rates are reviewed each quarter.
Feb 19, 2023 · Contributions to the CPF are made by both the employee and employer, with the goal of meeting future retirement needs. These contributions are allocated to three accounts: the Ordinary Account (OA), Special Account (SA), and MediSave Account. In this context, what is the CPF SA account and what is its purpose?
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 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...
