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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.
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.
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.
Boost your retirement savings with cash top-ups and CPF transfers. Make cash top-ups and CPF transfers to your own or loved ones’ Special or Retirement Account to benefit from compounding interest and receive higher monthly payouts in retirement. You can also enjoy tax relief on cash top-ups made.
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.
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.
Learn how to grow your retirement income by making cash top-ups or CPF transfers to your Special Account or Retirement Account.
1. CPF Investment Scheme (CPFIS) The CPF Investment Scheme (CPFIS) lets you invest your Ordinary Account (OA) and Special Account (SA) savings in a wide range of investments to enhance your retirement savings. 2. Special Discounted Shares (SDS) Scheme*.
If you wish to earn higher interest on your OA savings (which earns at least 2.5% interest* per annum) and boost your monthly payouts, you can make a CPF transfer to your RA (which earns at least 4% interest* per annum), up to the current Enhanced Retirement Sum.
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,...
