Post #1458

Do you know someone who is aged 55 or above? Let them know that their Special Account (SA) has been closed since 19 Jan 2025. Their SA savings have been transferred to their Retirement Account (RA), up to their cohort’s Full Retirement Sum (FRS), where they will continue to earn the long-term interest rate from Jan 2025 onwards. If they’ve already set aside their FRS, any remaining SA savings have been transferred to their Ordinary Account (OA) where they will have the flexibility to withdraw them when needed. 💰 If they would like to continue earning the higher interest rate of 4% per annum and enjoy higher retirement payouts, they can transfer their OA savings to their RA up to the current year’s Enhanced Retirement Sum (ERS). Do note that this transfer is irreversible and can be made anytime. Learn more about the SA closure here 👉cpf.gov.sg/PressReleaseTG Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.