The CPF Special Accounts (SA) of members aged 55 and above closed on 19 January 2025. About 1.4 million members were affected at the time. If you turn 55 after that date, your SA closes on your 55th birthday. The change did not abolish the SA for people below 55.
Your SA savings do not disappear. CPF moves them into your Retirement Account (RA) up to your applicable Full Retirement Sum (FRS); any SA savings left over move into your Ordinary Account (OA). For members turning 55 in 2026, the FRS is S$220,400. The account holding the money then determines its interest rate and how readily you can use it.
CPF SA closure at a glance
| Where savings go after SA closes | 2026 base interest rate | Access from 55 | Main role |
|---|---|---|---|
| SA savings needed for FRS → RA | 4% a year | Set aside for retirement payouts; not withdrawable on demand | Future retirement income |
| Excess SA savings → OA | 2.5% a year | Potentially withdrawable, subject to CPF rules | Flexible CPF savings |
| Voluntary OA → RA transfer | 4% a year | Irreversible; committed to retirement payouts | Increase future retirement income |
Sources: CPF Board on SA closure, 2026 retirement sums and October to December 2026 interest rates, checked 27 September 2026. Withdrawal and transfer eligibility depend on your account details.
Why did CPF close the Special Account at 55?
Before 2025, some members over 55 could keep excess savings in SA after setting aside their FRS. Those savings could remain relatively accessible while earning the SA's long-term interest rate. CPF Board's stated policy is to align rates with the purpose of each account: savings committed to long-term retirement income earn the long-term rate; savings that can be withdrawn on demand earn the short-term rate.
After the change, RA holds the long-term retirement portion and OA holds excess savings with greater flexibility. CPF also raised the Enhanced Retirement Sum (ERS) from three to four times the Basic Retirement Sum (BRS) in 2025. That expanded the room for members aged 55 and above who choose to transfer more savings into RA for higher future payouts. The transfer is voluntary and irreversible.
| Feature | Before SA closure | From the 2025 change |
|---|---|---|
| SA for members over 55 | Remained open | Closes at 55 |
| Savings needed for FRS | SA then OA savings went to RA | Same order of transfer |
| SA balance above FRS | Could remain in SA | Moves to OA |
| Account for additional long-term retirement savings after 55 | SA or RA, subject to rules | RA, through eligible top-ups or transfers |
| Account for more accessible excess savings | OA and some SA balances | OA |
The closure changed the location and flexibility of excess savings. It did not remove the long-term CPF rate from savings that enter RA.
What happens to your SA when you turn 55?
The RA is created automatically. CPF then transfers eligible SA savings into it first, followed by OA savings if SA alone does not meet your cohort FRS. Once the necessary amount has been moved, remaining SA savings go to OA and SA closes. Your MediSave Account remains separate.
The cohort FRS is the amount for the year you turn 55. It is not replaced by later increases for younger members. Property and CPF Investment Scheme (CPFIS) holdings can affect an individual's actual position, so the examples below assume straightforward cash balances and no housing reservation.
Example 1: SA is below the 2026 FRS
Suppose you turn 55 in 2026 with S$150,000 in SA and S$120,000 in OA. CPF uses the S$150,000 SA first, then S$70,400 OA, to place S$220,400 in RA. The remaining S$49,600 stays in OA. SA closes.
S$150,000 SA + S$70,400 OA → S$220,400 RA
Example 2: SA exactly meets the FRS
With S$220,400 in SA and S$100,000 in OA, the SA funds RA in full. OA remains S$100,000, subject to any other CPF uses or adjustments. SA closes without an excess balance to transfer.
Example 3: SA exceeds the FRS
With S$300,000 in SA and S$100,000 in OA, CPF moves S$220,400 into RA. The remaining S$79,600 SA balance moves to OA, raising the illustrated OA balance to S$179,600. SA then closes.
These examples show the account flow, not a personalised withdrawal entitlement. Check your CPF Retirement Dashboard for the actual transfer and withdrawal figures.
BRS, FRS and ERS after the closure
The three CPF retirement sums have different jobs. BRS is a reference for basic retirement needs excluding rent. FRS is the amount CPF sets aside in RA at 55 where available, using SA before OA. ERS is the ceiling for eligible voluntary RA top-ups by members aged 55 and above. CPF does not automatically move savings up to ERS when SA closes.
| Retirement sum for a member turning 55 in 2026 | Amount | Estimated monthly CPF LIFE payout from 65 |
|---|---|---|
| Basic Retirement Sum (BRS) | S$110,200 | S$950 |
| Full Retirement Sum (FRS) | S$220,400 | S$1,780 |
| Enhanced Retirement Sum (ERS) | S$440,800 | S$3,440 |
Source: CPF Board 2026 retirement sums, checked 27 September 2026. Payouts are estimates for a male member turning 55 in 2026, on the CPF LIFE Standard Plan starting at 65, under CPF's stated assumptions. Actual payouts differ.
Your 2026 BRS and FRS remain fixed after you turn 55. The top-up ceiling works differently: it is the prevailing ERS. It is S$440,800 in 2026 and S$456,400 in 2027. An eligible member already over 55 may get new room to add to RA when the ERS increases.
How does SA closure change CPF interest?
For 1 October to 31 December 2026, CPF has published a 2.5% annual base rate for OA and 4% for RA, MA and the SA of members below 55. The 4% floor for SA, MA and RA has been extended through 31 December 2027. CPF reviews rates under its interest framework.
An excess SA balance that moves to OA therefore earns the OA rate from the month of transfer, while the amount transferred to RA earns the RA rate for that month, subject to CPF's monthly interest rules. CPF Board explains that interest already earned before SA closes is still credited; closure does not erase it. The comparison below applies each base rate to an unchanged balance for a full year; it excludes extra CPF interest, monthly balance changes and future rate changes.
| Excess amount moved from SA to OA | One year at 4% | One year at 2.5% | Difference |
|---|---|---|---|
| S$50,000 | S$2,000 | S$1,250 | S$750 |
| S$100,000 | S$4,000 | S$2,500 | S$1,500 |
| S$200,000 | S$8,000 | S$5,000 | S$3,000 |
Members aged 55 and above also earn an extra 2 percentage points on the first S$30,000 of combined CPF balances and 1 point on the next S$30,000. No more than S$20,000 from OA counts towards the extra-interest calculation. Eligible RA savings can thus earn up to 6% on part of the balance. That is not a 6% rate on an entire RA.
Your choices for excess savings now in OA
The options differ in access, CPF interest and investment risk. There is no single route that follows automatically from SA closure.
| Choice | What happens | Main trade-off |
|---|---|---|
| Leave eligible savings in OA | Earn the OA rate while money remains within CPF | More flexibility; lower base rate than RA in late 2026 |
| Transfer OA savings to RA | Earn the RA rate and increase savings for future payouts, up to prevailing ERS | Transfer is irreversible; less access |
| Invest eligible OA savings under CPFIS-OA | Invest through CPF's approved scheme | Returns can be below OA interest and capital can fall |
| Withdraw eligible OA savings | Use money outside CPF | Lose CPF interest on the amount withdrawn |
Keep the money in OA
OA continues to earn the prevailing OA rate. It can also support eligible housing payments. If you have set aside FRS, eligible excess OA savings are generally withdrawable from age 55, so leaving them in OA preserves an option to withdraw later. You need not take everything out immediately.
Move eligible OA savings into RA
Members aged 55 and above may transfer OA savings into RA up to the prevailing ERS. That can raise future CPF LIFE payouts, and the transferred amount earns the RA base rate. The transfer cannot be reversed or withdrawn on demand. Compare expected housing payments, emergency cash needs and the value of future monthly income before committing an amount.
Invest under CPFIS-OA
Existing CPFIS-OA investments can generally remain invested after 55. To make new CPFIS-OA investments after 55, CPF says members must generally have set aside FRS, and the first S$20,000 of OA cannot be invested. CPF counts a qualifying combination of cash and property towards the FRS under its investment rules. Investments carry market risk and costs; compare their potential after-cost outcome with the OA interest forgone. CPFIS access is not the same as an unrestricted withdrawal of OA cash.
Withdraw savings that CPF marks eligible
SA closure does not make every dollar that touches OA instantly withdrawable. A member who has set aside FRS can generally withdraw excess OA savings. For the 2026 age-55 cohort, up to S$5,000 can be withdrawn even if FRS has not been met, subject to available savings. Property owners with a qualifying Singapore property and a lease lasting to at least age 95 may be able to withdraw RA savings above BRS under separate property rules.
The exact amount can also depend on previous CPF withdrawals, housing and investment details. Use the Retirement Dashboard for the account-specific figure.
What happens to existing CPFIS-SA investments?
You do not have to sell an existing CPFIS-SA investment merely because SA closes. It may be held until you choose to sell it or it matures. The investment does not remain in an open SA, however: after disposal, proceeds go to RA until the FRS is met; any excess goes to OA.
The old SA shielding outcome no longer works. That strategy sought to keep money in SA after 55 by investing SA savings temporarily before the RA was formed. With SA closed, proceeds from those legacy investments can no longer return to SA: they follow the RA-then-OA order above. Product maturity dates and market risk still matter for any existing holding.
If you have set aside FRS under CPF's rules, you may separately be eligible to withdraw qualifying CPFIS holdings from the CPF investment scheme. CPF's process can transfer holdings to personal accounts without forcing an immediate sale; check eligibility and any transfer costs first.
What happens to contributions after 55?
The policy does not stop working members from accumulating CPF savings. The contribution portion that would previously have gone to SA is allocated to RA until your cohort FRS has been set aside. Once FRS is met, that portion is channelled to OA. Ordinary and MediSave allocations continue under the applicable age schedule.
CPF increased total contribution rates for employees aged above 55 to 65 from 1 January 2026. For Singapore Citizens and permanent residents from their third year onwards earning more than S$750 a month, the 2026 total rate is 34% above age 55 to 60 and 25% above age 60 to 65. Lower wages and new PR status follow different schedules. The allocation to RA is still limited by the member's cohort FRS; voluntary RA top-ups are a separate choice governed by the prevailing ERS.
Does SA still exist for people below 55?
Yes. Members below 55 continue to have OA, SA and MA. Their SA still serves long-term retirement savings and earns the applicable SA interest rate. The post-55 structure begins when RA is created and SA closes on the 55th birthday. The policy is an age-based transition, not a blanket abolition of SA.
A practical check before your SA closes
- Check your 55th-birthday year and its cohort BRS and FRS.
- Compare projected SA and OA cash balances to estimate how RA could be funded.
- Review existing CPFIS-SA investments separately; note where their future proceeds will go.
- Check housing payments and the OA balance you may need to keep available. If necessary, apply to reserve OA savings for housing before 55.
- Check the prevailing ERS and your actual RA top-up room before transferring OA savings.
- Review the amount CPF marks withdrawable and your projected payouts in the Retirement Dashboard.
Invest your SRS with StashAway
Your SA closure changes where your CPF savings sit at 55. SRS gives you a separate way to build retirement savings: eligible contributions can reduce taxable income, and investing the balance offers growth potential.
StashAway is currently the only platform that lets you use SRS funds to buy US-listed and UCITS ETFs, including a US-listed ETF tracking the S&P 500 through ETF Explorer. Choose investments that fit your withdrawal plans and risk tolerance. Returns are not guaranteed, and SRS withdrawal rules still apply.
Frequently asked questions
When did CPF close the Special Account?
CPF closed the SA of members already aged 55 and above on 19 January 2025. For anyone turning 55 later, the SA closes on their 55th birthday.
Where does my SA money go at 55?
CPF transfers SA savings into RA first, up to your cohort FRS. Any SA savings remaining after the required retirement transfer move to OA. OA savings can also be used to fill an RA shortfall.
Do I lose money when my SA closes?
No. Savings are reallocated to RA and/or OA. The interest rate and access rules then depend on which account holds the savings.
Will excess SA money still earn 4% after moving to OA?
It earns the prevailing OA rate after transfer. That base rate is 2.5% a year for October to December 2026, compared with 4% for RA. Eligible members aged 55 and above may also receive extra CPF interest on part of their combined balances.
Can I move the money from OA back into RA?
If eligible, you may transfer OA savings into RA up to the prevailing ERS, S$440,800 in 2026. The transfer is irreversible and the money is committed to retirement payouts.
Does SA closure mean I can withdraw all the excess at 55?
No. Withdrawal depends on your retirement sum and CPF's assessment. If FRS has been set aside, excess OA savings are generally withdrawable; if not, members in the 2026 age-55 cohort can still withdraw up to S$5,000 from available CPF savings. Qualifying property can change the amount.
Do existing CPFIS-SA investments have to be sold?
No. They can stay invested until sale or maturity. Proceeds then go to RA until FRS is met, and any remainder goes to OA. They do not return to SA.
Does the Special Account still exist if I am under 55?
Yes. SA continues for members below 55 and closes when they turn 55, when RA is created.
What the closure means for your savings
Savings needed for retirement move from SA to RA and continue earning the long-term CPF rate. Excess SA savings move to OA, where they earn the OA rate and may offer more flexibility. Moving eligible OA savings into RA can increase future payouts, but that transfer cannot be reversed; check your own balances and payout estimate before choosing an amount.
