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What is the Retirement Account? <p>On your 55th birthday, we will create a Retirement Account for you. Savings from your Special Account and Ordinary Account, up to the Full Retirement Sum (FRS), will be transferred to your Retirement Account to form your retirement sum which will provide you with monthly payouts. For higher monthly payouts, you can top up your Retirement Account up to the Enhanced Retirement Sum (ERS). If you own a property, you can choose to withdraw your Retirement Account savings above the Basic Retirement Sum (BRS). The FRS is two times the BRS, and the ERS is three times the BRS.</p><p> </p><p>If you are born in 1958 or after, and have not set aside your FRS in your Retirement Account, there will be another transfer of Special Account and Ordinary Account savings to your Retirement Account, up to your FRS, six months before you reach your payout eligibility age. This transfer sets aside more monies in your Retirement Account for your retirement, which will enable you to receive more monthly payouts under <a href="/Members/Schemes/schemes/retirement/cpf-life">CPF LIFE</a> and the Retirement Sum Scheme. We will write to affected members about three months before the transfer takes place. For more information on the transfer, please refer to “<a href="/Assets/members/Documents/FAQ_TransferSAandOAtoRA_priortopayouteligibilityage.pdf" target="_blank">Auto-transfer of Ordinary and Special Account savings upon reaching payout eligibility age</a>”(PDF, 0.3MB).</p>17401General Information on the retirement sum

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