FAQs on Closure of Special Account

Q1      My Special Account has been closed. How can I check my latest CPF account balances and the amounts transferred to my Retirement and Ordinary Accounts?

Q2     I am aged 55 and above. How much interest will I earn on the Special Account (SA) savings that are transferred to my Retirement and Ordinary Accounts when my SA is closed?

Q3     Am I losing interest because the Special Account (SA) closure took place in the middle, instead of at the end of the month?

Q4     Why does the amount transferred after the Special Account (SA) closure to the Ordinary Account (OA) not earn 4% interest from 1-19 January 2025?

Q5    I received an email/SMS/hard copy notification on the closure of my Special Account. Is this legitimate?

Q6     How does CPF Board determine the amount of Special Account (SA) savings to be transferred to my Retirement Account and Ordinary Account when my SA is closed?

Q7     I am aged 55 and above. What will happen when my Special Account is closed and what is the rationale for doing so?

Q8     I have set aside my Full Retirement Sum with a mixture of property and cash. With the closure of Special Account (SA), which account will my SA savings be transferred to?

Q9     If I am aged 55 and above, when will my Special Account be closed?

Q10    Will I be notified about the closure of my Special Account?

Q11    Once I set aside my Full Retirement Sum, my Special Account savings will be transferred to the Ordinary Account which pays lower interest. What can I do to continue earning the interest rate that the Special Account pays?

Q12    Will the closure of my Special Account affect how much I can withdraw from my CPF?

Q13    Can I choose to transfer more savings from the Special Account to the Ordinary Account since I am still servicing my housing loan/education loan etc.?

Q14    With the closure of the Special Account for CPF members aged 55 and above, which account will my CPF contributions be allocated to?

Q15    Does the closure of my Special Account affect the retirement sum that I need to set aside?

Q16    How does the closure of Special Account affect my voluntary top-ups to my three CPF accounts?

Q17    How does the closure of my Special Account affect my eligibility for government support schemes such as the Matched Retirement Savings Scheme, Silver Housing Bonus and Lease Buyback Scheme?

Q18    I am aged 55 and above and under the Reduced Life Expectancy scheme. What will happen when my Special Account is closed and what is the rationale for doing so?

Q19    I am below age 55. How does the closure of Special Account affect me?