When you sell your investments, the sales proceeds will automatically be credited into your CPF Investment Account. The monies will remain there, unless you instruct your agent bank to transfer the amount into your OA. Do cater processing time required for the settlement of each application (applicable to both the purchase and sale of investments). You can check with the respective service / product providers directly for the processing time required.

Your agent bank will also automatically transfer the cash balance held in your CPF Investment Account to your OA (at the end of the month*) if your Investment Account has been inactive (i.e. if there had been no investment transactions) for two consecutive months.

* The monies will be transferred on the third last working day of the month. In the event that the third last working day falls on a Saturday, the transfer will take place on the second last working day of the month.

When you sell your investments, the sales proceeds will automatically be credited into your SA. Do cater processing time required for the settlement of each application (applicable to both the purchase and sale of investments). You can check with the respective service / product providers directly for the processing time required.

We know that some members use ‘SA Shielding’ (i.e. investing their SA savings shortly before age 55 and liquidating it after age 55), to retain more CPF savings in the SA and enjoy its attractive interest rates. 

The use of ‘SA Shielding’ comes with costs and investment risks – there may be transaction fees involved in using CPF for investment and you may lose a portion of the amount invested. 

A better option for members who want to enjoy the attractive CPF interest rates is to top-up their Retirement Account up to the Enhanced Retirement Sum through the Retirement Sum Topping-Up Scheme instead.

We will continue to monitor the ‘SA Shielding’ trend closely and take appropriate action if necessary. Financial advisers and insurance brokers who promote ‘SA Shielding’ without highlighting the costs and investment risks may be guilty of mis-selling, and should be reported to the Monetary Authority of Singapore.