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I am 55. Can I transfer my Ordinary Account savings to my Special Account to earn a higher interest rate?

No, you will not be able to make CPF transfers to your Special Account (SA) after you turn 55. The Retirement Account (RA) was created for your retirement needs when you turned 55. Hence, top-ups to boost payouts will have to be made to the RA instead of SA.

If you wish to earn a higher interest rate, you can transfer your Ordinary Account savings to your RA. This will also allow you to receive higher payouts in retirement.