The CPF Special Account (SA) used to be one of the three main accounts where your Central Provident Fund savings were kept. It earned higher interest and was meant for retirement planning.
In early 2025 the Special Account was permanently closed for everyone aged 55 and above. This change remains in full effect throughout 2026 and directly affects how your retirement savings are held and grow.
Why the Special Account Was Closed
The government wanted to simplify CPF and make sure more money goes straight into retirement-focused accounts. By closing the SA, savings are now directed more clearly toward lifelong monthly payouts through CPF LIFE.
Where Did the Money Go?
When the SA closed in January 2025:
- Funds were first transferred to your Retirement Account (RA) to fill up the Full Retirement Sum (FRS)
- Any remaining balance moved to your Ordinary Account (OA), where it earns a lower 2.5% interest
This happened automatically for all members aged 55+ — no action was required.
Current Interest Rates (2026)
The Retirement Account (and MediSave) continue to earn the 4% floor rate — a very safe and attractive return. The Ordinary Account stays at 2.5%. Extra interest bonuses (up to +2%) still apply on lower balances for members 55 and above.
Impact on Your Monthly Payouts
More money now sits in the Retirement Account instead of the old SA. This usually means higher guaranteed monthly CPF LIFE payouts from age 65 onwards.
Voluntary Top-Ups Are Still Open
You can still make voluntary cash top-ups or CPF transfers into your Retirement Account. Top-ups earn up to 6% interest and qualify for tax relief (up to S$8,000 per year).
Quick Comparison: Before & After SA Closure (Aged 55+)
| Feature | Before Closure (pre-2025) | After Closure (2025–2026) |
|---|---|---|
| Special Account | Active, earned 4% | Closed |
| New CPF contributions | Split between SA & OA/RA | Go directly to RA or OA |
| Interest on excess savings | Up to 4% in SA | 2.5% in OA |
| Flexibility for withdrawals | Higher (from SA) | Lower (mostly from OA) |
| Focus of savings | Mix of flexibility & retirement | Stronger focus on lifelong income |
What Younger Members Should Know
If you are below age 55 your Special Account is still active and continues earning the 4% floor rate until you reach 55. The closure only affects those who have already turned 55.
The CPF Special Account closure in 2025–2026 simplified the system and channelled more savings into the Retirement Account for secure, lifelong income through CPF LIFE.
Log in to your CPF account at cpf.gov.sg today. Check where your funds were moved, review your projected monthly payout, and consider a voluntary top-up if you want even higher retirement income. Small steps today can make a big difference tomorrow!