CPF Special Account

The CPF Special Account (SA) is a component of Singapore’s Central Provident Fund that earns a guaranteed minimum interest of 4% per annum. It is primarily set aside for retirement savings, and from January 2025, the SA is closed when a member turns 55 with balances transferred to the Retirement Account. This page is for informational purposes only and does not constitute financial advice.

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What Is the CPF Special Account (SA)?

The CPF Special Account (SA) is one of the three main accounts within Singapore’s Central Provident Fund system, alongside the Ordinary Account (OA) and MediSave Account (MA). Designed specifically for retirement savings, the SA earns a higher guaranteed interest rate than the OA and has significantly more restricted withdrawal conditions. For many Singapore workers, the SA is the core retirement nest egg that steadily compounds at 4% per annum on a tax-advantaged basis throughout their working years.

Important note as at 2026: From January 2025, the CPF SA is closed at age 55. Savings are transferred to the Retirement Account (RA) up to the applicable Retirement Sum, with any excess moved to the OA. This page covers how the SA works during the accumulation phase (pre-55). This page is for informational purposes only and does not constitute financial advice.

CPF SA Interest Rates (2026)

The CPF SA earns a minimum guaranteed interest rate of 4% per annum — significantly above the OA’s 2.5% floor. As at Q1 2026, the SA earns 4.08% p.a. (computed as the higher of 4% or the 12-month average yield of 10-year Singapore Government Securities plus 1%).

Additionally, the first S$60,000 of combined CPF balances earns an extra 1% bonus interest — with the SA portion capped at S$30,000 for this bonus. This means the effective yield on early SA balances can reach 5% p.a. — a rare guaranteed return. Use the CPF Investment Strategy guide to understand how to maximise SA compounding.

CPF SA Contribution Rates by Age

CPF contributions are made by both employer and employee as a percentage of monthly wages (capped at the Ordinary Wage ceiling of S$7,400 as at 2026). The total contribution is allocated across OA, SA, and MA in ratios that shift with age. For workers below 35, approximately 6% of total wages go to the SA; for workers 35–45, the SA allocation increases slightly before shifting more to MA with advancing age. CPF Board publishes the exact allocation tables — check their website directly as they are periodically revised.

CPF SA Investment Scheme (CPFIS-SA)

Under the CPF Investment Scheme (CPFIS-SA), eligible members can invest SA funds in approved instruments — but only after maintaining a minimum SA balance of S$40,000 (as at 2026). Approved instruments for CPFIS-SA are more restricted than for CPFIS-OA: Singapore Government Securities (SGS), certain unit trusts at a specified risk band, endowment and annuity policies, and fixed deposits with CPF-approved banks.

Given the SA’s guaranteed 4% return, the hurdle is high — you need confidence the investment will outperform 4% after fees. For most retail investors, leaving SA funds to compound at the guaranteed rate is the simpler and often better decision. See the CPF investment strategy guide for a detailed analysis, and model outcomes with the Retirement Planning Calculator.

What Happens to the CPF SA After Age 55?

From January 2025, the CPF SA is closed at age 55. CPF transfers your SA savings to the newly-created Retirement Account (RA) up to the Full Retirement Sum (FRS — S$213,000 for 2026). Any SA savings above the FRS move to your OA. After age 55, the RA earns the same 4% floor interest as the former SA. The CPF SA shielding strategy no longer applies for new planning. Learn more about the CPF LIFE annuity scheme that the RA funds at age 65.

CPF SA vs Ordinary Account vs MediSave Account

The three CPF accounts serve distinct purposes: the OA earns 2.5% and can be used for housing, education, and investment; the SA earns 4% and is ring-fenced for retirement; the MediSave Account earns 4% and is earmarked for healthcare expenses. The SA’s higher interest and restricted withdrawals make it the most powerful wealth-building account in the CPF system for retirement. Top up your SA (or RA after 55) via the CPF Retirement Sum Top-Up (RSTU) scheme for tax relief of up to S$16,000 per year. Combine with the SRS Tax Savings Calculator to model combined CPF + SRS tax optimisation.

Frequently Asked Questions — CPF Special Account

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