CPF Special Account closure: What is the impact?

A slew of changes to the Central Provident Fund (CPF) system announced at Budget 2024 including the closure of the Special Account (SA) for those aged 55 and above from 2025. READ MORE: https://str.sg/pqMJ

When the SA is closed, savings in that account will be transferred to the Retirement Account (RA), up to the Full Retirement Sum (FRS).

Any remaining SA funds will then be channelled to the Ordinary Account (OA).

Watch more videos from Budget 2024:
   • Singapore Budget 2024  

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