CPF Shielding Strategy: Navigating the Impact of CPF SA Account Closure at 55 - Singapore
CPF SA Account Closure at 55: Impact and Options for Singaporeans CPF SA Account Closure at 55: Impact and Options for Singaporeans The Singapore government recently announced that the Central Provident Fund (CPF) Special Account (SA) will be closed for members who are 55 and above. This change is set to take place in 2025. The SA savings will be transferred to the Retirement Account (RA) or Ordinary Account (OA). The Impact of CPF SA Account Closure This move is expected to "tidy up" the system and also shut down a little-used "shielding" hack that allowed some CPF members to earn a higher interest. The "shielding" hack refers to a strategy where CPF members transfer their OA savings to their SA to earn a higher interest rate before they turn 55. Options After CPF SA Account Closure With the closure of the SA, CPF contributions that go to the SA currently, as well as any increase in CPF contributions a