CLOSURE OF CPF SPECIAL ACCOUNT WEF JAN 2025
19/10/2024
CLOSURE OF CPF SPECIAL ACCOUNT WEF JAN 2025
The closure of the CPF Special Account (SA) for members aged 55 and above will take place from the second half of January 2025 onwards.
CPF members’ SA savings will then be transferred to their Retirement Account (RA), up to the Full Retirement Sum (FRS) for their cohort or age group. The remainder will be transferred to their Ordinary Account (OA) to earn interest of 2.5%.
If you have any query regarding your employee’s CPF contributions, payroll or income taxes, you may contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com!
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