If I have $181,000 (the full retirement sum) in my special account, will I earn 4% on all my money? - Seedly
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Anonymous

Asked 3w ago

If I have $181,000 (the full retirement sum) in my special account, will I earn 4% on all my money?

What happens if my SA have more than that amount? Will I just earn 0 interest for the amounts exceeding the full retirement sum? Asking for my parents, who have no idea how all these works.

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Hariz Arthur Maloy
Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
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Top Contributor (May)

Level 10. Unicorn
Answered 3w ago

Hi Anon, all 181k receives 4% interest plus $600 (1% extra for first 60k), and the interest stays in the Special Account until age 55 when the FRS for that year is transferred to the Retirement Account where it'll continue to earn interest but will be then paid as CPF Life premium.

Balance SA above FRS at 55 will also continue earning base 4% interest but no bonus 1%.

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Question Poster

3w ago

Thank you! For the 181k, does it include money from the Ordinary Account, or is it 181k in SA alone?
Hariz Arthur Maloy
Hariz Arthur Maloy

3w ago

You mentioned 181k in SA. So it earns 4%. If some of that is in OA, then that amount will earn OA rates of 2.5%.

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