Your CPF accounts explained: OA, SA, MA and RA
Your CPF savings sit in up to four accounts, each with its own purpose. What they are for, what changes at 55, and how they turn into lifelong payouts.
The Central Provident Fund (CPF) is Singapore's compulsory savings scheme for citizens and permanent residents. Every month, you and your employer contribute a share of your wages, and the money is split between accounts that each have a different job. Knowing what each CPF account does helps you use CPF well, from buying a home to paying medical bills and retiring. This guide explains the Ordinary Account, Special Account, MediSave Account and Retirement Account, and how they change at 55.
How CPF contributions are split
For members aged 55 and below, the combined contribution is 37% of wages up to the CPF wage ceiling: 20% from the employee and 17% from the employer. The money is allocated across the Ordinary, Special and MediSave Accounts according to your age. Younger members have a larger share go to the Ordinary Account, while older members have more directed to retirement and healthcare. Read our guide to CPF changes in 2026 for the latest rates.
Ordinary Account (OA)
The OA is the most flexible account. It can be used to buy a home and repay a housing loan, pay for approved education, invest under the CPF Investment Scheme, and support certain insurance. Because many people use it for housing, it often has the largest balance for younger members. It earns a lower interest rate than the other accounts, currently 2.5% a year. Our guide to using CPF for housing explains the rules.
Special Account (SA)
The SA is for retirement and earns a higher interest rate, currently 4% a year, making it a powerful place for savings to compound. You cannot use it for housing. Members can top it up with cash, which can also qualify for tax relief, and members below 55 can transfer OA savings into it to earn the higher rate, though such transfers cannot be reversed.
MediSave Account (MA)
The MA pays for healthcare: hospital bills, approved outpatient treatments, and premiums for MediShield Life and Integrated Shield Plans. It earns the same higher rate as the SA. Our guide to MediShield Life and MediSave explains how it works.
What happens to your CPF at 55
When you turn 55, a Retirement Account (RA) is created. Savings from your SA, and from your OA if needed, are moved into it up to your retirement sum. Since January 2025, the Special Account is closed for members aged 55 and above: SA savings go into the RA up to the Full Retirement Sum, and any remainder moves to the OA. The RA earns the higher interest rate, and from 55 you can withdraw savings above your retirement sum. For members turning 55 in 2026, the Full Retirement Sum is S$220,400.
From savings to CPF LIFE payouts
From age 65, your RA savings provide monthly payouts through CPF LIFE, a national annuity that pays for as long as you live. How much you receive depends on how much is in your RA when payouts start: setting aside the Full or Enhanced Retirement Sum gives higher payouts than the Basic Sum. You can also delay payouts, up to age 70, to receive more each month. CPF LIFE offers different plans, such as a standard plan and an escalating plan whose payouts rise each year to help with inflation.
Making CPF work harder
Because the SA, MA and RA earn the higher rates, plus extra interest on the first part of your balances, small cash top-ups early in life can grow significantly by retirement. See the latest rates in our CPF interest rates guide, and how CPF affects your pay in our Singapore income tax and CPF calculator. For extra retirement savings with tax relief, consider the Supplementary Retirement Scheme.
Frequently asked questions
What can the CPF Ordinary Account be used for?
Housing, approved education, investments under the CPF Investment Scheme and certain insurance.
What happens to the Special Account at 55?
Since January 2025 it is closed for members aged 55 and above; savings move to the Retirement Account, with any remainder going to the OA.
When does CPF LIFE start paying?
From age 65, with the option to defer up to age 70 for higher payouts.
Sources
This article is general information, not financial advice.