CPF members may transfer their Ordinary Account (OA) savings to their Special Account (SA) to build up their savings for retirement. Your CPF savings earn a minimum risk-free interest of 2.5% guaranteed by the Government. The SA interest rate is pegged to the yield of the 10-year Singapore Government Security (10YSGS) plus 1%. In 2008 and 2009, your OA and SA savings earn a guaranteed minimum of 2.5% and 4% interest respectively. In addition, the first $60,000 of your combined CPF balances, with up to $20,000 from your OA, earns an extra 1% interest. Therefore, if you do not intend to use your OA for housing, you may like to consider transferring the savings from your OA to SA for higher interest. Click here for more information on CPF interest rates.

However, the total savings in your SA (inclusive of the amount withdrawn under the CPF Investment Scheme - Special Account) should not exceed the prevailing CPF Minimum Sum after the transfer. The CPF Minimum Sum from 1 July 2007 to 30 June 2008 was $99,600, whilst from 1 July 2008 to 30 June 2009 it is $106,000. It will be increased to reach $120,000 (in 2003 dollars) in 2013. Those who have reached the prevailing CPF Minimum Sum in their SA are not eligible to make a transfer.

Members are advised to plan the use of their CPF carefully before making the transfer from OA to SA. This transaction is irreversible.
Eligibility
1.		Am I eligible to make the transfer?
2.		Why are members aged 55 and above not eligible to participate?
Transfer of Funds
3.		What is the maximum amount I can transfer from my Ordinary Account to my Special Account?
4.		How is the limit derived?
5.		If I have the prevailing CPF Minimum Sum in my Special Account after the transfer, will my future CPF contributions be credited to my Special Account?
6.		Can my loved ones transfer their CPF savings to my Special Account?
Irreversible Transfer
7.		Why is the transfer irreversible?
How to Apply
8.		How do I apply to the Board to make the transfer?
Eligibility
1.			Am I eligible to make the transfer?
			To transfer your savings from OA to SA, you must:
			be below 55 years old, and have less than the prevailing Minimum Sum in your SA, which includes savings withdrawn under the CPF Investment Scheme – Special Account (CPFIS–SA).
2.			Why are members aged 55 and above not eligible to participate?
			Members aged 55 and above do not need to maintain a SA. When members turn 55, a Retirement Account (RA) is created for them and their CPF Minimum Sum is placed in this account. Members who did not set aside the full Minimum Sum are allowed to transfer their OA savings to top up their RA. Savings in the RA enjoy the same interest rate as the SA.
Transfer of funds
3.			What is the maximum amount I can transfer from my Ordinary Account to my Special Account?
			Example 1:
			Date   Transaction   Transaction Amount   Balance in Special Account 1 Jul 2008       $45,000 1 Sep 2008   Withdrawal under CPFIS-SA   - $25,000   $20,000
			Although the cash balance in your SA is $20,000, you are only allowed to transfer up to $61,000 ($106,000* - $20,000 - $25,000) from your OA to your SA.
			Example 2:
			Date   Transaction   Transaction Amount   Balance in Special Account 1 Jul 2008       $40,000 1 Sep 2008   Transfer to Special Account     $66,000   $106,000* 1 Dec 2008   Withdrawal under CPFIS-SA   - $106,000   $0
			Even though you do not have any cash balance in your SA as at 1 Dec 2008, you are still not allowed to transfer your OA savings to your SA. This is because you have already withdrawn $106,000* under the CPFIS-SA.
			* Prevailing Minimum Sum for the period 1 July 2008 - 30 June 2009
4.			How is the limit derived?
			The limit is the prevailing CPF Minimum Sum. The CPF Minimum Sum is the amount required to support a modest standard of living during retirement.
5.			If I have the prevailing CPF Minimum Sum in my Special Account after the transfer, will my future CPF contributions be credited to my Special Account?
			Yes, part of your future contributions will continue to be credited to your SA. This is to help you build up more cash savings for retirement.
6.			Can my loved ones transfer their CPF savings to my Special Account?
			No. This scheme is intended for members to build up their CPF savings for retirement. However, if your loved ones would like to help you set aside more savings for retirement, they may participate in the CPF Minimum Sum Topping-Up Scheme. Please refer to the Frequently Asked Questions (FAQs) on the CPF Minimum Sum Topping-Up Scheme for more details.
Irreversible Transfer
7.			Why is the transfer irreversible?
			The transfer of OA savings to the SA enables members to build up their CPF savings for retirement. Such transfers are done on a voluntary basis. Members are advised to plan the use of their CPF carefully before they make the transfer.
How to Apply
8.			How do I apply to the Board to make the transfer?
			To transfer your CPF savings from OA to SA, you can:
			a) make an immediate transfer via my cpf Online Services - My Requests.     b) submit an application form.
CONTACT US For enquiries, you may: Email members-accounts@cpf.gov.sg; Fax to 6229-3341; or Contact the CPF Call Centre at 1800-227-1188.