Joshua Pereira, 30, is a civil engineer earning $6,000 a month. He and his fiancée have applied for a Build-To-Order flat, and his CPF statement shows $90,000 across three accounts. He wants to know which of that money can pay for the flat.
Every month, employees in Singapore and their employers pay part of each salary into the Central Provident Fund (CPF). Members below 55 have an Ordinary Account (OA), a Special Account (SA) and a MediSave Account (MA). At 55, a Retirement Account (RA) opens and the Special Account closes.
For Joshua, $2,220 goes into CPF each month, or 37% of wages once the employer's share is counted. About $1,380 of that goes to the OA, $360 to the SA and $480 to MediSave. The sections below follow each account, its interest and what changes at 55.
What Are The Four CPF Accounts?
| Account | Interest | Used for | When the money comes out |
|---|---|---|---|
| Ordinary (OA) | 2.5% | Housing, education, insurance under CPF schemes, investment | For those uses while working. Any balance above the Full Retirement Sum from 55 |
| Special (SA) | 4% | Retirement | Closes at 55. The balance moves to the Retirement Account up to the Full Retirement Sum, and the rest to the OA |
| MediSave (MA) | 4% | Hospital bills, approved outpatient treatment, MediShield Life and Integrated Shield premiums | Only for healthcare |
| Retirement (RA) | 4% | Funds the CPF LIFE payout | As a monthly payout from 65 |
Source: CPF Board
The OA pays the down payment and monthly instalments on most flats. Joshua's $90,000 is $48,000 in the OA, $18,000 in the SA and $24,000 in MediSave. Only the $48,000 in his OA can go towards the flat.
How Much Of His Salary Goes Into CPF?
Employees and employers share the contribution. These are the rates from 1 January 2026 for monthly wages above $750 (CPF Board, How much CPF contributions to pay, checked 27 September 2026):
| Employee's age | Employer | Employee | Total |
|---|---|---|---|
| 55 and below (Joshua) | 17% | 20% | 37% |
| Above 55 to 60 | 16% | 18% | 34% |
| Above 60 to 65 | 12.5% | 12.5% | 25% |
| Above 65 to 70 | 9% | 7.5% | 16.5% |
| Above 70 | 7.5% | 5% | 12.5% |
Source: CPF Board
Joshua pays 20% × $6,000 = $1,200 and takes home $4,800, and his employer adds $1,020. Contributions are paid only on wages up to the Ordinary Wage ceiling, which is $8,000 a month from 1 January 2026 (checked 27 September 2026). An employee aged 55 and below earning $10,000 a month contributes on $8,000 of it, so the total monthly contribution is $8,000 × 37% = $2,960.
Rates for older workers rise again on 1 January 2027. According to the CPF Board's employer notice (checked 27 September 2026), the total for employees above 55 to 60 goes up to 35.5%, and for employees above 60 to 65 to 26%. The increase goes to the Retirement Account, up to the Full Retirement Sum.
How Is His Contribution Split Across The Accounts?
A second set of age bands decides how the total contribution is shared out. The CPF Board's allocation table from 1 January 2026 (checked 27 September 2026) gives each account's share of the contribution:
| Employee's age | Ordinary Account | Special or Retirement Account | MediSave Account |
|---|---|---|---|
| 35 and below (Joshua) | 0.6217 | 0.1621 | 0.2162 |
| Above 35 to 45 | 0.5677 | 0.1891 | 0.2432 |
| Above 45 to 50 | 0.5136 | 0.2162 | 0.2702 |
| Above 50 to 55 | 0.4055 | 0.3108 | 0.2837 |
| Above 55 to 60 | 0.353 | 0.3382 | 0.3088 |
| Above 60 to 65 | 0.14 | 0.44 | 0.42 |
| Above 65 to 70 | 0.0607 | 0.303 | 0.6363 |
| Above 70 | 0.08 | 0.08 | 0.84 |
Source: CPF Board
Joshua's OA receives $2,220 × 0.6217 = $1,380, his SA receives $2,220 × 0.1621 = $360, and MediSave receives $2,220 × 0.2162 = $480. In the above 50 to 55 band, the OA share falls to about 41%. From 55, the share that went to the SA goes to the RA instead, up to the Full Retirement Sum, and anything above that goes to the OA.
How Much Interest Do His Accounts Earn?
CPF declares its interest rates every quarter. According to the CPF Board's interest rate page (checked 27 September 2026), the rates from 1 October to 31 December 2026 are:
| Account | Interest rate a year | How the rate is set |
|---|---|---|
| Ordinary Account | 2.5% | Pegged to major local banks' rates, with a legislated minimum of 2.5% |
| Special Account | 4% | Pegged to the 10-year Singapore Government Securities yield plus 1%, with a 4% floor |
| MediSave Account | 4% | Same as the Special Account |
| Retirement Account | 4% | Same as the Special Account |
Source: CPF Board
The 4% floor on the Special, MediSave and Retirement Accounts was earlier extended to 31 December 2026 (CPF Board, checked 27 September 2026). On 22 September 2026 the Government extended it again to 31 December 2027 (checked 27 September 2026).
How Does The Extra Interest On The First $60,000 Work?
The Government pays extra interest on the first $60,000 of a member's combined balances, and at most $20,000 of that can come from the OA. The rate depends on age, according to the CPF Board's release for the first quarter of 2026 (checked 27 September 2026):
| Member's age | Extra interest | Most extra interest in a year |
|---|---|---|
| Below 55 (Joshua) | 1% on the first $60,000 | $600 |
| 55 and above | 2% on the first $30,000, and 1% on the next $30,000 | $900 |
Source: CPF Board
Joshua's first $20,000 in the OA, $18,000 in the SA and $24,000 in MediSave come to $62,000, so he earns the full $600 a year (1% × $60,000). The extra is capped in dollars. A member below 55 with $20,000 in the OA and nothing else earns 3.5% on it, or $700 a year against $500 at the base rate.
Read Also: CPFIS: Limits, Fees And The 2.5% Return To Beat
What Happens To The Accounts At 55?
Joshua's mother, Grace, turned 55 in 2026. At 55, a member's Special Account closes and a Retirement Account opens. The CPF Board moves the savings in this order:
- The SA balance moves to the RA.
- OA savings follow, until the RA holds the member's Full Retirement Sum.
- Any SA savings left over go to the OA.
On 19 January 2025 the CPF Board closed the Special Accounts of about 1.4 million members aged 55 and above in one step (CPF Board, Closure of Special Account, checked 27 September 2026).
The retirement sums are set by the year a member turns 55. According to the CPF Board's pages on the Basic Retirement Sum and the Full Retirement Sum (both checked 27 September 2026):
| Year turning 55 | Basic Retirement Sum | Full Retirement Sum |
|---|---|---|
| 2024 | $102,900 | $205,800 |
| 2025 | $106,500 | $213,000 |
| 2026 (Grace) | $110,200 | $220,400 |
| 2027 | $114,100 | $228,200 |
Source: CPF Board
Grace had $150,000 in her SA and $100,000 in her OA. All $150,000 moved to her RA, and $70,400 of her OA followed to reach $220,400. The other $29,600 stayed in her OA. At 55 and above, her extra interest rises to as much as $900 a year.
Read Also: BRS, FRS And ERS: What CPF Members Can Withdraw At 55 In 2026
Read Also: Should CPF Count In Your Net Worth?
Read Also: See Your CPF Balances Alongside Your Retirement Plan In Cashmere Pocket
Which Account Pays For The Flat?
Joshua counts only his OA towards the flat. His $48,000 grows by $1,380 a month, so in a year it reaches $48,000 + 12 × $1,380 = $64,560 before interest. He makes no transfer from the OA to the SA, because a transfer cannot be reversed. His $18,000 in the SA stays for retirement, and his $24,000 in MediSave stays for hospital bills and insurance premiums.
Younger members with a home purchase ahead, like Joshua, see most of their contributions go to the OA, while members in their fifties see more go to the SA, RA and MediSave. Which account matters most at any age depends on each member's plans for housing, healthcare and the age they intend to stop working.