Presuming that at age 55, you have the necessary CPF Retirement Account (RA) funded, what happens to the rest of the 'excess' money in the Ordinary Account (OA) and Special Account (SA)?  Can we withdraw freely, and how in what order will it be withdrawn from the respective accounts?

Here goes the responses from CPF Board ...

Question: If there is still balance in my SA after deducting the sum for RA, will it remain in the SA, or will the balance be transferred to OA?
It will remain in the SA.

Question: And thereafter, is it correct that any time after age 55, I can withdraw any balance left in both OA and SA?
Yes, your understanding is correct.

Question: Which gets deducted first if I choose to withdraw? Must it be from SA first, before OA? Or do I have a choice?
The Board processes your withdrawal in the following deduction sequence:

Question: Is it true

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