In my previous post, I gave a broad overview of how CPF works without detailing the specific accounts within CPF.

I will take a deeper dive into each account and explain why it was created and how we could make better use of it.

Here are the various CPF accounts:

  • Ordinary Account (OA)
  • Special Account (SA)
  • Medisave Account (MA)
  • Retirement Account (RA)

Ordinary Account: The Firstborn Child

Have you ever had the experience of someone who always refers to or addresses you as the brother or sister of your eldest sibling? Other people usually only remember the name of your older sibling.

The CPF Ordinary Account (OA) is like the first-born child of the CPF

family. Many of our first acquaintance with CPF is via the OA.

It is not surprising because most of us use our OA to fund our home purchases. It is the only account that we could use to buy tangible assets under the age of 55.