What happened?

With the CPF Special Account (SA) interest rate raised to 4.01% per annum from 1st July to 30th September 2023, many have asked us if it is worthwhile to put more money into our SA accounts. There are mainly two ways in which you can grow your CPF SA in a safe way, either by transferring your Ordinary Account (OA) funds to your SA or by doing cash top-ups to your SA. Earlier, we shared about what you should consider before transferring your OA funds to your SA. We will now take a deep dive into the pros and cons of topping up your CPF SA account, and whether it might be worthwhile doing so.

Why you may want to consider CPF SA top-up

#1 - It offers a safe way to earn a relatively high return 

If you didn’t already know, the prevailing interest rate of the...