Post-Secondary Education (PSE) Scheme: About the PSEA
Will the PSEA earn interest?
The PSEA balance will earn interest pegged to the CPF Ordinary Account (CPF-OA) which is 2.5% per annum currently. (Note - The extra 1% interest on the first $20,000 in the CPF-OA will not apply to the PSEA.)
When will the PSEA be closed?
The PSEA will be closed when the account holder turns 30. Any unused funds in the PSE will be transferred to the account holder’s CPF Ordinary Account (CPF-OA).
How will I be informed of PSEA transactions?
Letters will be sent to account holders when PSEA or NSRA top-ups are paid, or when balances are received from CDA or Edusave Accounts. A monthly Transaction Statement will be sent to the account holder if there are PSEA contributions, withdrawal or refund transactions in the previous month. An annual Statement of Account (SOA) will be sent to all account holders in March which will show the transactions and interest earned as at end January.