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Post-Secondary Education Account (PSEA) Scheme - Frequently Asked Questions

Scheme & Eligibility

My son is a Permanent Resident. Will he be eligible for the PSEA?

No, only Singapore citizens are eligible for the PSEA.

Usage

Why can’t my child make use of the PSEA for his educational expenses at primary, secondary and junior college levels?

PSEA is to be used for higher education which is more expensive. Education at primary, secondary and junior college level is heavily subsidised by the Government. There are financial assistance schemes, scholarships and bursaries in place to help parents with the expenses.

I am planning to send my child to study overseas. Can I use the PSEA funds?

For a start, you cannot use PSEA for overseas study. Overseas educational institutions are not accountable to the Singapore Government for the quality of their programmes. It is necessary for the Government to limit the use of the PSEA to quality local institutions for a start.

Can the PSEA funds be used for a skills-based training programme that is not offered by the Singapore Workforce Development Agency (WDA) lead training providers?

No, PSEA usage is restricted to WDA-accredited lead training providers. This is ensure that the courses are of high quality and are aligned to current industry needs. Over time, new lead training providers or programmes will be added to the list.

I am thinking of using my sibling’s PSEA to pay for my university’s tuition fees. Must I get their consent to do so?

Yes, you need to if your sibling is 21 years old and above. He will have to sign the application form for withdrawal to indicate his consent. If your sibling is below 21 years, your parent will have to authorise the usage and sign the application form.

Transfer Of Unspent Balance From Children Development Account (CDA) To PSEA

Can I choose to transfer my child’s CDA balance to his Edusave Account instead of PSEA?

No, CDA balance can be transferred only to PSEA.

Currently, I use my child’s CDA funds for his kindergarten fees and medical insurance. After the balance is transferred, can I use the PSEA for the same purpose?

No, you cannot. PSEA and CDA serve different purposes. The PSEA can only be used by your child or his siblings for post-secondary education expenses.

My child has already saved up to his contribution cap. After the unspent balance is transferred to PSEA, can I still contribute to his PSEA to earn the same interest rate of 2.5%?

No, you are not allowed to contribute to his PSEA if you have already reached the contribution cap.

Government PSEA Top-up

Why is PSEA top-up not given to Singaporeans 21 and above?

Under the GST Offset Package, Singaporeans who are 21 and above will get other benefits from Government surplus sharing.

Transfer Of Unspent Balance From PSEA to CPF Ordinary Account

Why is there a need to transfer the surplus funds in the PSEA to the account holder’s CPF-Ordinary Account when he turns 30?

The PSEA is aimed at post-secondary education at the pre-employment stage, generally between 18 to 30 years of age. After age 30, it is likely that the account holder has started employment. Hence, the balance is transferred to CPF OA for other uses.

Application for PSEA Withdrawal

What fees and charges are approved for PSEA usage?

Please refer to your respective institutions for the approved programmes.

When do I need to submit the PSEA SO form?

You can submit when you are admitted to the approved institution or any time thereafter.

How do I make use of my siblings’ PSEA?

You may request to deduct funds from up to 3 siblings’ PSEA. Part 2 of the application form will require you to indicate the following information:

  • Name of sibling(s) and their BC or NRIC;
  • Deduction priority (which sibling's account to deduct first, next and last)
  • Maximum amount to use (capped at a percentage of approved fees)

If you have a PSEA, deduction will first be made from your own account. Any shortfall will then be deducted from the siblings accounts based on the priority indicated and subject to the deduction cap.

If I have established a PSEA SO with MOE, how do I amend it?

You can amend your existing SO arrangement (eg. add or remove sibling(s), change priority or percentage) by submitting a new PSEA SO form.

Do I have to submit another PSEA SO form if I transfer to another approved institution?

No, once a PSEA SO is established with MOE, it will remain valid regardless of which approved institution you are transferred to until terminated or superseded by a new SO.

When do I use the standing order and when do I use the ad hoc withdrawal application form?

The approved institution will advise you on which form to use.