About the PSEA

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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 in the year the account holder turns 31. Any unused funds in the PSEA will be transferred to the account holder’s CPF-Ordinary Account (CPF-OA). Once transferred to CPF-OA, it cannot be reversed to PSEA and will be subject to CPF-OA usage rules.

Alternatively, the account holder can opt to transfer the balance to his sibling’s (if any) existing PSEA when he receives the transfer option letter from us in the year he turns 31.

How will I be informed of PSEA transactions?

You will receive an annual statement in March and monthly updates if there is a transaction in your/your child’s/ward’s PSEA in the previous month.