Last Updated: 24 May 2022
Post-Secondary Education Account (PSEA): Overview
The Post-Secondary Education Account (PSEA) is opened automatically for all eligible Singapore Citizens. Find out when that happens and what the account is about.
What the PSEA is about
The Post-Secondary Education Account (PSEA) is part of the Post-Secondary Education Scheme to help parents save for their children's post-secondary education. The PSEA is administered by MOE and is opened automatically for all eligible Singapore Citizens.
The PSEA funds can be used to:
- Pay for your child's or their siblings' approved programmes at approved institutions.
- Repay government education loans and financial schemes.
Find out where and how the funds can be used.
The PSEA balance will earn interest pegged to the CPF Ordinary Account (CPF-OA), which is currently 2.5% per annum.
When the PSEA will be opened
A PSEA will be opened for Singapore Citizens who have a balance in either their:
- Child Development Account (CDA) in the year they turn 13 years old.
- Edusave Account in the year they turn 17 years old, or no longer studying in an MOE-funded school, whichever is later.
It will also be opened for Singapore Citizens who are eligible for:
- PSEA top-ups by the Government.
- The first payment of the National Service Housing, Medical and Education (NS HOME) Awards.
- The annual education bursary under the Home Ownership Plus Education (HOPE) Scheme.
Learn more about fund transfers and contributions to a PSEA. As part of the Assurance Package announced at Budget 2023, there was a one-off top-up of $300 on Friday 26 May 2023 to the PSEA of Singapore Citizens who are: A PSEA will be automatically created for Singapore Citizens if they are eligible for the top-up, but do not have an existing PSEA. You will be notified through the Singpass app inbox by end May 2023. If you do not have the Singpass app, you will be notified via SMS.
Government top-up
How you will be notified
Learn how to view messages on Singpass
When the PSEA will be closed
The account holder's PSEA will be closed around the middle of the year in which they turn 31.
Account holders will receive a letter from MOE posted to their address as per NRIC in March of the year they turn 31 years old, informing them of the closure. Account holders can opt to:
- Retain their PSEA for one more year.
- Transfer the balance to their sibling's PSEA.
- Donate to the Education Fund.
For account holders who did not opt in, their PSEA will be closed and any unused PSEA funds will be transferred to their CPF-OA. This transfer is non-reversible and the funds will be subjected to CPF-OA usage rules.
When you will receive PSEA notifications
You will receive:
- A monthly transaction statement if there are contributions, withdrawals or refund transactions in the previous month.
- An annual statement of account in March each year. This shows the transactions and interest earned as at 31 January.
- Letters when the top-ups from government, NS-HOME award and HOPE are made, or when balances are received from CDA or Edusave Account.