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Last Updated: 24 May 2022

Post-Secondary Education Account (PSEA): Overview

The Post-Secondary Education Account (PSEA) is opened automatically for all eligible Singaporeans. 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 Singaporeans.

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.

The extra 1% interest on the first $20,000 in the CPF-OA will not apply to the PSEA.

When the PSEA will be opened

A PSEA will be opened for Singaporeans who have a balance in either their:

  • Child Development Account (CDA) in the year they turn 7 years old for children born between 2001 and 2005, or the year they turn 13 years old for children born after 2005.
  • 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 Singaporeans who are eligible for:

Learn more about fund transfers and contributions to a PSEA.

Government top-up

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:

  • Aged 17 to 20 in 2023.
  • Not eligible for the Edusave top-up.

A PSEA will be automatically created for Singapore Citizens if they are eligible for the top-up, but do not have an existing PSEA.

How you will be notified

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.

Learn how to view messages on Singpass

When the PSEA will be closed

Your child's PSEA will be closed around the middle of the year in which they turn 31. Any unused funds will be transferred to their CPF-OA and subjected to CPF-OA usage rules. Once transferred, the PSEA will be closed.

Alternatively, if their sibling has a PSEA, they can transfer the balance to their sibling's PSEA when they receive the transfer option letter from us in the year they turn 31 years old.

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 end-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.
To ensure that you receive the statements and notification letters, please keep your address updated with your child’s current school. If they are no longer studying, but hold a NRIC, the address will be updated automatically.