Fam Wencong, Kenneth

My Diary

How Can I Invest My CPF?

Published: Sunday, May 17, 2020

For those of you that want to build your retirement savings, this article is for you. You can simply do not do anything with your CPF savings and earn the given interest rates or you can optimize it by investing it.

The table below shows the interest rates you get on your CPF savings without having to do anything.

Account name Annual interest rate Bonus interest
Ordinary Account (OA) 2.5% (up to 3.5%) +1% on first $60,000 (capped at $20,000 for OA)
Special Account (SA) 4% (up to 5%)
Medisave Account 4% (up to 5%)
Retirement Account 4% (up to 5%)

For those below 55, there are 3 main accounts that make up your CPF. Ordinary Account (OA), Special Account (SA), and MediSave Account (MA)​.

​Uses of CPF Savings
​Ordinary Account (OA) ​For housing, insurance, investment and education.
Special Account (SA)​ ​​​For old age and investment in retirement-related financial products.
MediSave Account (MA)​ ​​For hospitalisation expenses and approved medical insurance.
Retirement Account (RA) ​On your 55th birthday, a fourth account, the Retirement Account (RA), is automatically created

After setting aside your housing loans using your OA, you can do more with your CPF.

1. You can transfer your OA sums to your SA for the higher interest rates.

For those that do not want to take the risk with your retirement savings, you can transfer your OA sums to your SA for the higher interest rates. This will earn you 1.5% more than if you did nothing.

2. Or you can decide to invest your CFP using CPFIS.

For more risk-loving people, as the long-run rate on return on stocks beats CPF rates, you can decide to invest your CPF.

Who is eligible for the CPF Investment Scheme?

If you’re interested in CPFIS, there are a few requirements you need to meet. You can invest your CPF savings under the CPF Investment Scheme (CPFIS) after setting aside $20,000 and $40,000 in your OA and SA respectively.

Factor Minimum requirement
Age 18 years old
Legal status Not undischarged bankrupt
CPF (OA) balance $20,000 (for CPFIS-OA)
CPF (SA) balance $40,000 (for CPFIS-SA)

How can I apply to use my CPF savings under CPFIS?


Open a CPF Investment Account with one of the following CPFIS agent banks with your CPF statement if you wish to invest your OA savings:

– DBS Bank Ltd (DBS)
– Overseas-Chinese Banking Corporation Ltd (OCBC)
– United Overseas Bank Ltd (UOB)


There is no need to open any CPF Investment Account if you wish to invest your SA savings. Thereafter, you can approach the product providers (PDF, 0.4MB) directly to buy or sell your investments. I use fundsupermart.com.