CPF Ordinary, Special, MediSave & Retirement Account Rates

What it is

CPF isn't an investment product you choose to buy -- it's a mandatory savings scheme funded through employment contributions, and it matters here because its guaranteed rates are the real-world benchmark every "safe" savings or insurance product is implicitly competing against. The Ordinary Account (OA), Special Account (SA), MediSave Account (MA), and Retirement Account (RA) each earn different statutory rates, with extra interest tiers on top for lower balances.

The trade-off for CPF's strong guaranteed rate is restricted access: funds are generally locked until the prevailing CPF withdrawal age, with specific carve-outs for housing, investment schemes, and medical use rather than free access.

How it's structured

• Ordinary Account (OA): 2.5% p.a., the legislated statutory floor rate, unchanged through 2026. Usable for housing, CPFIS investments, insurance, and education, among other approved uses.
• Special Account (SA), MediSave Account (MA) and Retirement Account (RA): 4% p.a. floor rate, extended by the government through 31 December 2026. The RA is where OA and SA savings are consolidated at age 55 to fund retirement payouts, and it earns the same floor as SA and MA.
• Extra interest under 55: an extra 1% p.a. on the first $60,000 of combined CPF balances, with up to $20,000 of that coming from the OA.
• Extra interest 55 and above: an extra 2% p.a. on the first $30,000 of combined balances, plus a further 1% p.a. on the next $30,000 -- an effective rate of up to 6% p.a. on the first $30,000.
• Statutory floors set a minimum below which rates cannot fall regardless of market conditions; the specific levels are reviewed periodically by the CPF Board.

What kind of return to actually expect

The OA floor rate is 2.5% p.a. and the SA/MA/RA floor rate is 4% p.a. -- both worth memorizing as reference points, since any capital guaranteed insurance plan or fixed deposit promising less than these, without offsetting liquidity or flexibility, is arguably underperforming money you could otherwise simply leave in CPF.

As a worked example: someone under 55 with $20,000 in their OA and $10,000 in their SA earns, over one year, $700 on the OA (2.5% base + 1% extra interest) and $500 on the SA (4% base + 1% extra interest) -- $1,200 total, credited automatically with no action required. Rates correct as of September 2026; confirm current figures on the CPF Board website before relying on them for planning, since floor rates and extra-interest tiers are subject to periodic government review.

The risks, plainly

• Access restriction, not credit risk -- the real constraint on CPF isn't safety, it's that funds are largely locked until CPF withdrawal age, with specific approved-use exceptions.
• Rate review risk -- floor rates guarantee a minimum, but the specific rate levels and extra-interest tiers are periodically reviewed and can change.
• Opportunity cost for OA specifically -- OA's floor rate sits 1.5 percentage points below SA/MA/RA's, so where funds sit within CPF matters for the return you're actually earning.

Who it tends to suit

CPF isn't a product you shop for -- it's the floor every other "safe" option on this site gets measured against. If a capital guaranteed plan or fixed deposit is pitched to you at a rate below the current SA/MA/RA floor with no offsetting flexibility, that gap is worth questioning before the sales pitch.

This describes how this type of product is typically used -- it isn't a recommendation for your specific situation. Talk to a licensed adviser before deciding.

Common questions

Can I choose to put extra cash into CPF for the higher rate?

Voluntary top-ups are possible under CPF's schemes, subject to annual limits and account-specific rules -- worth checking directly on the CPF Board's website for current limits, or discussing with a licensed adviser.

Is CPF's rate really government guaranteed?

Yes -- the 2.5% OA and 4% SA/MA/RA floor rates are set by statute and backed directly by the Singapore government, among the strongest guarantees available to a Singapore resident.

Why do OA and SA/MA/RA pay different rates?

SA, MA and RA balances are earmarked for retirement, healthcare and retirement payouts respectively, with narrower approved uses than OA -- the higher statutory floor rate reflects that reduced flexibility.