Trying to be smart with your CPF? Here are 3 hacks to maximise the interest in your CPF!
1. Transfer Money From Your OA to SA

Photo credits: James Hose Jr on Unsplash
Not looking to buy a house anytime soon? You could gain a lot more when you focus your CPF on your Special Account (SA). When you're under 55, you get up to additional 6% p.a. interest rate on your first $30,000 and an additional 5% p.a. interest rate on your next $30,000. This is capped at $20,000 for your Ordinary Account (OA), so you can earn more when you keep your OA less than that amount.
Plus, compared to your OA, at 2.5% p.a., the SA gets a higher interest rate (4% p.a.). Make the most of your CPF contributions when you transfer money from your OA to your SA. Start transferring here!
2. Top Up Your SA in January

Photo credits: CPF
Since CPF interest is counted at a monthly rate, topping up your accounts in January would allow you to earn up to 20% more interest than topping up later in December. If possible, making voluntary contributions regularly would also help your build your accounts!
3. Retain $20,000 in OA

Photo credits: Jiachen Lin on Unsplash
When buying your HDB you have the option to use your entire account or choose to retain up to $20k in your OA. Generally, it is recommended to choose the latter, so as to continue benefitting from the 1% bonus interest.
CPF can be a lifesaver when it comes to retirement funds. Do you know more methods to maximise your CPF? Let us know and we might feature it in another installment!
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