Your Special Account closes. Here is where the money goes.
The CPF Board closed the Special Accounts of about 1.4 million members aged 55 and above on 19 January 2025. If you turn 55 after that date, it happens on your birthday. Nothing is taken away, it moves, and the two destinations behave differently.
What changed, and what did not
The 2025 change moved savings between accounts. It did not change how much you have.
Changed: savings that can be withdrawn on demand now earn the short-term rate. That is the stated reason for closing the SA at 55.
Changed: new contributions after 55 no longer go to an SA. They go to OA, MA and RA.
Unchanged: your total balance, your FRS requirement, and your payout eligibility age of 65.
Unchanged: members below 55 still have an SA earning the long-term rate.