Why is there a need to transfer the Post-Secondary Education Account (PSEA) balance to the CPF-Ordinary Account (CPF-OA) when an account holder turns 30?
The Post-Secondary Education Account (PSEA) is aimed at helping Singaporeans to complete their post-secondary education early. Hence, after age 30, the balance is transferred to CPF-OA for other uses. Account holders who require the use of PSEA funds beyond 30 years old can write in to MOE for extension of the use of PSEA after they receive the option letter from MOE together with their annual statement of account in the year they turn 31.
This information is sourced from MOE
Related questions
When does the Post-Secondary Education Account (PSEA) close and what will happen to the unutilised fund?
Are students in special education schools eligible for a Post-Secondary Education Account (PSEA)?
Why is the Government giving top-ups to the Post-Secondary Education Account (PSEA)?
Currently, I use my child's Child Development Account (CDA) for his kindergarten fees and medical insurance. After the balance is transferred, can I use the Post-Secondary Education Account (PSEA) for the same purpose?
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