When does the Post-Secondary Education Account (PSEA) close and what will happen to the unutilised fund?
The Post-Secondary Education Account (PSEA) will be closed in the middle of the year you turn 31. Any remaining balance will be automatically transferred to your CPF-Ordinary Account (CPF-OA).
An option letter will be sent to you together with your annual statement of account in that year asking if you would like to transfer the balance to your sibling’s PSEA instead. Please note that the PSEA balance cannot be withdrawn in cash nor transferred to another bank account.
This information is sourced from MOE
Related questions
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?
Can the Post-Secondary Education Account (PSEA) be used for a child's educational expenses at primary, secondary and junior college levels?
How do I apply for the withdrawal of the Post-Secondary Education Account (PSEA)?
Can my child use the funds in their Post Secondary Education account (PSEA) to pay outstanding school and miscellaneous fees?
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