What happens when a CPF member turns age 55?

  What happens when a CPF member turns age 55? When a member turns age 55, their SA and Ordinary Account (OA) savings up to the Full Retirement Sum (FRS) will be transferred to the newly created RA. As the SA will be closed thereafter, any SA balance in excess of FRS will be transferred to the OA and earn the lower interest of at least 2.5% pa.    Future employer and employee CPF contributions will be channelled into OA, RA, and MediSave Account (MA). If the RA has reached FRS and/or the MA has reached the Basic Healthcare Sum, the excess contributions will go to their OA.   For members who invested SA monies before age 55 via CPFIS-SA and choose to liquidate after SA closure, the proceeds will be transferred to the RA (if FRS is not met) or to the OA if the FRS in RA has been met.