What is the PSEA
The Post-Secondary Education Account (PSEA) is part of the Post-Secondary Education Scheme to help parents save for their children’s post-secondary education. The PSEA is administered by MOE and is opened automatically for all eligible Singaporeans.
Earning interest from the PSEA
The PSEA balance will earn interest pegged to the CPF Ordinary Account (CPF-OA), which is currently 2.5% per annum.
When will the PSEA be closed
The PSEA will be closed around the middle of the year in which you turn 31. Any unused funds in the PSEA will be transferred to your CPF-OA. Once transferred to CPF-OA, it cannot be reversed to PSEA and will be subject to CPF-OA usage rules.
Alternatively, you can opt to transfer the balance to your sibling’s existing PSEA (if applicable) when you receive the transfer option letter from us in the year you turn 31 years old.