CPF special account

[Dennis Ng]

Dear HL,

I would suggest that before you consider transferring some money from your CPF Ordinary Account to CPF Special Account make sure you have:

1. set aside enough money to pay for at least 12 months of Housing Loan instalments

Thereafter, you can consider transferring some money into CPF Special account. As you mentioned correctly, this transfer is irrevocable (ie. NO u-turn) so better think thrice before doing it.

Other than transferring into CPF Special account, another way to do is to try to invest the money in CPF Ordinary account to get a higher returns.

I personally have made more than 4% per year by investing it. However, if you do not have investment knowledge yourself, don't anyhow invest as majority of people invest lost money.