The PSEA balance will earn interest pegged to the CPF Ordinary Account (CPF-OA), which is currently 2.5% per annum.
Note: The extra 1% interest on the first $20,000 in the CPF-OA will not apply to the PSEA.
Post-Secondary Education Account (PSEA)
The Post-Secondary Education Account (PSEA) is opened automatically for all eligible Singaporeans. 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. Find out what it is and what you can use it for.
Earning interest from the PSEA
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 subjected 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.
Learn if you are eligible, how to check funds balance and how to use the funds.
Who is eligible for PSEA?
- Singaporeans with a Child Development Account (CDA)
- Parental contributions to PSEA
- Government top-up eligibility
- Edusave balance transfer
- National Service housing, medical and education awards
- Annual education bursary
How to check fund balance?
You can call our 24-hour automated PSEA hotline at 62600777 to check your balance. Latest PSEA balance information will be updated every Wednesday.
For any PSEA transaction that occurs in that month, a statement will be sent to you in the following month. You will also receive a statement of account by end of March every year.
How to use your funds?
Funds in your Post-Secondary Education Account (PSEA) can be used to pay for your own or your siblings’ approved programmes in our list of approved institutions. It can also be used to repay government education loans and financial schemes.
Note: The PSEA cannot be used for junior college and Millenia Institute expenses. You may use your Edusave contributions for such expenses instead. If you need additional help, you can seek financial assistance or apply for awards and scholarships.