The CPF Investment Scheme (CPFIS) allows CPF members to invest part of their Ordinary Account savings (CPFIS-OA) and Special Account savings (CPFIS-SA) in products approved by the CPF Board, subject to set-aside amounts and product limits.
Key takeaways
- CPFIS covers two pools — CPFIS-OA for Ordinary Account savings and CPFIS-SA for Special Account savings.
- OA savings can be invested only after SGD 20,000 is set aside in the OA, and SA savings only after SGD 40,000 is set aside in the SA.
- Members have to be at least 18 and not an undischarged bankrupt, and new investors complete the CPFIS Self-Awareness Questionnaire.
- Up to 35% of investible savings can go into shares, property funds and corporate bonds, and up to 10% into gold products — both CPFIS-OA only.
- Investible savings is the OA balance plus the CPF already withdrawn for investment and education.
Who can invest under CPFIS
A member has to be at least 18 years old and not an undischarged bankrupt, and needs more than SGD 20,000 in the Ordinary Account or more than SGD 40,000 in the Special Account. New investors complete the CPFIS Self-Awareness Questionnaire, which the CPF Board introduced on 1 October 2018. The Special Account was closed for members aged 55 and above in January 2025, so new CPFIS-SA investments are made by members below 55; members aged 55 and above can continue to hold CPFIS-SA investments made earlier, with the proceeds going to the Retirement Account up to the Full Retirement Sum on sale or maturity and the remainder to the Ordinary Account.
What can be bought
Some instruments are open to both pools, while others are restricted to Ordinary Account savings:
- Both CPFIS-OA and CPFIS-SA — unit trusts, investment-linked insurance products, annuities, endowment policies, Singapore Government Bonds, Treasury Bills and fixed deposits
- CPFIS-OA only — shares, property funds, corporate bonds, gold ETFs and other gold products
Stock and gold limits
Within CPFIS-OA, up to 35% of investible savings can be held in shares, property funds and corporate bonds, and up to 10% in gold products. Investible savings is the Ordinary Account balance plus any CPF already withdrawn for investment and education, so the limits are worked out on a wider base than the cash sitting in the account.
What changes when savings are invested
Savings moved out of the OA or SA under CPFIS stop earning the CPF interest rate that would otherwise apply to them, and the outcome depends on the investments held. The CPF Board does not endorse any product provider or investment product offered under the scheme.
Key CPFIS figures
| Item | Figure |
|---|---|
| Amount set aside in the OA before investing | SGD 20,000 |
| Amount set aside in the SA before investing | SGD 40,000 |
| Stock limit (CPFIS-OA) | 35% of investible savings |
| Gold limit (CPFIS-OA) | 10% of investible savings |
| Minimum age | 18 |
Figures as at 2026. Source: CPF Board.
Worked example
A member with SGD 50,000 in the Ordinary Account sets aside the first SGD 20,000, leaving SGD 30,000 that could be invested under CPFIS-OA. The 35% and 10% limits are worked out on investible savings, which is the full Ordinary Account balance including the first SGD 20,000 set aside, plus any CPF already withdrawn for investment and education — not on the SGD 30,000 left after the set-aside. With nothing previously withdrawn, investible savings is SGD 50,000, so the stock limit works out at SGD 17,500 and the gold limit at SGD 5,000.
Related terms
All Singapore glossary terms →Related calculator
Compare the interest rates that apply to CPF savings left in the OA, SA, MA and RA.
This page is provided for educational and informational purposes only. It does not constitute financial advice. All figures and worked examples are estimates for illustrative purposes, are subject to change, and do not reflect any individual’s circumstances. Always refer to the CPF Board and seek independent professional advice before making any financial decisions.