From next year, once the provident fund member is 55 years old, the special account will be closed, but almost all of these members can transfer all the deposits of special accounts to the Retirement Account and continue to get the same highinterest rate.

After the government will close the special account of the 55 -year -old provident fund member, it will attract public attention in the past few days.Dr. Chen Shilong, Minister of Manpower, posted on a personal Facebook page on Monday (February 19), emphasizing the above arguments, and listed and reposted several common questions answered by the Central Provident Fund.

The following is the excerpt of these problems:

Does it mean that the retired savings of the provident fund member will earn a lower interest rate?

No, the maximum amount of the retirement account, that is, four times that of the enhanced retirement SUM to be increased to the Basic RETIREMENT SUM, more than 99 % of members who are 55 years old can still be able toTurn all the deposits of special accounts to retirement accounts and earn higher interest rates for a long time.The excess deposit limit in 2025 will be 4206,000 yuan. Members with a limit of retirement accounts will receive a provident fund income of about 3,300 yuan per month in the future.

The first 60,000 yuan deposit of the provident fund account can still get an additional percentage interest rate.

Does this affect the extraction limit?

After the members fill in the full deposit (twice the basic deposit), the members can withdraw the remaining deposits and the first 5,000 yuan.Those who have real estate can also withdraw the remaining deposits after reaching the basic deposit limit.However, any voluntary filling of retirees cannot be extracted.

I invested special account deposits. After the special account is closed, do I have to sell my investment?

The provident fund member uses the provident fund investment plan to invest with special account deposits to continue to hold these investment.If the special account is closed, the investment expires or the investment will be returned, and the income will be attributed to the retirement account until the full deposit is filled, and the remaining one will be returned to the ordinary account.

Are there any special accounts under the age of 55?

Some, which helps them accumulate retirement savings.Only after they are 55 years old and the retirement account is created, their special account will be closed.

After the special account is closed, which account will the provident fund pay?Can I transfer more special account deposits to ordinary accounts to repay the house or education loan?

The provident fund payable that was originally deposited in a special account will be transferred to the retirement account until the full deposit is filled.If the retirement account has reached full deposits, the provident fund payment will turn into ordinary accounts.

The money transferred to ordinary accounts can be used to repay the house or education loan, or it can be extracted to cope with from time to time.However, we must not choose to use more special account deposits or pay for retirement accounts in the future to repay loans.

Why should you close the special account when the provident fund member is 55 years old?

The long -term interest rate of the special account and retirement account of the provident fund is the same, currently 4.08%.In principle, the deposit that cannot be withdrawn at any time to earn long -term interest rates, and the deposit that can be withdrawn at any time can only earn short -term interest rates.

The special account of closing some of the amounts can be extracted in line with this principle.Special account deposits will be transferred to the retirement account until the full deposit is filled, and the remaining will be transferred to the ordinary account.The deposit transfer to ordinary accounts will earn a short -term interest rate and can still be extracted.