Can I use my CPF Ordinary Account money to buy SSBs or T-bills?

Using CPF Ordinary Account (OA) for SSBs or T-bills

Generally, CPF Ordinary Account (OA) funds can only be used for housing, education, investments under the CPF Investment Scheme (CPFIS-OA), and certain insurance schemes like MediShield Life and CareShield Life.

Singapore Government Securities (SSBs) and Treasury Bills (T-bills)

SSBs and T-bills are generally considered investments in Singapore Government debt instruments. While they offer attractive yields (T-bills recently saw a cut-off yield of 3.7%), they are not typically an approved investment avenue under the standard CPFIS-OA framework.

Under the CPFIS-OA, you can invest your OA savings (above the minimum balance required for housing) into a defined list of products, which includes unit trusts, bonds, and fixed deposits. However, direct purchase of government securities like SSBs or T-bills using OA funds is generally not permitted through the standard CPF investment channels.

CPF Investment Scheme (CPFIS-OA) Limitations

The CPFIS allows CPF members aged 55 and below to invest their OA savings (above $20,000) and Special Account (SA) savings (above $40,000) into approved products. The investment limit is capped at the lower of $400,000 or the excess amount above these minimums. However, the specific instruments you mentioned (SSBs and T-bills) are usually not listed as eligible investments for OA funds.

Alternative: Supplementary Retirement Scheme (SRS)

If you wish to invest in T-bills or other instruments with tax advantages, you would typically use the Supplementary Retirement Scheme (SRS). The SRS allows citizens/PRs to contribute up to $15,300 annually. Funds in SRS can be invested in a wider range of products, including T-bills. Note that SRS funds earn only 0.05% interest if uninvested and must be actively invested to generate returns. Withdrawals are taxed at 50% after the statutory retirement age (currently 63 if opened now).

In summary, you cannot directly use your CPF OA money to purchase SSBs or T-bills.