CPF interest rate for Special, MediSave, Retirement accounts increases to 4.14%
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SINGAPORE — The four per cent floor rate for interest earned on all Special, MediSave and Retirement account (SMRA) monies has been extended for another year until Dec 31, 2025. In a joint statement on Sept 20, the Housing Board and Central Provident FunCPF interest rate for Special, MediSave, Retirement accounts increases to 4.14%
SINGAPORE — The four per cent floor rate for interest earned on all Special, MediSave and Retirement account (SMRA) monies has been extended for another year until Dec 31, 2025. In a joint statement on Sept 20, the Housing Board and Central Provident Fund (CPF) Board said the extension from Jan 1, 2025, will «continue to provide CPF members with certainty on the returns of their CPF savings amidst the volatile interest rate environment». Since 2008, savings in SMRAs have been invested in Special Singapore Government Securities, which earn an interest rate pegged to the 12-month average yield of 10-year Singapore Government Securities plus one per cent. All interest rates are quoted on a per annum basis. From Oct 1 to Dec 31, the SMRA interest rate will be set at 4.14 per cent, up from the 4.08 per cent in the third quarter, due to the pegged rate exceeding the floor rate of 4 per cent. The Ordinary Account (OA) interest rate will remain unchanged at 2.5 per cent from Oct 1 to Dec 31, as the OA pegged rate remains below the floor rate of 2.5 per cent.