4% interest for CPF Special and Medisave accounts and Retirement Account

December 13, 20131:01 pm323 views
4% interest for CPF Special and Medisave accounts and Retirement Account
4% interest for CPF Special and Medisave accounts and Retirement Account

Singaporeans will continue to enjoy an interest rate of 4 per cent on their Central Provident Fund (CPF) Special and Medisave Accounts from Jan 1 to March 31, and on their Retirement Account from Jan 1 to Dec 31, the CPF board announced on Friday.

Savings in the Special and Medisave accounts currently earn either 4 per cent or the 12-month average yield of 10-year Singapore Government Securities plus 1 per cent, whichever is higher.

Additionally, an extra 1 per cent interest will continue to be paid on the first $60,000 of a member’s combined balances, with up to $20,000 from the Ordinary Account.

From Jan 1, the Medisave Required Amount will be adjusted to $40,500 from the current $38,500 and converge with the current Medisave Minimum Sum.

 

source: straitstimes.com

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