The 4 per cent floor rate for interest earned on all Special, MediSave and Retirement Accounts (SMRAs) monies has been extended for another year until Dec 31, 2025. In a joint statement on Sept 20, the Housing Board (HDB) and Central Provident Fund (CPF) Board said the...
From Oct 1 to Dec 31, the Special, MediSave and Retirement Account interest rate will be set at 4.14 per cent.The 4 per cent floor rate for interest earned on all Special, MediSave and Retirement Accounts monies has been extended for another year until Dec 31, 2025.
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 1 per cent.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.
As part of the Government’s efforts to boost CPF members’ retirement savings, CPF members will continue to earn extra interest on their CPF savings. Those aged 55 and above will continue to earn an extra 2 per cent interest on the first $30,000 of their combined balances, capped at $20,000 for the OA, and an extra 1 per cent on the next $30,000.
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