CPF maintains rate on Special, Medisave accounts

• QX179R

  15 Jun 12, 13:08

  SINGAPORE: Central Provident Fund (CPF) members will continue to enjoy a risk-free interest rate of four per cent on their savings in the Special and Medisave accounts from July to September.

  The CPF Board said this is in line with the government's announcement in September last year to maintain the four per cent per annum floor rate for interest earned on all monies in the Special and Medisave accounts, and the Retirement Account until the end of this year.

  Savings in the Special and Medisave accounts currently earn either four per cent or the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus one per cent, whichever is higher.
  
  The interest rate on Special and Medisave accounts is adjusted quarterly, based on interest rates on 10YSGS over a preceding 12-month period.
  
  The average yield of the 10YSGS plus 1 per cent, from 1 June 2011 to 31 May 2012, works out to 2.72 per cent.
  
  CPF Board said the interest rate on Special and Medisave accounts payable to CPF members from 1 July to 30 September will thus be maintained at the current floor of four per cent.
  
  - CNA/al

• dragg

  15 Jun 12, 13:17

  4%? so generous of them. are we supposed to be thankful?
• ^Acid^ aka s|aO^eH~

  15 Jun 12, 13:22

  4% of a phantom money that we most likely wont be getting...

• charlize

  19 Jun 12, 18:17

  Originally posted by dragg:

  4%? so generous of them.

  are we supposed to be thankful?

  Yes.

   

  Bank interest less than 1%.

• βέτά

  19 Jun 12, 18:23

   

  Inflation 5%.

   

   

• βέτά

  19 Jun 12, 18:24

   

  Maybe we should take out all our cash savings and put into CPF account.

   

   

• charlize

  19 Jun 12, 18:26

  Originally posted by βέτά:

   

  Maybe we should take out all our cash savings and put into CPF account.

   

   

  We can look at our cpf statement and feel rich.

• lce

  19 Jun 12, 19:19

  always not giving full information

  tat how the garhem works , if they can fuck yr ass they will do it without notice

   

• charlize

  21 Jun 12, 23:32

  Originally posted by lce:

  always not giving full information

  tat how the garhem works , if they can fuck yr ass they will do it without notice

   

  Why you say that?

• Rock^Star

  22 Jun 12, 00:22

  "....continue to enjoy a risk free interest rate"? Ha how nice they make it sound! Cut and paste in these modern times cannot make it liao.

• charlize

  23 Jun 12, 16:26

  Originally posted by Rock^Star:

  "....continue to enjoy a risk free interest rate"? Ha how nice they make it sound! Cut and paste in these modern times cannot make it liao.