Tuesday, September 18, 2007

CPF Interest Rate Up

It was confirmed and announced in Parliament today. From 1st Jan 08, all CPF members will receive a higher interest payment.
a) Additional 1% p.a for the first $60,000 in your CPF accounts combined of which upto $20,000 is from the Ordinary Account
i) The additional 1% will goes into the Special or Retirement account

b) The interest Rate for the SMRA(Special, Medisave, Retirement account) would be re-pegged to the yield of 10-year Singapore Government Securities (SGS), plus 1 percentage point.
i) The government will keep the 4 percent floor for the SMRA rate for the first two years.

c) These monies mentioned above shall not be allowed to be used for investment from 1st Jan 08

Oh no!!! I will not be able to invest my CPF monies soon. I'm really a poor adviser who sadly cannot earn enough to have adequate CPF funds to invest... Sob...Sob...

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