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
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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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