30 Sep '11, 8am

CPF extends 4% interest rates for Special, Medisave & Retirement Accounts to 2012

CPF extends 4% interest rates for Special, Medisave & Retirement Accounts to 2012

The Central Provident Fund has decided to further extend the 4% floor rate for interest earned on all Special, MediSave and Retirement Account monies for another year until Dec 31, 2012. -- ST PHOTO: MALCOLM MCLEOD The Special, MediSave and Retirement Accounts (SMRA) will remain unchanged at four per cent for another year, the Central Provident Fund (CPF) Board revealed on Friday. This is because of the heightened uncertainty in the global economy and continued low interest rate environment, the CPF Board explained. The rate of four per cent have been in place since 2008. It's been extended twice before, once in 2010 and again in 2011, due to the unfavourable global economic conditions and exceptionally low interest rate environment back then.

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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