Support My Efforts By Visiting The Advertisers


This is a personal blog. The opinions expressed here represent my own, not those of my employer and is not intended to malign any religion, ethnic group, club, organization, company, or individual.

CPF 4% floor rate extended

>> Sunday, September 6, 2009

Straits Times, 5 Sep 2009.
By Goh Chin Lian

Central Provident Fund (CPF) members will continue to get an interest floor rate of 4 per cent on their CPF SMRA savings for another year.

Manpower Minister Gan Kim Yong on Saturday cited unusually low interest rates in the current recession for the Government's decision to extend the minimum rate guaranteed for the Special, Medisave and Retirement Accounts (SMRA) until December next year.

'Without the 4 per cent floor, the computed interest rate on SMRA funds for the fourth quarter of 2009 would be 3.4 per cent. The rate is not likely to improve significantly by the first quarter of next year.'

This new rate, introduced since January last year, is pegged to the interest rate of 10-year Singapore Government Securities plus 1 percentage point.

Mr Gan said the extension of the floor rate of 4 per cent will apply to CPF Life funds as well until December next year.




The owner of this blog does not share personal information with third-parties nor does the owner store information is collected about your visit for use other than to analyze content performance through the use of cookies, which you can turn off at anytime by modifying your Internet browser’s settings. The owner is not responsible for the republishing of the content found on this blog on other Web sites or media without permission.

Blog Comments

The owner of this blog reserves the right to edit or delete any comments submitted to this blog without notice due to;

1. Comments deemed to be spam or questionable spam
2. Comments including profanity
3. Comments containing language or concepts that could be deemed offensive
4. Comments that attack a person individually

Terms and Conditions

All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.

This policy is subject to change at anytime.

About This Blog

To promote the education of individuals for the need to have a healthy lifestyle and wealth management through proper financial planning, particularly in investments.

Top Blogs


Top Sites

  © Blogger templates Sunset by 2008

Back to TOP