Hi all,
it is just released that Central Provident Fund (CPF) members will continue to receive interest rate of 4 per cent per annum on their Special Account (SA) and MediSave Account (MS) until 30th September 2010.
From 2008 onwards, the interest of SA and MS has been pegged to the average 12-month yield of 10-year Singapore Government Securities plus 1 per cent, adjusted quarterly.
Currently, it is 3.59 per cent. But since, this is below the minimum rate of 4 per cent, it will remain 4 per cent until 30th September 2010.
From next year onwards, the minimum rate for all accounts will be at 2.5 per cent instead...
Max Tay
www.CashFlowGame.com.sg
Written on Wednesday, 16 June 2010 02:43 by Max Tay