“To help members cope with the current economic climate, the Government will maintain the 4% floor rate for interest earned on all Special and Medisave Accounts (SMA) monies and Retirement Account (RA) monies for another year until 31 December 2010. After 31 December 2010, the 2.5% floor rate will apply for all CPF accounts.
An additional 1% interest will continue to be paid on the first $60,000 of a member’s combined balances, with up to $20,000 from the Ordinary Account (OA). The additional interest received on the OA will go into the member’s SA or RA to enhance his retirement savings. If the member is above 55 years old and participates in the LIFE scheme, the additional 1% interest will also apply to his annuity premium, less annuity payouts already made. The additional interest earned on the member’s LIFE annuity monies will be paid into his RA.”
SOURCE:http://mycpf.cpf.gov.sg/CPF/News/News-Release/N_09Dec2009.htm
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