CPF Rate for SMRA remains as 4% till next year

CPF Board has announced that the CPF interest rate for Spe­cial, Medis­ave and Retire­ment accounts (SMRA) will retain the 4% min­im­um interest rate till end of 2013. It is sup­posed to end this year but due to the low interest envir­on­ment now, CPF Board has decided to extend anoth­er year.

CPF SMRA was sup­posed to peg to the 12-month aver­age yield of 10-year Singa­pore Gov­ern­ment Secur­it­ies plus 1 per cent since 1 Jan 2008. If this for­mula was to be use how, the interest rate for SMRA will only be 2.55%!

So good news to all Singa­por­ean.

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