CPF To Extend 4% Interest
Friday, 1st January 2010
The Singapore Government has extend the 4 per cent floor (minimum rate) for interest on CPF savings for the Special, Medisave and Retirement Accounts (SMRA) until 31 December 2011. Explaining the move in a statement, the spokeperson said that despite Singapore's strong economic recovery, interest rates have remained low this year. And when on to say, added that the sharp drop in interest rates at the expiry of the 4 per cent floor rate may impact CPF members who may not have benefited fully from the economic recovery yet.