Interest rate on CPF Special, Medisave Accounts to stay at 4% for Q3 2013

CPF members will continue to receive an interest rate of 4 per cent on their Special and Medisave Accounts (SMA) from 1 July 2013 to 30 September 2013, CPF announced Friday.

This is in line with the government's announcement in September 2012 to maintain the 4 per cent per annum floor rate for interest earned on all SMA monies and Retirement Account (RA) monies until 31 December 2013.

The move is in view of the “continuing uncertainty in the global economy” and “low interest rate environment”.
 
Savings in the SMA currently earn either 4 per cent or the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1 per cent, whichever is higher.
 
The interest rate on SMA savings is adjusted quarterly based on interest rates on 10YSGS over a preceding 12-month period.
 
For more information, please visit www.cpf.gov.sg or call the CPF Call Centre at 1800-227-1188.

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