#1
September 30th, 2016, 10:00 AM
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CPF SG Interest Rates
I recently visited Singapore and heard a lot about the Central Provident Fund (CPF) want to know basic details related to this. Can you tell about Central Provident Fund (CPF) along with CPF SG Interest Rates also provide me address and contact details of CPF for doing enquiry?
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#2
September 30th, 2016, 10:26 AM
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Re: CPF SG Interest Rates
The Central Provident Fund (CPF) is a comprehensive social security system that enables working Singapore Citizens and Permanent Residents to set aside funds for retirement. CPF SG Interest Rates Central Provident Fund (CPF) members currently earn interest rates of up to 3.5% per annum on their Ordinary Account (OA) monies, and up to 5% per annum on their Special and Medisave Account (SMA) monies. Retirement Account (RA) monies currently earn up to 5% per annum. The above interest rates include an extra 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA). CPF members aged 55 and above will also earn an additional 1% extra interest on the first $30,000 of their combined balances (with up to $20,000 from the OA). As a result, CPF members aged 55 and above will earn up to 6% interest per year on their retirement balances. Interest Rate for Ordinary Account The interest rate on Ordinary Account (OA) monies is reviewed quarterly. OA monies earn either the legislated minimum interest of 2.5% per annum, or the 3-month average of major local banks' interest rates, whichever is higher. Contact: CPF Robinson CPF Robinson Road Service Centre CPF Building (near Tanjong Pagar MRT Station) 79 Robinson Road #02-00 Singapore 068897 Fax: 6220-0268 For Member-related enquiries, please email to member@cpf.gov.sg For Employer-related enquiries, please email to employer@cpf.gov.sg For Direct Debit / GIRO-related enquiries, please email to giro@cpf.gov.sg For Career opportunities-related enquiries, please email to hr@cpf.gov.sg For Other enquiries, please email to cpfboard@cpf.gov.sg |
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