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CPF interest rates for Special, MediSave and Retirement accounts to go up
The Straits Times
|December 07, 2023
The interest rate for the Special and MediSave accounts of Central Provident Fund (CPF) members will increase to 4.08 per cent per annum, from 4.04 per cent, for the period from Jan 1 to March 31, 2024.
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The rate hike is due to an increase in the 12-month average yield of 10 year Singapore Government Securities, which the interest rate is pegged to, said the CPF Board, Housing Board and Health Ministry in a joint statement on Dec 6.
The interest rate for the Retirement Account (RA) will also increase to 4.08 per cent, from 4 per cent, for the same period.
From 2024, the RA interest rate peg will be aligned to that of the Special and MediSave accounts and computed quarterly instead of annually.
This story is from the December 07, 2023 edition of The Straits Times.
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