1998 4.48
1999 4.56
2000 4.09
2001 3.97
2002 2.55
2003 3.75
2004 2.58
2005 3.21
2006 3.05
2007 2.68
2008 2.05
2009 2.66
2010 2.71
2011 1.63
2012 1.30
who proposed this should be executed, it is obvious that it will be much lower than 4%
1998 4.48
1999 4.56
2000 4.09
2001 3.97
2002 2.55
2003 3.75
2004 2.58
2005 3.21
2006 3.05
2007 2.68
2008 2.05
2009 2.66
2010 2.71
2011 1.63
2012 1.30
who proposed this should be executed, it is obvious that it will be much lower than 4%
Ride at your own risk !!!
They are extending the 4% for another 1 year.
http://mycpf.cpf.gov.sg/CPF/News/New...tember2012.htm
News Release by:
Central Provident Fund Board
26 September 2012 --
One–Year Extension of 4% Floor Rate for all SMRA Monies
Since 1 January 2008, savings in the Special, Medisave and Retirement Account (SMRA) have been invested in Special Government Securities (SSGS) which earn an interest rate pegged to the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%. This is a market-based rate for instruments of comparable risk and duration, and will ensure that members receive fair and reasonable interest rates.To help members cope with the transition, the Government had committed to providing a 4% floor rate for SMRA interest for two years up to December 2009. This was subsequently extended in light of global economic conditions and the fact that interest rates had been exceptionally low. The 4% floor rate is currently due to expire on 31 December 2012.In view of the continuing uncertainty in the global economy and low interest rate environment, the Government has decided to further extend the 4% floor rate for interest earned on all SMRA monies for another year until 31 December 2013. SMRA monies which form the first $60,000 of a member’s combined balances will therefore continue to earn a 5% interest rate.
From 1 January 2014, the SMRA rates will be pegged to the 12-month average yield of 10YSGS plus 1%, subject to the statutory floor rate of 2.5% per annum that applies to all CPF accounts.
Bro ghost, I was not aware of this until you pointed it out.
meaning at least 2.5% from 2014?Originally Posted by buttercarp
That part I also don't really understand.Originally Posted by leesg123
But I gather that, in the worst case scenario, it will not be lower than 2.5% from 2014.
Bro phantom, please enlighten us?
later on govt will squeeze you jialat jialat again...
- more percentage of $$ goes to SA/MA and less to OA
- employees need to contribute more to CPF...
- age for cpf withdrawal extended and extended again, until 1-2yrs before entering coffin... just in time enough to buy coffin....
and, BIG Reason for new changes in CPF regulation: because your cpf interest rate cannot catch up with inflation (2.5% vs 5%)... so you need to "set aside" more cpf-$$ for your old age... govt always take care and plan ahead for us...
http://mycpf.cpf.gov.sg/CPF/News/New...tember2012.htm
http://mycpf.cpf.gov.sg/CPF/News/New...tember2011.htmMINIMUM 4% INTEREST RATE FOR SPECIAL, MEDISAVE AND RETIREMENT ACCOUNT MONIES TO BE EXTENDED UNTIL 31 DECEMBER 2013
"From 1 January 2014, the SMRA rates will be pegged to the 12-month average yield of 10YSGS plus 1%, subject to the statutory floor rate of 2.5% per annum that applies to all CPF accounts."
http://mycpf.cpf.gov.sg/CPF/News/New...20Sept2010.htmMINIMUM 4% INTEREST RATE FOR SPECIAL, MEDISAVE AND RETIREMENT ACCOUNT MONIES TO BE EXTENDED UNTIL 31 DECEMBER 2012
"From 1 Jan 2013, the SMRA rates will be pegged to the 12-month average yield of 10YSGS plus 1%, subject to a floor rate of 2.5% per annum."
MINIMUM 4% INTEREST RATE FOR SPECIAL, MEDISAVE AND RETIREMENT ACCOUNT MONIES TO EXTEND UNTIL 31 DECEMBER 2011
The Government has decided to further extend the 4% floor rate for interest earned on all SMRA monies for another year until 31 December 2011. Thereafter, interest rates on all CPF account monies will be subject to a minimum rate of 2.5% per annum.
So let's hope that they will continue to keep it in status quo.
Can you imagine the political fallout if SMRA accounts were to breach the minimum 4% interest rate?
we are at the mercy of PAP's goodwill ... inflation is so high yet CPF SA only at 2.5% and cannot be used for properties, stocks etc??
WHAT a joke
Ride at your own risk !!!
My cpf money is used to buy properties. No matter wat the rate it doesn't really matter.
Never depend on government to feed u. Always depend on urself. The gov just create the good playing field for u. Make best use of it
aiyo ... this is CPF SMRA ... not CPF OAOriginally Posted by Allthepies
Ride at your own risk !!!
Bro, allthepies has some truth to what he said... Do your homework...Originally Posted by phantom_opera
I said some. Not all...
FYI
http://www.cpf.gov.sg/cpf_info/Publi...seSASaving.pdf
Too lazy to find latest
Standing from Policy makers' point of view,
if the objective is to get more CPF from residents,
no need to cut interest rate lah,
just raise the Minimum Sum will do the trick.
Cheers!
Richard
read that the more you rise the minimum sum, the more difficult for you to touch and smell your money when old & sickOriginally Posted by richwang
I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)
Originally Posted by Allthepies
Yeah ! that why people all go buy prop and collect rent. 3% these days. but risk is int goes up it not easy to liquidate property.
so property are for those who can really hold.
if not go buy OLAM rights!!! 13 % Rights + warrant
What if end up nothing?
Better don't be greedy, too good to be true at 13%!
Originally Posted by minority
simplistic way to look at it as using CPF to buy ppty also "frees up" the cash in the CPF via rental income.
actually upping the minimum sum significantly is another CM because less CPF available for condo purchase.
Originally Posted by teddybear
like that then better withdraw all the $ stack at home and sit on it.
ummm....
even you don't use your cpf to buy olam hor... temasek also use your cpf to buy....