Friday, September 30, 2011

CPF Special, Medisave & Retirement Accounts to remain unchanged at 4%

The Special, MediSave and Retirement Accounts (SMRA) will remain unchanged at four per cent for another year, the Central Provident Fund (CPF) Board revealed on Friday.

This is because of the heightened uncertainty in the global economy and continued low interest rate environment, the CPF Board explained.

The rate of four per cent has been in place since 2008.

It's been extended twice before, once in 2010 and again in 2011, due to the unfavourable global economic conditions and exceptionally low interest rate environment back then.

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