Savings in the SMRA will earn the floor rate of 4 per cent per annum in the first quarter of 2025. PHOTO: LIANHE ZAOBAO
SINGAPORE - The interest rate on the Central Provident Fund (CPF) Special, MediSave and Retirement Accounts (SMRA) will dip to 4 per cent from January to March 2025, from 4.14 per cent this current quarter.
Savings in the SMRA will earn the floor rate of 4 per cent per annum in the first quarter of 2025, as the pegged rate has fallen below the floor rate of 4 per cent, said the joint statement by the Central Provident Fund Board, Housing and Development Board, and Ministry of Health on Dec 11.
“This is due to a decrease in the 12-month average yield of 10-year Singapore Government Securities which the SMRA interest rate is pegged to,” it added.
Also, the Basic Healthcare Sum has been set at $75,000 in 2025 for those below 65 years old - an increase from the cap of $71,500 in 2024.
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