SINGAPORE - Central Provident Fund (CPF) members, both under and above 55, will continue to earn extra interest in the second quarter of 2025, announced the CPF Board and Housing Board on March 12.
The authorities said that the move is part of the Government’s efforts to boost the retirement savings for CPF members.
Members aged below 55 will earn an extra 1 per cent interest on the first $60,000 of their combined balances, capped at $20,000 for their Ordinary Accounts (OA).
For members aged 55 and above, the Government pays an extra 2 per cent interest on the first $30,000 of their combined balances (capped at $20,000 for OA), and an extra 1 per cent on the next $30,000.
The extra interest earned on the OA balances will go into the member’s Special Account or Retirement Account.
If a member is aged above 55 and participates in CPF Life, the extra interest will still be earned on his or her combined CPF balances, which includes the savings used for CPF Life.
CPF Life provides monthly payouts to CPF members for as long as they live, from the age of 65.
Savings in Special, MediSave and Retirement Accounts (SMRA) will continue to earn the floor rate of 4 per cent per annum in the second quarter of 2025, as the pegged rate - to the 12-month average yield of 10-year Singapore Government Securities plus 1 per cent - has remained below the floor rate.
OA interest rates will also remain unchanged at the floor rate of 2.5 per cent per annum in the second quarter of 2025, as the OA pegged rate remains below the floor rate.
Correspondingly, the concessionary interest rate for HDB housing loans, which is pegged at 0.1 per cent above the OA interest rate, will remain unchanged at 2.6 per cent per annum in the second quarter of 2025.
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