Wednesday, December 10, 2008

CPF SMRA

SMRA = Special, Medisave, Retirement Account.

  • With effect from 1 Jan 2008, SMRA Interest Rate = 10 Yr SGS Rate + 1%.
  • A floor rate of 4% applies from 1 Jan 2008 to 31 Dec 2009 (2 years).
  • The floor rate will be 2.5% for all CPF accounts from 2010 onwards.

In addition with effect from 1 Apr 2008, the following applies:

  • SMRA = CPF(O) + CPF(S,M)
  • $20K in CPF(O) attracts 3.5% interests, and cannot be invested.
  • $40K in CPF(S,M) attracts 5% interests, and also cannot be invested.

No comments:

Archive

Followers