I wrote a post around a year ago on if it is still worth it to top up your CPF in a high interest rate environment.
In that post, I talked about how it still make sense to perform Retirement Sum top up to your Special Account as based on the way the SA interest is calculated, there's a high chance that it can go past 4%!
Well one year later, I was right! Sort of.... 0.01% right to be exact! Hahahaha.
CPF Special Account and MediSave Account interest increased by 0.01% for the quarter starting from 1st July to 30 Sept.
Well I am glad that the CPF interest is indeed increasing with the rising interest rate but this is a really modest increase and it is definitely not high enough for me to update the CPFcalculator to reflect this increase.
Thanks for reading and do support me on my referral page. Stay Safe and Happy CPFing!
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I was right! Sort of....
Reviewed by Valuewarrior
on
May 30, 2023
Rating:
Reviewed by Valuewarrior
on
May 30, 2023
Rating:
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Haha..thank you for sharing your thoughts. This minuscule increase is really not worth mentioning. Technically, the SA CPF rate should be pegged to the higher of CPI or long term bond yield to ensure this saving scheme makes sense for retirement planning.
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