Personal Finance
Extra 1% interest for CPF savings and MSTU.
By A Singaporean Stockmarket Investor (ASSI)  •  December 4, 2015
The following is contributed by a reader: The CPF Board's response is appended below. I've edited the questions and part of the response to mask personal information hence, the flow of CPFB's reply may not make sense but I trust that the key points of interest are in there. Feel free to reproduce it: Question: How would the extra 1% interest earned on OA + SMRA be earned?  The extra 1% interest per year is currently paid on the first $60,000 of a member’s combined CPF balances. The priority of the accounts that make up the $60,000 is as follows:   
  1. Retirement Account (RA), including balances used to pay for the annuity premium under CPF LIFE
  2. Ordinary Account (OA), up to $20,000
  3. Special Account (SA)
  4. Medisave Account (MA)
  In general, CPF interest is computed monthly, and will be credited and compounded to your respective accounts yearly......
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By A Singaporean Stockmarket Investor (ASSI)
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