Yay! KPO’s CPF has hit a milestone, my SA (Special Account) has hit its first $40,000!
If you are wondering, what is the big deal? It is just 4/5% of risk-free interest (for now) that can be compounded for many many years :) I have been transferring my OA to SA ever since I started working. The reason why I can do this is that I do not have any liability/mortgage to pay as of now. Going forward, I will stop transferring as I need to build up my OA for my house in 2019!
Anyway, the interest rates for our CPF are as follows:
These interest rates include an extra 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA).
To be more specified, OA has 2.5% interest with an additional 1% on the first $20,000 (3.5%) and 4% for SA and …