I was alerted this morning when browsing through my social media feeds and found several financially savvy folks lurking around chatting about how much CPF interest they will be receiving at the end of 2020.
It piqued my curiosity so I went to log in online through the new apps (I love how slick is the new apps by the way) to check my own CPF interest balance.
The apps showed me interests that were credited to my account, which was broken down into the Ordinary Account, Special Account, and Medisave Account.
The total sum of interests credited for the year 2020 is $7,663.25, which is just an 8.6% increase from the previous year. The sum of interests credited for the previous year was $7,054.43.
Really not too bad given how many companies have cut or defer dividends in 2020 due to Covid.
It brings the total CPF balance as of 1 January 2021 to $200,219.49, still well below the FRS requirement to be able to retire decently.