TL;DR
CPF interest rates have not gone up with rising interest rates, as you are still receiving the minimum interest rate legislated by the government which exceeds the calculated market-based rate. CPF interest rates are likely to remain unchanged for now, unless interest rates rise significantly and stay elevated for an extended period of time. The last time interest rates on the CPF OA account rose above 2.5% was in 1995-1999, when interest rates were at significantly higher levels than where they are currently. With the CPF interest rate staying where it is, the good news is that the HDB concessionary interest rate which is pegged at 0.1% above the OA interest rate, also remains unchanged at 2.6% per annum from 1 October to 31 December 2022.
What happened?
Many in the Beansprout community have asked us whether the CPF interest rates will rise with the soaring interest rates in recent months. After...
