What You Need to Know About the Latest CPF Interest Rate Shifts
By SG Money Matters  •  June 8, 2023
If you’ve been following the financial news closely, you may already be aware of the adjustments made to the Central Provident Fund (CPF) interest rates. Since this topic has sparked much interest and conversation among Singaporeans due to the mixed sentiments, in this article, I will be talking about:
  • How the CPF system works.
  • Why there’s a buzz involving CPF interest rates.
  • What impacts do higher CPF interest rates have?
  • How can you optimise your CPF savings?

    What are the components of the CPF System?

    From housing to healthcare, the CPF touches various aspects of our lives. As such, Singaporeans have always been interested in CPF and its components. Let’s break down the system:

    #1 Ordinary Account (OA)

    Savings in your OA earn either the legislated minimum of 2.5% or the 3-month average of significant local banks’ interest rates, whichever is higher. This...
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    By SG Money Matters
    Howdy. My name is Ivan. I am a blogger and fee-based financial adviser. I spent the last decade providing financial advisory services to both individuals and business. My speciality is financial planning for early retirement.

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