SINGAPORE (Sept 22): In view of the continuing low interest rate environment, the 4% floor rate for interest earned in Special, Medisave and Retirement accounts (SMRA) have been extended for another year until Dec 31 2018.

This was announced by the Central Provident Fund (CPF) Board and the HDB said in a joint press release on Friday

Since Jan 1 2008, savings in the SMRA have been invested in Special Singapore Government Securities which earn an interest rate pegged to the 12-month average yield of 10-year Singapore Government Securities plus 1%.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook