CPFB | Earning CPF interest (2024)

Reviewed quarterly, this rate is computed based on the 3-month average of major local banks' interest rates¹(subject to the legislated minimum interest of 2.5% per annum).

¹0.66% for the period from August 2023 to October 2023.

Reviewed quarterly, this rate is computed based on the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%² (subject to the current floor interest rate of 4% per annum³).

²4.08% for the period from November 2022 to October 2023.

³To help CPF members grow their savings, the Government will further extend the 4% floor rate for interest earned on all Special, MediSave and Retirement savings until 31 December 2024.

Reviewed quarterly⁴,this rate is computed based on the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%⁵ (subject to the current floor interest rate of 4% per annum⁶).

⁴The Retirement Account (RA) interest rate peg will be aligned to that of the Special and MediSave Account and computed quarterly instead of annually from 1 January 2024. This change will allow the RA interest rate to be more responsive to the prevailing interest rate environment.

⁵4.08% for the period from November 2022 to October 2023.

⁶To help CPF members grow their savings, the Government will further extend the 4% floor rate forinterest earned on all Special, MediSave and Retirement savings until 31 December 2024.