Look at Alex Tan of States Times Review spreading half truths about our CPF rates. Attacking PM Lee saying he depressed our CPF interest rates at only 2.5%.
FYI, our CPF interest rates has always been more than what the banks are offering. And 2.5% is only for the OA account. Not to mention 4% for all the rest of the SA, MA or RA accounts which Alex Tan did not mention in his article!
- http://www.channelnewsasia.com/news/singapore/cpf-interest-rates-to-remain-unchanged/3520668.htmlThe computed Ordinary Account interest rate – derived from the major local banks’ interest rates from November 2016 to January 2017 – was 0.24 per cent a year. As this was below the legislated minimum of 2.5 per cent, the Ordinary Account interest rate will be maintained at the minimum rate, the CPF Board said in a news release.
Likewise, the interest rate for Special and Medisave accounts will be maintained at the current rate of 4 per cent, as the computed interest rate – derived from the 12-month average yield of 10-year Singapore Government Securities plus 1 per cent – worked out to be 3.04 per cent from February 2016 to January 2017, below the floor rate.