All CPF interests to be 2.5% after 2010

"To help members cope with the current economic climate, the Government will maintain the 4% floor rate for interest earned on all Special and Medisave Accounts (SMA) monies and Retirement Account (RA) monies for another year until 31 December 2010. After which, a 2.5% floor rate will apply for all CPF accounts."

Can anyone explain help to explain this.

Meaning after this year all the account in the CPF will be only 2.5 % yearly, including Retirement, Special, medisave.

Then in previous ads still ask us to put our ordinary money to special, now who put all stuck liao, interest same, only thing is money cannot touch anymore.

----------------------------------------
Utopia
Ya... feel like a trap. It's one-directional OA to SA.
Now everyone who do that stuck there and can not use the money to earn extra 2% interest.

You can't do much with SA, and lose the flexibility to use OA to buy HDB or study.
----------------------------------------

Lasagnia
Post subject: Re: All CPF interest to be 2.5 % after 2010
Oppostion wrote:
"To help members cope with the current economic climate, the Government will maintain the 4% floor rate for interest earned on all Special and Medisave Accounts (SMA) monies and Retirement Account (RA) monies for another year until 31 December 2010. After which, a 2.5% floor rate will apply for all CPF accounts."

Can anyone explain help to explain this.

Meaning after this year all the account in the CPF will be only 2.5 % yearly, including Retirement, Special, medisave.

Then in previous ads still ask us to put our ordinary money to special, now who put all stuck liao, interest same, only thing is money cannot touch anymore.

This is like carry trade lah!
Use cheap cheap money to make
large profit you keep for interest group.
-------------------------------------------
sgxnewbie

the question here is why they cannot give 4% anymore. what happen??
--------------------------------------------
Utopia
GIC investment setback could be one of the reason.

No comments:

Post a Comment