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QHow is my CPF interest computed and credited into my accounts?
A

CPF interest is computed monthly. It is then credited to your respective accounts and compounded annually. CPF interest earned in 2019 will be credited to members’ CPF accounts by the end of 1 January 2020.

An extra 1% interest per annum will also be paid on the first $60,000 of a member's combined balances.

CPF members will also earn an additional 1% extra interest on the first $30,000 of their combined balances (with up to $20,000 from their OA), beginning from:

  • January 2016, if they are aged 55 and above in January 2016;

  • Else, the month they turn 55 years old.

The priority of the accounts that make up the $60,000 and $30,000 is as follows:

1st: Retirement Account (RA), including balances used to pay for the annuity premium under CPF LIFE

2nd : Ordinary Account (OA), up to $20,000

3rd : Special Account (SA)

4th: MediSave Account (MA)

The extra interest received on the OA will go into the member's SA if he is below 55 years old or RA if he is 55 and above to enhance his retirement savings.

For a member who has joined CPF LIFE scheme, the extra interest earned will be paid into his RA or the CPF LIFE Annuity Fund. Please refer to the CPF LIFE scheme for more information on CPF LIFE.




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