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CPF interest rates from 1 January 2018 to 31 March 2018 and Basic Healthcare Sum for 2018<br>  <table width="100%" border="0" cellspacing="0" cellpadding="2"><tbody><tr bgcolor="#dddddd"><td colspan="2"><p style="text-align:left;"> <strong>CPF interest rates from 1 January 2018 to 31 March 2018</strong></p><ul><li> <strong>Up to 3.5% per annum on the Ordinary Account</strong></li><li> <strong>Up to 5% per annum on the Special and Medisave Accounts</strong></li><li> <strong>Up to 5% per annum on the Retirement Account</strong></li><li> <strong>CPF members aged 55 and above will earn an additional 1% extra interest on the first $30,000 of their combined balances</strong></li></ul><p> <strong></strong> </p><p> <strong>HDB mortgage rate from 1 January 2018 to 31 March 2018</strong></p><ul><li> <strong>Remains unchanged at 2.6% per annum</strong></li></ul><p> <strong></strong> </p><p> <strong>Basic Healthcare Sum (BHS) for 2018</strong></p><ul><li> <strong>For members below 65 years old in 2018, BHS will be $54,500</strong></li><li> <strong>For members who turn 65 years old in 2018, BHS will be $54,500 and will not change for the rest of their lives</strong><br> </li></ul></td></tr></tbody></table><p> </p><p>Central Provident Fund (CPF) members will continue to earn interest rates of up to 3.5% per annum on their Ordinary Account (OA) monies, and up to 5% per annum on their Special and Medisave Accounts (SMA) monies in the first quarter of 2018. CPF members will also earn up to 5% per annum on their Retirement Account (RA) monies in 2018. These interest rates include an extra 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA) which is part of the Government’s efforts to enhance the retirement savings of CPF members.</p><p>CPF members aged 55 and above will also earn an additional 1% extra interest on the first $30,000 of their combined balances. This is paid over and above the current extra 1% interest that is earned on the first $60,000 of their combined balances. As a result, CPF members aged 55 and above will earn up to 6% interest per year on their retirement balances.</p><p>The extra interest received on the OA will go into the member’s Special Account (SA) or RA to enhance his or her retirement savings. If a member is above 55 years old and participates in the CPF LIFE scheme, the extra interest will still be earned on his or her combined balances, which includes the savings used for CPF LIFE.</p><p> </p><p> <strong>Interest rate for Ordinary Account and HDB mortgage rate</strong></p><p>The OA interest rate will be maintained at 2.5% per annum from 1 January 2018 to 31 March 2018, as the computed rate of 0.24% is lower than the legislated minimum interest rate.</p><p>Correspondingly, the concessionary interest rate for HDB mortgage loans, which is pegged at 0.1% above the OA interest rate, will remain unchanged at 2.6% per annum from 1 January 2018 to 31 March 2018.</p><p>Please refer to <a href="#AnnexA">Annex A</a> for the detailed computation of the OA interest rate and HDB mortgage rate.</p><p>   <strong></strong></p><p> <strong>Interest rate for Special and Medisave Accounts</strong></p><p>The SMA interest rate will be maintained at 4% per annum from 1 January 2018 to 31 March 2018, as the computed rate of 3.20% is lower than the current floor interest rate of 4% per annum.</p><p>Please refer to <a href="#AnnexB">Annex B</a> for the detailed computation of the SMA interest rate.</p><p>   <strong></strong></p><p> <strong>Interest rate for Retirement Account</strong></p><p>The RA interest rate will be maintained at 4% per annum from 1 January 2018 to 31 December 2018, as announced on 22 September 2017.</p><p>Please refer to <a href="#AnnexC">Annex C</a> for the detailed computation of the RA interest rate.</p><p>    <strong></strong></p><p> <strong>2018 Basic Healthcare Sum</strong></p><p>The Basic Healthcare Sum (BHS) is the estimated savings required for basic subsidised healthcare needs in old age. The BHS is adjusted yearly for members below age 65 to keep pace with the growth in Medisave withdrawals. Once members reach age 65, their BHS will be fixed for the rest of their lives.</p><p>From 1 January 2018,</p><ol><li>For members below 65 years old, their BHS will be raised from $52,000 to $54,500.</li><li>For members who turn 65 years old in 2018, their BHS will be fixed at $54,500, which will not change for the rest of their lives.</li></ol><p> <br>For members aged 66 and above in 2018, their cohort BHS had already been fixed and will remain unchanged.</p><p>BHS is the cap to the Medisave Account and contributions in excess of a member’s BHS will be automatically transferred to his other CPF accounts. A higher BHS will allow for more savings to be kept in a member’s Medisave Account for their healthcare needs. CPF members do not have to top up their Medisave Accounts if they do not meet the BHS.</p><p>    <strong></strong></p><p> <strong>Public enquiries</strong></p><p>CPF members can visit <a href="https://www.cpf.gov.sg/">cpf.gov.sg</a> or call the CPF Call Centre at 1800-227-1188 for enquiries.</p><p> </p> <p> </p><div align="right"> <a name="AnnexA"></a><strong>Annex A<br></strong></div><div align="right"> <strong>​​<br></strong></div><p> <strong>Computation of CPF OA interest rate and HDB mortgage rate for 1 January 2018 to 31 March 2018</strong><br><br>The interest rate on OA monies is adjusted quarterly. OA monies earn either the legislated minimum interest of 2.5% per annum, or the 3-month average of major local banks’ interest rates, whichever is higher.</p><p> </p> <img alt="CPF OA interest rate and HDB mortgage rate for 1 January 2018 to 31 March 2018" src="/Assets/common/PublishingImages/16Nov17_CPFInterestRates_AnnexATable1.png" style="width:100%;" /> <p> ​</p><p align="center" style="text-align:left;"> <strong>Note:</strong></p> <img alt="Banks’ interest rate for Aug 2017 to Oct 2017" src="/Assets/common/PublishingImages/16Nov17_CPFInterestRates_AnnexA_Table2.png" style="width:100%;" /> ​ <br>(1) Balances of $20,000 to < $50,000<br>(2) Balances > $20,000 to $50,000 <br>(3) Balances < $50,000 <br>(4) Balances > $10,000 to $100,000 (AUTO-SAVE Account) <br>(5) Balances ≤ $100,000 (EASI-SAVE Account) <br>(6) Balances > $15,000 to $100,000 (UNIPLUS Account) <table width="100%" border="0"><tbody><tr></tr><tr><td colspan="4"></td></tr></tbody></table><div align="right"> <a name="AnnexB"></a><br><strong>Annex B</strong></div>   <table width="100%" border="0" cellspacing="0" cellpadding="2" style="height:930px;"><tbody><tr><td colspan="2"> <strong>Computation of CPF SMA interest rate for 1 January 2018 to 31 March 2018</strong></td></tr><tr><td colspan="2"><p> <br>The interest rate on SMA monies is adjusted quarterly. SMA monies earn either the current floor interest rate of 4% per annum or the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%, whichever is higher.<br></p><p> <br></p> <img alt="CPF SMA interest rate for 1 January 2018 to 31 March 2018" src="/Assets/common/PublishingImages/16Nov17_CPFInterestRates_AnnexB_Table1.png" style="width:100%;" /> <p> </p></td></tr><tr><td height="2" valign="top"> </td><td height="2" valign="top"><p align="center" style="text-align:left;"> <strong>Note:</strong></p><p align="center">​ <img alt="10-Year SGS Yield" src="/Assets/common/PublishingImages/10YRSGS_16Nov2017.png" style="width:100%;height:auto;" /><br></p></td></tr><tr><td>  </td><td><p align="left">Source: Yields of 10-Year Singapore Government Securities are obtained from <a href="http://www.sgs.gov.sg/" target="_blank">www.sgs.gov.sg</a></p></td></tr><tr><td> </td></tr><tr></tr><tr><td height="2" valign="top"> </td><td height="2" valign="top"><div align="right"> <a name="AnnexC"></a><strong>Annex C</strong></div></td></tr><tr><td height="2" valign="top"> </td><td height="2" valign="top"> </td></tr><tr><td height="2" valign="top"> </td><td height="2" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="2"><tbody><tr><td colspan="2"><p> <strong>Computation of CPF RA interest rate for 1 January 2018 to 31 December 2018</strong></p></td></tr><tr><td colspan="2">RA monies credited in 2018 will be invested in newly-issued Special Singapore Government Securities (SSGS) which will earn a fixed coupon rate equal to either the 12-month average yield of the 10YSGS plus 1% computed for the year, or the current floor rate of 4% per annum, whichever is higher.</td></tr><tr><td valign="top"> </td></tr><tr><td colspan="2">The average yield of the 10YSGS plus 1% from November 2016 to October 2017 is 3.20% per annum. As this is below the current floor rate of 4% per annum, new SSGS issued in the year of 2018 will pay a fixed coupon of 4%.</td></tr><tr><td valign="top"> </td></tr><tr><td colspan="2">The interest rate earned by RA monies is the weighted average interest rate of the entire portfolio of these SSGS, which is adjusted in January each year to take into account the coupon rates payable by the new SSGS issuance.</td></tr></tbody></table></td></tr></tbody></table> <br>CPF interest rates from 1 January 2018 to 31 March 2018 and Basic Healthcare Sum for 2018TrueTrue

 

 

CPF interest rates from 1 January 2018 to 31 March 2018 and Basic Healthcare Sum for 2018<br>  <table width="100%" border="0" cellspacing="0" cellpadding="2"><tbody><tr bgcolor="#dddddd"><td colspan="2"><p style="text-align:left;"> <strong>CPF interest rates from 1 January 2018 to 31 March 2018</strong></p><ul><li> <strong>Up to 3.5% per annum on the Ordinary Account</strong></li><li> <strong>Up to 5% per annum on the Special and Medisave Accounts</strong></li><li> <strong>Up to 5% per annum on the Retirement Account</strong></li><li> <strong>CPF members aged 55 and above will earn an additional 1% extra interest on the first $30,000 of their combined balances</strong></li></ul><p> <strong></strong> </p><p> <strong>HDB mortgage rate from 1 January 2018 to 31 March 2018</strong></p><ul><li> <strong>Remains unchanged at 2.6% per annum</strong></li></ul><p> <strong></strong> </p><p> <strong>Basic Healthcare Sum (BHS) for 2018</strong></p><ul><li> <strong>For members below 65 years old in 2018, BHS will be $54,500</strong></li><li> <strong>For members who turn 65 years old in 2018, BHS will be $54,500 and will not change for the rest of their lives</strong><br> </li></ul></td></tr></tbody></table><p> </p><p>Central Provident Fund (CPF) members will continue to earn interest rates of up to 3.5% per annum on their Ordinary Account (OA) monies, and up to 5% per annum on their Special and Medisave Accounts (SMA) monies in the first quarter of 2018. CPF members will also earn up to 5% per annum on their Retirement Account (RA) monies in 2018. These interest rates include an extra 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA) which is part of the Government’s efforts to enhance the retirement savings of CPF members.</p><p>CPF members aged 55 and above will also earn an additional 1% extra interest on the first $30,000 of their combined balances. This is paid over and above the current extra 1% interest that is earned on the first $60,000 of their combined balances. As a result, CPF members aged 55 and above will earn up to 6% interest per year on their retirement balances.</p><p>The extra interest received on the OA will go into the member’s Special Account (SA) or RA to enhance his or her retirement savings. If a member is above 55 years old and participates in the CPF LIFE scheme, the extra interest will still be earned on his or her combined balances, which includes the savings used for CPF LIFE.</p><p> </p><p> <strong>Interest rate for Ordinary Account and HDB mortgage rate</strong></p><p>The OA interest rate will be maintained at 2.5% per annum from 1 January 2018 to 31 March 2018, as the computed rate of 0.24% is lower than the legislated minimum interest rate.</p><p>Correspondingly, the concessionary interest rate for HDB mortgage loans, which is pegged at 0.1% above the OA interest rate, will remain unchanged at 2.6% per annum from 1 January 2018 to 31 March 2018.</p><p>Please refer to <a href="#AnnexA">Annex A</a> for the detailed computation of the OA interest rate and HDB mortgage rate.</p><p>   <strong></strong></p><p> <strong>Interest rate for Special and Medisave Accounts</strong></p><p>The SMA interest rate will be maintained at 4% per annum from 1 January 2018 to 31 March 2018, as the computed rate of 3.20% is lower than the current floor interest rate of 4% per annum.</p><p>Please refer to <a href="#AnnexB">Annex B</a> for the detailed computation of the SMA interest rate.</p><p>   <strong></strong></p><p> <strong>Interest rate for Retirement Account</strong></p><p>The RA interest rate will be maintained at 4% per annum from 1 January 2018 to 31 December 2018, as announced on 22 September 2017.</p><p>Please refer to <a href="#AnnexC">Annex C</a> for the detailed computation of the RA interest rate.</p><p>    <strong></strong></p><p> <strong>2018 Basic Healthcare Sum</strong></p><p>The Basic Healthcare Sum (BHS) is the estimated savings required for basic subsidised healthcare needs in old age. The BHS is adjusted yearly for members below age 65 to keep pace with the growth in Medisave withdrawals. Once members reach age 65, their BHS will be fixed for the rest of their lives.</p><p>From 1 January 2018,</p><ol><li>For members below 65 years old, their BHS will be raised from $52,000 to $54,500.</li><li>For members who turn 65 years old in 2018, their BHS will be fixed at $54,500, which will not change for the rest of their lives.</li></ol><p> <br>For members aged 66 and above in 2018, their cohort BHS had already been fixed and will remain unchanged.</p><p>BHS is the cap to the Medisave Account and contributions in excess of a member’s BHS will be automatically transferred to his other CPF accounts. A higher BHS will allow for more savings to be kept in a member’s Medisave Account for their healthcare needs. CPF members do not have to top up their Medisave Accounts if they do not meet the BHS.</p><p>    <strong></strong></p><p> <strong>Public enquiries</strong></p><p>CPF members can visit <a href="https://www.cpf.gov.sg/">cpf.gov.sg</a> or call the CPF Call Centre at 1800-227-1188 for enquiries.</p><p> </p> <p> </p><div align="right"> <a name="AnnexA"></a><strong>Annex A<br></strong></div><div align="right"> <strong>​​<br></strong></div><p> <strong>Computation of CPF OA interest rate and HDB mortgage rate for 1 January 2018 to 31 March 2018</strong><br><br>The interest rate on OA monies is adjusted quarterly. OA monies earn either the legislated minimum interest of 2.5% per annum, or the 3-month average of major local banks’ interest rates, whichever is higher.</p><p> </p> <img alt="CPF OA interest rate and HDB mortgage rate for 1 January 2018 to 31 March 2018" src="/Assets/common/PublishingImages/16Nov17_CPFInterestRates_AnnexATable1.png" style="width:100%;" /> <p> ​</p><p align="center" style="text-align:left;"> <strong>Note:</strong></p> <img alt="Banks’ interest rate for Aug 2017 to Oct 2017" src="/Assets/common/PublishingImages/16Nov17_CPFInterestRates_AnnexA_Table2.png" style="width:100%;" /> ​ <br>(1) Balances of $20,000 to < $50,000<br>(2) Balances > $20,000 to $50,000 <br>(3) Balances < $50,000 <br>(4) Balances > $10,000 to $100,000 (AUTO-SAVE Account) <br>(5) Balances ≤ $100,000 (EASI-SAVE Account) <br>(6) Balances > $15,000 to $100,000 (UNIPLUS Account) <table width="100%" border="0"><tbody><tr></tr><tr><td colspan="4"></td></tr></tbody></table><div align="right"> <a name="AnnexB"></a><br><strong>Annex B</strong></div>   <table width="100%" border="0" cellspacing="0" cellpadding="2" style="height:930px;"><tbody><tr><td colspan="2"> <strong>Computation of CPF SMA interest rate for 1 January 2018 to 31 March 2018</strong></td></tr><tr><td colspan="2"><p> <br>The interest rate on SMA monies is adjusted quarterly. SMA monies earn either the current floor interest rate of 4% per annum or the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%, whichever is higher.<br></p><p> <br></p> <img alt="CPF SMA interest rate for 1 January 2018 to 31 March 2018" src="/Assets/common/PublishingImages/16Nov17_CPFInterestRates_AnnexB_Table1.png" style="width:100%;" /> <p> </p></td></tr><tr><td height="2" valign="top"> </td><td height="2" valign="top"><p align="center" style="text-align:left;"> <strong>Note:</strong></p><p align="center">​ <img alt="10-Year SGS Yield" src="/Assets/common/PublishingImages/10YRSGS_16Nov2017.png" style="width:100%;height:auto;" /><br></p></td></tr><tr><td>  </td><td><p align="left">Source: Yields of 10-Year Singapore Government Securities are obtained from <a href="http://www.sgs.gov.sg/" target="_blank">www.sgs.gov.sg</a></p></td></tr><tr><td> </td></tr><tr></tr><tr><td height="2" valign="top"> </td><td height="2" valign="top"><div align="right"> <a name="AnnexC"></a><strong>Annex C</strong></div></td></tr><tr><td height="2" valign="top"> </td><td height="2" valign="top"> </td></tr><tr><td height="2" valign="top"> </td><td height="2" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="2"><tbody><tr><td colspan="2"><p> <strong>Computation of CPF RA interest rate for 1 January 2018 to 31 December 2018</strong></p></td></tr><tr><td colspan="2">RA monies credited in 2018 will be invested in newly-issued Special Singapore Government Securities (SSGS) which will earn a fixed coupon rate equal to either the 12-month average yield of the 10YSGS plus 1% computed for the year, or the current floor rate of 4% per annum, whichever is higher.</td></tr><tr><td valign="top"> </td></tr><tr><td colspan="2">The average yield of the 10YSGS plus 1% from November 2016 to October 2017 is 3.20% per annum. As this is below the current floor rate of 4% per annum, new SSGS issued in the year of 2018 will pay a fixed coupon of 4%.</td></tr><tr><td valign="top"> </td></tr><tr><td colspan="2">The interest rate earned by RA monies is the weighted average interest rate of the entire portfolio of these SSGS, which is adjusted in January each year to take into account the coupon rates payable by the new SSGS issuance.</td></tr></tbody></table></td></tr></tbody></table> <br>CPF interest rates from 1 January 2018 to 31 March 2018 and Basic Healthcare Sum for 201816/11/2017 9:15:00 AMhttps://null/common/Lists/News/DispForm.aspx?ID=2626Central Provident Fund Board and Housing & Development Board

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