SINGAPORE: The minimum interest rate for Central Provident Fund accounts will remain unchanged, the board of Singapore's retirement savings scheme announced on Monday .
"The Government had committed to maintaining a floor of 4 per cent on SMRA interest and had subsequently extended the floor in light of the global economic conditions and the fact that interest rates had been exceptionally low," said the news release. These rates include an extra 1 per cent paid on the first S$60,000 of a member's combined balances - part of the Government's efforts to enhance the retirement savings of CPF members, the authorities said.
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