cpf historical rates

[chopra]

https://www.cpf.gov.sg/askjamie/user/uploads/Historical interest rates Q1 2021.pdf


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[chopra]

does anyone know how to derive the numbers based on footnote 14? based on sora?


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[reddevil0728]

https://www.cpf.gov.sg/member/growi...ng-higher-returns/earning-attractive-interest
this?

 

[lzydata]

the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1% (subject to the current floor interest rate of 4% per annum).

The 10YSGS rose above 3% very recently for the first time since 2008, and has now pulled back again. If it can hold above 3% for 12 months, we may see the SMRA* rise above 4% for the first time since even further back - June 1999. Before some members here were even born, I bet

* From the historical rates PDF, seems MA was at 2.5% until Sep 2001.

 

[chopra]

CPFB | Earning attractive interest
To help boost retirement savings, the Government pays extra interest on the first $60,000 of your combined balances, which is capped at $20,000 for

www.cpf.gov.sg
this?

ya


Ordinary Account interest rate
Interest rate from 1 July 2022 to 30 September 2022: 2.5% per annum
Reviewed quarterly, this rate is computed based on the 3-month average of major local banks' interest rates1 (subject to the legislated minimum interest of 2.5% per annum).

1 0.09% for the period from February 2022 to April 2022


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[fr33d0m]

for the young, higher interest rate is better as inflation is always ahead of interest rate, bad for the retired.

 

[sohguanh]

I read elsewhere with increasing rate as seen even from mas SSB T-bill it is hard for CPF not to adjust rate. If it remain unchanged means SSB T-bill will be capped at 2.5% for the first year? I know CPF 2.5 , 4 remain unchanged since I started work many years ago

 

[reddevil0728]

I read elsewhere with increasing rate as seen even from mas SSB T-bill it is hard for CPF not to adjust rate. If it remain unchanged means SSB T-bill will be capped at 2.5% for the first year? I know CPF 2.5 , 4 remain unchanged since I started work many years ago

CPF doesn't adjust rate based on senitments. they adjust rate based on a formula.

and the formula is what's stated above.

if bank doesn't increase, then CPF by virtue of the formula wouldn't increase. unless they change the formula.

 

[fr33d0m]

CPF doesn't adjust rate based on senitments. they adjust rate based on a formula.

and the formula is what's stated above.

if bank doesn't increase, then CPF by virtue of the formula wouldn't increase. unless they change the formula.

If the bank does not increase, people can just go SSB. Pre-SSB era, depositors are really not much choice. Not any more.

 

[reddevil0728]

If the bank does not increase, people can just go SSB. Pre-SSB era, depositors are really not much choice. Not any more.

Uhuh?

 

[CaptainWu]

Anyone has any insight or historical reference on how the OA interest could be in the near future? That is the 3-month average bank rate interest. US is expected to end the year with 3.4% per average forecast, so probably another 2% or so to be raised. Do we normally follow in Singapore?

 

[reddevil0728]

Anyone has any insight or historical reference on how the OA interest could be in the near future? That is the 3-month average bank rate interest. US is expected to end the year with 3.4% per average forecast, so probably another 2% or so to be raised. Do we normally follow in Singapore?

historical. already posted on top by someone.

in future also posted by someone on how OA interest is determined.

how banks decide is up to them

 

[sohguanh]

If the bank does not increase, people can just go SSB. Pre-SSB era, depositors are really not much choice. Not any more.

Pre-SSB era will be the bank FD. This explains why now SSB need CDP account confuse those ppl that generation but some got kids to teach them

 

[fr33d0m]

Pre-SSB era will be the bank FD. This explains why now SSB need CDP account confuse those ppl that generation but some got kids to teach them

SSB does not have term exactly, closer to demand deposit FD all have terms.

 

[sohguanh]

SSB does not have term exactly, closer to demand deposit FD all have terms.

Term is the period 1 2 3 etc years?

 

[fr33d0m]

Term is the period 1 2 3 etc years?

Yes.

 

[churnmaster]

ya


Ordinary Account interest rate
Interest rate from 1 July 2022 to 30 September 2022: 2.5% per annum
Reviewed quarterly, this rate is computed based on the 3-month average of major local banks' interest rates1 (subject to the legislated minimum interest of 2.5% per annum).

1 0.09% for the period from February 2022 to April 2022


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Banks won’t increase interest rates on their savings account. They may tinker with rates in high yielding accounts, which they classify as current account and their FD rates.

 

[reddevil0728]

Banks won’t increase interest rates on their savings account. They may tinker with rates in high yielding accounts, which they classify as current account and their FD rates.

Why you say so with such confidence?

 

[churnmaster]

Why you say so with such confidence?

Because that’s what we have seen even before the turn of the century, when interest rates were much higher than today.

 

[reddevil0728]

Because that’s what we have seen even before the turn of the century, when interest rates were much higher than today.

That might be the history but that does not necessary inform about the future no?