CPF interest for 2016

[orange_sky]

Woohoo 3 more days to interest. Huat ah

 

[hwarzoner]

about 11K for me in interest, not sure the exact amount. need to confirm after 1 jan

 

[elnewbie]

I'm impressed. I don't think I will even hit $8k.

about 11K for me in interest, not sure the exact amount. need to confirm after 1 jan

 

[orange_sky]

about 11K for me in interest, not sure the exact amount. need to confirm after 1 jan

How old are you may I ask?

 

[OngHuatHuat]

about 11K for me in interest, not sure the exact amount. need to confirm after 1 jan

I should have around 7 K approximate.
Hope can get 6800.

 

[mummy1234]

I had S$8006.29 in CPF interest for last year. Hopefully more for this year since I top up S$7k to my SA albeit in the later part of the year.

 

[OngHuatHuat]

I had S$8006.29 in CPF interest for last year. Hopefully more for this year since I top up S$7k to my SA albeit in the later part of the year.

if you top up in december, your 7 K won't give you any interest, but your 8006.29 will still give you interest.

So this year you will have more.

 

[mummy1234]

if you top up in december, your 7 K won't give you any interest, but your 8006.29 will still give you interest.

So this year you will have more.

I top up in Sept...so will have interest? Next time must top up early.

 

[OngHuatHuat]

I top up in Sept...so will have interest? Next time must top up early.

Yupz, you will have interest for October, november and December, which means 3 months worth of interest.

3/12 * 4% * 7000 = 70 SGD roughly additional for that 7 K top up you made.

 

[henrylbh]

My father got 73,413 in his RA as of today, all from my OA. The expected interest for this year will be 3,999

 

[lewissac]

This yr shld earn extra 4K from interest.

Btw, I'm confused with the additional 1% from first 60k combined account (up to first 20k).

My assumption is 20k from OA, followed by SA and then MA (if SA not enough). Then balance from SA and MA will be calculated as 4%.
While the remaining balance after 20K from OA will be 2.5%.

Am I right to say that?

 

[dork32]

This yr shld earn extra 4K from interest.

Btw, I'm confused with the additional 1% from first 60k combined account (up to first 20k).

My assumption is 20k from OA, followed by SA and then MA (if SA not enough). Then balance from SA and MA will be calculated as 4%.
While the remaining balance after 20K from OA will be 2.5%.

Am I right to say that?

use yywin formula. just add 600 to your sa.

 

[OngHuatHuat]

This yr shld earn extra 4K from interest.

Btw, I'm confused with the additional 1% from first 60k combined account (up to first 20k).

My assumption is 20k from OA, followed by SA and then MA (if SA not enough). Then balance from SA and MA will be calculated as 4%.
While the remaining balance after 20K from OA will be 2.5%.

Am I right to say that?

I think they rank it according to the date of contribution?

 

[henrylbh]

This yr shld earn extra 4K from interest.

Btw, I'm confused with the additional 1% from first 60k combined account (up to first 20k).

My assumption is 20k from OA, followed by SA and then MA (if SA not enough). Then balance from SA and MA will be calculated as 4%.
While the remaining balance after 20K from OA will be 2.5%.

Am I right to say that?

Q How is my CPF interest computed and credited into my accounts?

A CPF interest is computed monthly, then compounded and credited annually to your respective accounts.

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


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

1st: Retirement Account (RA) ....

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.

 

[hwarzoner]

How old are you may I ask?

40+ uncle never use CPF buy house

 

[orange_sky]

40+ uncle never use CPF buy house

Yeah sounds about right. Have to indicate age to make the comparison meaningful

 

[Allen_C_Sharp]

It's computed monthly but not compounded monthly.

If use cpf pay housing loan, is the interest(need to clawback when sell) compounded yearly or monthly?

 

[LiteHouse]

I don't keep the track of OA interests since it will be reduced frequently due to home mortgage or CPFIS investments/refunds.

Tracking of interests for SA and MA, yes.

 

[SBC]

Expected interest around 9k plus. Looking forward to it

But does not feel rich.

 

[orange_sky]

Expected interest around 9k plus. Looking forward to it

But does not feel rich.

Can't wait tmrw