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Home Insurance Planning Retirement (Annuity) 4% p.a. interest rate for CPF SMA and RA

4% p.a. interest rate for CPF SMA and RA

Friday, 18 June 2010 12:27 Ginny Lim
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CPF Board has just announced that CPF members will continue to receive 4% interest per annum on their Special and Medisave Accounts (SMA) savings from 1 July 2010 to 30 September 2010.
 
Since 1 January 2008, savings in the SMA will earn an interest rate pegged to the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%, adjusted quarterly. However, the Government will maintain the 4% p.a. minimum rate for interest earned on all SMA and Retirement Account until 31 December 2010. Beyond this date, interest rates on all CPF accounts will be subject to a minimum rate of 2.5% p.a.
 
For the period 1 June 2009 to 31 May 2010, the 12-month average yield of the 10YSGS plus 1% worked out to be 3.59%. Since this rate is below the minimum rate of 4%, the SMA interest rate from 1 July 2010 to 30 September 2010 will remain at 4% p.a.

 

 

 

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Newsflash

NTUC Income pay out $415.5m bonus to policyholders , 30 Apr 2010

Insurer NTUC Income are pleased to declare an additional special anniversary bonus to complement your annual bonus. As well as a cash bonus1 for our long-standing policyholders.

Once again, NTUC Income has resolutely published thier yields for one reason – to be transparent.

 Actual Yield: Endowment

Policy Term For males & females, entry age: 25 years old, S$100 monthly premium2
Maturing in 2010 Average Maturity Yield (2006 - 2010)
20 5.47% 5.88%
25 5.95% 6.03%
30 5.90% 5.92%


Actual Yield: Whole Life

Gender Entry age: 30 years old with Sum Assured of S$50,000
At age 55 in 2010 Average Yield (2006 - 2010)
Male 4.72% 4.72%
Female 5.41% 5.41%

1 This cash bonus is paid out on your oldest policy, which must have been in force for at least 10 years as at 31 December 2009. If you are residing overseas, or if the policy has been placed under a trust or is under the care of the Official Assignee, this cash bonus will be credited to your policy to offset future premium payments; or if no premiums are payable, the cash bonus will be paid out when the policy matures, is surrendered or if a claim is made. This cash bonus is not included in the calculations for actual yield.

2 Yields are calculated based on annual premium equivalent to S$100 monthly. Yield calculations are audited by Towers Watson. Actual yields may not be indicative of future policy yields.
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