Just some updates on the CPF scheme for 2017.
Interest rates for CPF Ordinary Account will continue to stay at 2.5%, Special Account / Medisave Account / Retirement Account at 4%.
There will be additional 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA). Those aged 55 and above will also earn an additional 1% extra interest on the first $30,000 of their combined balances.
From 1 January 2017, Basic Healthcare Sum (BHS) for those aged 65 and below will be increased to $52,000, while those aged 66 and above in 2017 have their BHS fixed at $49,800. No top up is required if the sum is not met.