In the first quarter of 2025, the interest rate for Central Provident Fund ( CPF ) Special, MediSave, and Retirement accounts will decrease by 4 % annually.
This is , along from 4.14 per share in the previous quarter, the first increases after two consecutive quarterly rises.
The lower interest rate is due to a decrease in the 12-month average yield of 10-year Singapore Government Securities,  , said the CPF Board, Housing Board ( HDB) and the Ministry of Health ( MOH) on Wednesday ( Dec 11 ).
Benefits in the Special, MediSave and Retirement accounts may make 4 per cent per annum from Jan 1 to Mar 31, 2025, the joint media release added.
For the first quarter of the following year, the Ordinary Account ( OA ) interest rate will remain unchanged at 2.5 percent.
During the same time frame, the concessionary interest rate for HDB housing loans will remain unchanged at 2.6 %, which is pegged at 0.1 % above the OA interest rate.  ,  ,
Members may continue to receive more attention on their CPF savings in accordance with the administration’s efforts to increase pension savings for CPF members.  ,
Those below 55 years old will earn an extra 1 per cent interest on the first S$ 60, 000 ( US$ 44, 460 ) of their combined balances. This fascination is capped at S$ 20, 000 for the OA.  ,
People aged 55 and above may receive an additional 2 per cent interest on the first S$ 30, 000 of their combined accounts, capped at S$ 20, 000 for the OA, and an additional 1 per share on the next S$ 30, 000.  ,
The additional interest earned on the OA amounts will be deposited into a person’s Retirement or Special Account.  ,
The more interest will continue to be paid on the combined CPF accounts of members who are older than 55 who take the CPF LIFE program. The CPF LIFE benefits are included in this.
RENROLLING OF THE BASIC Care SUM
Additionally, the authorities announced that the Basic Healthcare Security ( BHS) would increase in 2025.
From Jan 1, CPF people aged below 65 may have their Woolworths increased from S$ 71, 500 to S$ 75, 500, while those who turn 65 in 2025 may have their Woolworths fixed at S$ 75, 500 and not change later.
For CPF people aged 66 and above in 2025, their Woolworths has already been fixed and will remain constant, the officials said.
The projected savings needed for standard, subpar medical care in older age are known as the BHS. MOH adjusts it every year for those under 65 to keep up with the rise in MediSave usage.
Members can contribute up to the BHS to the MediSave accounts. Contributions received by members that are higher than their BHS will be deposited into their various CPF accounts.
CPF people who have less than the Woolworths are not required to top up their MediSave accounts and can still withdraw money from it to spend for approved medical bills.