For the first quarter of 2022, CPF members below 55 years old will continue to earn interest rates of up to 3.5% per annum on their Ordinary Account (OA) monies, and up to 5% per annum on their Special and MediSave Account (SMA) monies. These interest rates include an extra 1% interest paid on the first $60,000 of a member’s combined balances (capped at $20,000 for OA).

For members aged 55 and above, the Government pays an extra 2% interest on the first $30,000 of their combined balances (capped at $20,000 for OA), and an extra 1% on the next $30,000. This means that members aged 55 and above will earn up to 6% interest per annum on their retirement balances.

The extra interest paid to CPF members is part of the Government’s efforts to enhance the retirement savings for CPF members.

The extra interest received on the OA will go into the member’s Special Account (SA) or Retirement Account (RA). If a member is above 55 years old and participates in the CPF LIFE scheme, the extra interest will still be earned on his or her combined balances, which includes the savings used for CPF LIFE.

Interest Rate for CPF Ordinary Account and HDB Concessionary Interest Rate

The OA interest rate will be maintained at 2.5% per annum from 1 January 2022 to 31 March 2022.

Correspondingly, the concessionary interest rate for HDB housing loans, which is pegged at 0.1% above the OA interest rate, will remain unchanged at 2.6% per annum from 1 January 2022 to 31 March 2022.

Interest Rate for Special and MediSave Account

The SMA interest rate will be maintained at 4% per annum from 1 January 2022 to 31 March 2022.

Interest Rate for Retirement Account

The RA interest rate will be maintained at 4% per annum from 1 January 2022 to 31 December 2022, as announced on 27 September 2021.

Basic Healthcare Sum for 2022

The Basic Healthcare Sum (BHS) is the estimated savings required for basic subsidised healthcare needs in old age. The BHS is adjusted yearly for members below age 65 to keep pace with the growth in MediSave use. Once members reach age 65, their BHS will be fixed for the rest of their lives. From 1 January 2022,

For members below 65 years old, their BHS will be raised from $63,000 to $66,000.
For members who turn 65 years old in 2022, their BHS will be fixed at $66,000 and will not change thereafter.

For members aged 66 years and above in 2022, their cohort BHS has already been fixed and will remain unchanged.

The BHS is the cap to the MediSave Account (MA). MediSave contributions in excess of a member’s BHS will be automatically transferred to his or her other CPF accounts.

CPF members who have less than the BHS are not required to top-up their MA and will still be able to withdraw from their MA to pay for approved medical expenses.

For more information on the BHS for the respective cohorts, please visit cpf.gov.sg/BHS.

Public Enquiries

For more information on CPF interest rates and their computation, please visit cpf.gov.sg/CPFInterestRates.

CPF members can visit cpf.gov.sg or contact CPF Board through cpf.gov.sg/writetous for enquiries.

Joint Press Release by CPFB, HDB and MOH - CPF Interest Rates from 1 January 2022 to 31 March 2022 and Basic Healthcare Sum for 2022