Declaration of Interest Payable on Contributions

Status:

Published in Subsidiary Legislation Supplement
on 21 Sep 2001

No. S 456

Central Provident Fund Act

(CHAPTER 36)

Declaration of Interest Payable on Contributions

It is hereby notified for general information that, in accordance with sections 6(4) and 12(2)(b) of the Central Provident Fund Act, the Central Provident Fund Board, with the approval of the Minister for Finance, has declared that, with effect from 1st October 2001 —

(a)

the rate of interest payable on contributions to the Central Provident Fund shall be —

(i)	2.5% per annum for savings in the Ordinary Account; and
(ii)	4% per annum for savings in the Medisave, Special and Retirement Accounts; and

(b)

the interest shall be credited to members’ accounts on the last day of the year.

[MM 48/55 Vol. 6; AG/LEG/SL/36/97/6 Vol. 1]

Search within Legislation