At GoalsMapper, CPF interests are calculated based on monthly compounding including the extra and additional extra interest as defined by the CPF Board.
The calculation also takes into consideration the Basic Healthcare Sum. Refer to Basic Healthcare Sum Calculation for more details.
- CPF interests are calculated monthly based on the lowest balance available in the respective accounts after any credit/debit (e.g. top-up or withdrawal, loan payment etc)
- The interest are accumulated yearly and added to the respective CPF account balance at the start of the following year.
- CPF top-up and withdrawals are considered to be done at the start of the year in January.
- One-time CPF Downpayment for property is evenly distributed over 12 months.
- CPF Retirement Account (RA) is formed in the month of the members' birthday.
- Any contribution or interest earned on CPF Medisave account above the BHS ceiling will be transferred over to SA. In the event that the SA is on or above the FRS amount. The contribution and interest will flow to OA
- At age 55, if you failed to meet the FRS sum in your RA, your OA and SA will automatically be transferred to your SA to at age 65 to top up to FRS. The amount to top up excludes the interest earned on your RA from age 55 to 65.
OA balance at start of 2019: $50,000
OA contribution per month: $1,000
OA interest in Jan: $104.16 (lowest balance: $50,000)
OA Interest in Feb: $106.25 (lowest balance: $51,000)
OA balance in Dec: $127.08 (lowest balance: $61,000)
OA balance at start of 2020: $61,000 + Interest earned in 2019