CPF interest rates Q4 2026: OA, SA, MA, and RA rates

From 1 October to 31 December 2026, CPF savings earn 2.5% a year in the Ordinary Account (OA) and 4% a year in the Special, MediSave, and Retirement Accounts. Both are floor rates. The Government has extended the 4% floor until 31 December 2027, and you can earn 1% to 2% extra interest on your first $60,000.

 The Central Provident Fund (CPF) in Singapore continues to serve as a cornerstone of the nation's social security system, offering citizens and Permanent Residents a robust savings framework for retirement, healthcare, and housing needs. Understanding the current CPF interest rates is crucial for effective financial planning.

Ordinary Account (OA): The OA interest rate remains steady at 2.5% per annum (p.a.) for Q4 2026 (1 October to 31 December 2026).  This rate is pegged to the three-month average interest rates of major local banks, with a guaranteed minimum of 2.5% p.a.

Special, MediSave, and Retirement Accounts (SMRA): Savings in these accounts will earn an interest rate of 4% p.a. for the same period. This rate is determined by the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%, subject to a minimum of 4% p.a. The government has extended this 4% floor rate until 31 December 2027  to support CPF members in growing their savings.

What are the CPF interest rates for Q4 2026?

From 1 October to 31 December 2026, the OA earns 2.5% a year and the SA, MA, and RA each earn 4% a year. All four are at their floor rates, before extra interest.

*For members below 55. The SA closes when you turn 55. Extra interest of 1% to 2% is paid on top of these rates on your first $60,000 (see below).

Data as of 5 October 2026. Source: CPF Board.

UWhat are the different CPF accounts?

As you start working and make contributions to the Central Provident Fund (CPF), your savings are meticulously allocated into three specialised accounts: Ordinary Account (OA), MediSave Account (MA), and Special Account (SA). 

Additionally, upon reaching the age of 55, a fourth account — Retirement Account (RA) is established to further bolster your financial security in your golden years.

Each of these accounts serves a distinct purpose, from financing your dream home to ensuring you have adequate healthcare coverage and a stable retirement income. Here's a succinct overview of what each account offers:

• Ordinary Account (OA): A versatile account that supports retirement, housing, insurance, and investment needs. It's your go-to for home loans, education financing, and investment opportunities.
• Special Account (SA): Focused on long-term savings for retirement, the SA offers higher interest rates to grow your retirement fund. Investments are primarily in retirement-related financial products. Your SA closes when you turn 55.
• MediSave Account (MA): Dedicated to healthcare expenses, the MA covers hospitalisation, approved medical insurance, and other approved medical expenses, ensuring you and your family's health are well taken care of.
• Retirement Account (RA): Created when you turn 55, the RA is designed to provide you with monthly retirement payouts, transforming your CPF savings into a steady income stream during retirement.

For a full walkthrough of how each account works, read our complete guide to CPF in Singapore.

How have CPF interest rates changed from 2024 to 2026?

The OA rate has stayed at its 2.5% floor since January 2024. The SMRA rate was slightly above 4% through 2024, peaking at 4.14% in October to December 2024, and has been at the 4% floor every quarter since January 2025

*From 19 January 2025, the SA rate applies only to members below 55. Since 1 January 2024, the RA rate follows the same peg as the SA and MA.

 Source: CPF Board news releases for each quarter and the CPF interest rate history.

Changes in SMRA Rates: The interest rate for the Special, MediSave, and Retirement Accounts (SMRA) will remain at 4% per annum from 1 October to 31 December 2026, as the 12-month average yield of the 10-year Singapore Government Securities (10YSGS) plus 1% remains below the 4% floor.

Ordinary Account (OA) Remains Unchanged: The Ordinary Account interest rate remains stable at 2.5% per annum for the same period. This consistency reflects the government's commitment to providing a predictable savings environment, essential for members planning their finances, especially concerning housing and education needs.

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How are CPF interest rates calculated?

CPF employs a thoughtful approach to calculating interest rates to ensure members' savings grow steadily over time. This system is designed to be both fair and adaptable, reflecting current economic conditions while providing a stable and competitive return on savings.

CPF interest rates are calculated based on the higher of two figures: the legislated floor rate or a pegged rate linked to market instruments.

This design ensures that regardless of market volatility, CPF members receive a minimum guaranteed interest rate, while also allowing for the possibility of higher returns based on economic performance.

• Floor Rate: The floor rate is a safety net, guaranteeing a minimum interest rate regardless of external market conditions. It provides stability and predictability for CPF members' savings growth.
• Pegged Rate: The pegged rate is linked to specific financial instruments or market indices, making CPF returns responsive to economic conditions. This means if the market performs well, CPF members can benefit from higher interest rates.

Ordinary Account (OA) Interest Calculation

The OA interest rate is determined by the higher of two figures: the legislated minimum floor rate of 2.5% per annum (p.a.) or the three-month average interest rate of major local banks.

For 1 October to 31 December 2026, the bank average remains below the floor, so the OA interest rate stays at 2.5% p.a.

Special, Medisave, and Retirement Accounts (SMRA) Calculation

The SMRA interest rate is pegged to the 12-month average yield of the 10-year Singapore Government Securities (10YSGS) plus 1%.

For 1 October to 31 December 2026, this pegged rate remains below 4%. The government has extended the floor rate of 4% p.a. for SMRA until 31 December 2027. Therefore, the SMRA interest rate is maintained at 4% p.a.

Quarterly Reviews and Adjustments

The CPF Board conducts quarterly reviews of interest rates to ensure they align with current market conditions and remain competitive.

This consistent reevaluation is crucial for adapting to economic fluctuations, safeguarding the value of CPF members' savings against inflation, and maximizing growth potential. 

Through these reviews, CPF can adjust interest rates to reflect economic realities, balancing the need for stability with the opportunity for increased returns.

This process ensures that members' savings continue to grow effectively, securing financial well-being for their retirement years.

What is the CPF OA interest rate in Q4 2026?

From 1 Jan 2026 to 31 Mar 2026, the OA interest rate remains at 2.5% per annum (p.a.), as the legislated floor rate continues to exceed the three-month average interest rates of major local banks.

CPF Special Account (SA), MediSave Account (MA), and Retirement Account (RA) Interest Rate: 4% (Q1 2026)

The interest rate for the SA, MA, and RA remains at 4% p.a. for Q4 2026 (1 October to 31 December 2026), supported by the government's floor rate extension until 31 December 2027, as the pegged rate based on the 10-year Singapore Government Securities (10YSGS) remains below 4%.

What happens to your CPF Special Account after 55?

Your SA closes when you turn 55. CPF Board closed the SA for members aged 55 and above on 19 January 2025, and the same applies to everyone who turns 55 after that.

• Transfer to your RA first: savings from your SA, then your OA if needed, move into your new RA up to your Full Retirement Sum (FRS). These keep earning the SMRA rate, currently 4% p.a.
• Leftover SA savings go to your OA: once your SA is closed, any remaining SA savings are transferred to your OA, where they earn 2.5% p.a.
• Extra interest continues: you keep earning extra interest on your combined balances after 55, including if you join CPF LIFE.

Source: CPF Board.

How have CPF contribution rates and the salary ceiling changed in 2026?

From 1 January 2026, CPF contribution rates for senior workers aged above 55 to 65 increased by 1.5 percentage points, to improve retirement adequacy for senior workers. The increase goes fully into the Retirement Account.

The adjustments are in line with Singapore's long-term objective. There are no changes to the graduated contribution rates for first- and second-year Singapore Permanent Residents.

Rates from 1 January 2026, for monthly wages above $750. Data as of 5 October 2026

On 1 January 2026, the salary ceiling was raised from $7,400 to $8,000. This adjustment is part of a phased plan to raise the ceiling to $8,000 by 2026, allowing both employers and employees time to adapt.

For employees earning $8,000 or more monthly, this change will result in higher CPF contributions, leading to a slight reduction in take-home pay but enhancing retirement savings.

The CPF annual salary ceiling remains unchanged at $102,000, capping the total amount of wages—both Ordinary and Additional—that attract CPF contributions annually.

To enhance retirement savings, CPF members receive extra interest on their balances.

• Members below 55 years old: An additional 1% interest is paid on the first $60,000 of combined CPF balances, with up to $20,000 from the OA.
• Members aged 55 and above: An extra 2% interest is earned on the first $30,000, and an additional 1% on the next $30,000 of combined CPF balances. This means they can earn up to 6% interest on their retirement savings.

For those aged above 55 to 60, the total contribution rate is now 34% (up from 32.5%), with employer contributions at 16% and employee contributions at 18%. For those aged above 60 to 65, the total contribution rate is 25% (up from 23.5%), with employer contributions at 12.5% and employee contributions at 12.5%.

These adjustments reflect the government's commitment to enhancing retirement savings and providing a stable financial environment for CPF members. To see how much goes into each of your accounts every month, try our CPF contribution calculator.

How can SRS complement your CPF savings?

In Singapore, preparing for retirement involves more than just relying on the Central Provident Fund (CPF); the Supplementary Retirement Scheme (SRS) plays a vital role too. While both are integral to securing your financial future, they serve different purposes and offer distinct benefits.

CPF vs. SRS: Complementary tools for retirement

• CPF: It's mandatory for all working Singaporeans and PRs, offering a high degree of security with guaranteed returns. CPF contributions are used for retirement savings, housing, and healthcare.
• SRS: This is a voluntary scheme aimed at supplementing CPF savings. Contributions to SRS are eligible for tax deductions, reducing your taxable income. Unlike CPF, the SRS offers flexibility in the choice of investment and timing of withdrawals, which can be strategically planned for lower tax liabilities post-retirement.

Weighing a CPF top-up against an SRS contribution? Our SRS vs CPF top-ups comparison covers the tax relief and trade-offs of each.

Investing SRS funds with StashAway

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1. Customised Portfolio Options: Depending on your risk appetite and retirement goals, StashAway can tailor investment portfolios that range from conservative to growth-oriented, maximizing your potential returns.
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3. Low Fees, High Transparency: StashAway charges lower management fees compared to traditional investment services, with no hidden costs—ensuring your savings work harder for you.
4. Tax Efficiency: Investing through SRS not only grows your wealth but also optimises tax benefits. Only 50% of withdrawals from SRS are taxable at retirement, and if planned wisely, these withdrawals can be taxed at a lower rate amidst lower income during retirement years.

Frequently asked questions about CPF interest rates

When is CPF interest credited?

CPF interest is computed monthly and credited to your accounts by the following year, where it's compounded annually. New contributions start earning interest from the month after they're credited, and money you withdraw stops earning interest from the month you withdraw it. So the interest you earn in 2026 is credited to your accounts in 2027.

Will the CPF OA interest rate go above 2.5%?

Only if market rates rise enough. The OA rate is the higher of the 3-month average of major local banks' interest rates or the legislated 2.5% floor, and CPF Board reviews it every quarter. The bank average has stayed below the floor, so the OA rate has been 2.5% in every quarter from January 2024 to December 2026.

Is the 4% CPF floor rate extended?

Yes. On 22 September 2026, the Government extended the 4% floor on Special, MediSave, and Retirement Account savings for another year, from 1 January to 31 December 2027. Without the floor, these accounts would earn the 12-month average yield of 10-year Singapore Government Securities plus 1%, which is currently below 4%.

Do I still have a Special Account after 55?

No. Since 19 January 2025, CPF has closed the Special Account for members aged 55 and above. When you turn 55, your SA savings move to your new Retirement Account up to your Full Retirement Sum, followed by OA savings if needed. Your SA is then closed, and any SA savings left over go to your OA, where they earn 2.5% a year.

How is CPF extra interest split?

If you're below 55, you earn an extra 1% a year on the first $60,000 of your combined balances. At 55 and above, you earn an extra 2% on the first $30,000 and 1% on the next $30,000. In both cases, only up to $20,000 of your OA counts. Extra interest earned on OA savings goes into your SA or RA, not your OA.

Is the Retirement Account interest rate different from the SA and MA rates?

No. Since 1 January 2024, the Retirement Account interest rate has followed the same peg as the Special and MediSave Accounts: the 12-month average yield of 10-year Singapore Government Securities plus 1%, subject to the 4% floor. From 1 October to 31 December 2026, all three earn 4% a year, before any extra interest.