At the end of each year, apart from Christmas, I look forward to the interest added to my CPF accounts (especially the CPF-SA). In 2015, the total interests added to my CPF-SA was S$4,984.38. The detailed breakdown will be S$3,054.88 interest generated directly from CPF-SA and another S$1,929.50 transferred from the interest added to the CPF-MA.
S$4,984 is more than half of the interest that was added to my account in the last 5 years (2010-2014).
Read: S$8,274 interest accumulated from CPF-SA in the last 5 years
Power of Compound Interest
The amount of interest given each year is become substantial. Let's just do a simple calculation and take S$70,000 (approximate amount in my CPF-SA), how much would the amount be in 20 years? I will be 54 years old by then and that is just a year before I transfer the amount to my CPF Retirement account. The answer is about ~S$155,000. The amount will have grown more than 2 times. That is the beauty of compound interest. And that is without adding in any employee-employer contributions monthly.
31 December 2036, I should be receiving at least S$6,200 worth of interest from the S$70,000 I have inside my CPF-SA now.
Thank you, CPF Board.
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