CMFAS RES5 CPF & CPFIS question: Retirement Account (RA) and S$10,000

CMFAS RES5CPF & CPFIS

Irene is 60. She has S$25,000 in her Retirement Account (RA) and S$10,000 in her Ordinary Account (OA), with no other balances. Ignoring base interest, how much EXTRA interest does she earn in a year?

A S$700
B S$350
C S$600
D S$650

Show the answer and explanation

Answer: D. S$650

For members 55 and above, extra interest is +2% on the first S$30,000 and +1% on the next S$30,000 (OA capped at S$20,000). Her combined balance is S$35,000, and her OA of S$10,000 is within the cap. First S$30,000 x 2% = S$600; next S$5,000 x 1% = S$50; total = S$650.

Common mistake

Applying a flat 2% to the whole S$35,000 gives S$700 — but only the first S$30,000 earns 2%; the next tier earns just 1%.

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Related CMFAS RES5 questions

Under the MRSS enhancements from 1 January 2025 (annual matching cap raised to S$2,000, lifetime cap S$20,000, age 55 and above), an eligible member's family tops up S$3,000 to his Retirement Account in 2025. What matching grant does the Government add for that year?Chandra turns 55 in 2024, when the Full Retirement Sum (FRS) is S$205,800. At that point he has S$150,000 in his Special Account (SA) and S$120,000 in his Ordinary Account (OA). After his Retirement Account is set up at the FRS, how much remains in his OA?Farid is 40. He has S$40,000 in his Ordinary Account (OA) and S$25,000 in his Special Account (SA), with no MediSave counted. Ignoring base interest, how much EXTRA interest does he earn in a year?

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Original study material mapped to the public CMFAS RES5 syllabus. Unofficial, not endorsed by MAS or SCI. Verify figures and rules against current guidance before relying on them.