REJECTED BY STRAITS TIMES...SAME ISSUE ON CPF

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The Straits Times"

Nick Pedro
07/11/2006 10:37 AM
To: stforum@sph.com.sg

Subject
Forum
To The Editor,
Straits Times
Forum,

Dear madam/sir,

One of such situation is our CPF contributions. It seems that the employer’s contribution of thirteen per cent and the employee’s contribution of eighteen per cent. I know that the contribution was at twenty-five per cent each. The crux of the matter is that, many of us have purchased homes based on previous contribution rates, which was higher than the present one. This has affected the loan repayment some how. Will the CPF contribution be restored and to how much?Secondly, I note that the interest rate for the savings account has dwindled to a less than 1 per cent rate, which is 0.25 per cent. Do the interest rates for savings account rise if there is a growth? How long will it take to see an upswing in savings interest rates?

Best regards,