Live Market Indices

CPF Interests Rate

1 Apr 2012 - 30 Jun 2012

 
Ordinary Account 2.50% p.a.
Special Account 4.00% p.a.
Medisave Account 4.00% p.a.
Retirement Account 4.00% p.a.
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Including self-employed people in the CPF scheme was the focus of Mr Seng Han Thong's speech in Parliament.

The MP for Ang Mo Kio GRC said those who are self-employed are inadequately insured against unfortunate events such as death, permanent disability or critical illnesses and he urged the government to support them.

Mr Seng also pointed out that the existing Medisave, Medishield and Medifund schemes do not cover for the loss of income and recurring cost when self-employed persons are unable to work temporarily.

He said: "We should set up an automatic opt-in basic life insurance scheme which can be paid for by the CPF savings. This will further strengthen the social safety net of the inadequately insured self-employed persons, or for that matter, all Singapore citizens under the CPF scheme."

Later, MP for Jurong GRC, Desmond Lee, urged government agencies to continually review their existing stable of social programmes and see how these programmes can be enhanced.

He said there are families who are not aware of the kind of government assistance available to them.

Mr Lee said: "Social service agencies can further strengthen their outreach efforts, galvanize the extensive local grassroots network, and encourage active citizens in the community to help spot Singaporeans in distress.

"The grassroots movement can also form local communities of care within closely-knit neighbourhoods, such as within a precinct or even within a single block, to provide support and care for the disadvantaged."

-CNA

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