The interest rate for Central Provident Fund (CPF) Special and MediSave Accounts (SMA), as well as Retirement Accounts (RA), will rise to 4.08 per cent per annum in the first quarter of 2024, said the CPF Board, Housing & Development Board (HDB) and Ministry of Health (MOH) in a joint news release on Wednesday (Dec 6).

The SMA interest rate rise, which is the third such increase in as many quarters, is "due to the increase in the 12-month average yield of 10-year Singapore Government Securities (10YSGS), which the SMA interest rate is pegged to".