Are my CPF savings affected by GIC's performance?

CPF savings and interest rates are not affected by GIC’s performance.

Your CPF savings are invested in Special Singapore Government Securities (SSGS), issued and guaranteed by the Singapore Government. The SSGS returns are guaranteed regardless of GIC’s performance over any period. In turn, you are better able to plan for your long-term retirement with CPF savings. More information on how CPF savings are invested can be found at MOF's website.

Did you know? The Government is in a strong reserves position. This means that the Government has assets far in excess of its liabilities. This ensures that the Government can continue to pay interest on your CPF savings, regardless of market conditions. This was the case even during the 2008 Global Financial Crisis and its aftermath, when GIC experienced losses in investment value and low average returns for five years.