tis is like some kind of offer by hong leong finance or time deposit account from UOB.
they up the rate to entice you to put in more $$$$.
Chee-Pye-F is a commercial institute ?
Long ago became a money making commercial enterprise. The original intent of CPF (to ensure some level of savings for people's retirement) is now not recognizable. They are now going into health insurance (Medisave) and Life insurance (CPF LIfe). Why? These are very profitable businesses. If you look at the skylines of major cities of the world, many have buildings owned by insurance companies.