Members with Member Retirement Accounts (MRA)  and prospective account holders are informed of the following important changes to the account . 

From April 1, 2012, the maximium monthly deposit to an MRA is $1000 for a maximum of $12,000 in a calendar year, that is from January to December.

Two  other changes which have been made to the MRA  will take effect from July 1, 2012 as follows:

•  ALL members can keep an MRA open and keep saving in it up till age 60. Members can opt, however, to close the account anytime after age 55, without any interest penalty.
• The interest rate on the MRA will be reduced to 6% per annum