returns (or not)

Bought a Manulife Signature Retirement 55 (CPF) at $15K in 2005. Now that its into the 9th year, the projected returns then, at the 10th year is a guaranteed surrender value of $10,877 and non-guaranteed of $7,265. Received an update letter yesterday and it stated the surrender value of $15,862 with an interest rate of 3%. If its left alone in CPF at 2.5% interest, then by now that amount should've worth more than $18,750.

Guess I'll treat this portion as a 'ring-fenced' amount for old age. The $30K odd amount at the age of 56 can then go into the CPF min. sum whatever value it was supposed to be at that era.

This was really a hedge bet. Against what? I don't really know. Probably will work if CPF interest rate falls below 2.5%. Will that happen? Unlikely, I guess. Hence, then it was hoping for the investment returns of more than 3%. Will that happen? Erm...can't really tell since what the company is investing in, is not known. Or rather, I didn't bother.