Home Life and Family Retirement & Estate Planning CPF Minimum Sum Raised to $131,000

CPF Minimum Sum Raised to $131,000

E-mail Print PDF

The CPF Board announced several changes to the CPF Scheme, chief of which is the increase in the CPF minimum sum.

Besides the increase in the prevailing CPF Minimum Sum (MS) from $123,00 to $31,000 from from 1 July 2011, the Medisave Minimum Sum (MMS) will also go up $36,000 from $34,500. Members can withdraw their Medisave savings in excess of the MMS at or after 55 years old.

 

Furthermore, the maximum balance a member may have in his Medisave Account will also be increased correspondingly to $41,000, from $39,500.

The new minimum sum will apply to CPF members who turn 55 years old between 1 July 2011 to 30 June 2012.

Last Updated ( Sunday, 20 November 2011 14:42 )  
Facebook Twitter Digg Delicious Stumbleupon RSS Feed 

Search

Login Form


Latest Comments