the cpf minimum sum will be revised upwards from the current $123k to $131k effective july 01, 2011.
this new minimum sum will apply to CPF members who turn 55 from July 1 2011 to Jun 30 2012 and for those who can set aside the minimum sum in full in cash, can apply to commence monthly payouts of $1,170 when they reach their draw down age.
in the same announcement by the cpf board, there is also another increase for the Medisave Minimum Sum which will also be raised to $36,000, up from $34,500 previously, whereby members will be able to withdraw their Medisave savings in excess of the Medisave Minimum Sum at or after age 55.
and the maximum balance a cpf member may have in his Medisave Account, also known as the Medisave Contribution Ceiling (MCC), is fixed at $5,000 above the Medisave Minimum Sum and this ......
the cpf minimum sum will be revised upwards from the current $123k to $131k effective july 01, 2011.
this new minimum sum will apply to CPF members who turn 55 from July 1 2011 to Jun 30 2012 and for those who can set aside the minimum sum in full in cash, can apply to commence monthly payouts of $1,170 when they reach their draw down age.
in the same announcement by the cpf board, there is also another increase for the Medisave Minimum Sum which will also be raised to $36,000, up from $34,500 previously, whereby members will be able to withdraw their Medisave savings in excess of the Medisave Minimum Sum at or after age 55.
and the maximum balance a cpf member may have in his Medisave Account, also known as the Medisave Contribution Ceiling (MCC), is fixed at $5,000 above the Medisave Minimum Sum and this ......
