It has been called so many names. And yes, some people still refer to it as CPF Medisave Limit or Medisave Cap Limit.
A short history lesson : In its previous iteration, the official name was Medisave Contribution Ceiling (MCC) but on 1st January 2016, MCC has been renamed as Basic Healthcare Sum.
So, what is it really?
What is the Medisave Minimum Sum? (Historical Info)
Many years ago, the Medisave Minimum Sum (MMS) is the amount that a person turning 55 needs to set aside in his old age for his own or his dependants’ healthcare expenses and basic MediShield and ElderShield premiums.
Medisave Minimum Sum is the minimum amount needed in one’s Medisave account before he is able to withdraw other Central Provident Fund monies from age 55. It was removed in January 2016.
What is the Medisave Contribution Ceiling? (Historical Info)
Instead of the minimum amount mentioned in the previous section, the...