Basic Healthcare Sum for 2021

By Create Wealth Through Long-Term Investing and Short-Term Trading • November 28, 2020

CW8888: Last year to top up MA as self employed to earn 4% interest rate in MA. 65 in 2021. Sianz! Sigh! The Basic Healthcare Sum (BHS) is the estimated savings required for basic subsidised healthcare needs in old age. The BHS is adjusted yearly for members below age 65 to keep pace with the growth in MediSave withdrawals. Once members reach age 65, their BHS will be fixed for the rest of their lives. From 1 January 2021,

For members below 65 years old, their BHS will be raised from $60,000 to $63,000.

2. For members who turn 65 years old in 2021, their BHS will be fixed at $63,000, which will not change thereafter. For members aged 66 and above in 2021, their cohort BHS had already been fixed and will remain unchanged. BHS is the cap to the MediSave Account (MA) and contributions in excess of a member’s BHS will be automatically transferred to his or her other CPF accounts....

Read the full article

By Create Wealth Through Long-Term Investing and Short-Term Trading

I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016. Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD. I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild. I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038. Cheers!

Cancel reply

TheFinance.sg

Follow @TheFinance_sg