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Changes to CPF Minimum Sum
When will i ever see my CPF $? ... 
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FROM next month onwards, Central Provident Fund (CPF) members will see changes made to their Minimum Sum (MS), Medisave Minimum Sum (MMS), and Medisave Contribution Ceiling (MCC).
Starting July 1 this year, the CPF MS will be revised from $106,000 to $117,000. This will apply to members who turn 55 from July 1, 2009 to June 30, 2010.
The increase, which includes an adjustment for inflation, is to ensure that Singaporeans set aside sufficient savings for their retirement.
Similarly, to ensure that Singaporeans have enough savings to meet their hospitalisation expenses, the MMS will be raised to $32,000 from $29,500 from July 1 this year.
The maximum balance a member may have in his Medisave Account, known as the (MCC), is fixed at $5,000 above MMS and this would be increased correspondingly to $37,000, from $34,500.
Any Medisave contribution in excess of the prevailing MCC will be transferred to the member’s Special Account if he is below age 55 or to his Retirement Account if he is above age 55 and has a MS shortfall.
Members with queries can call the CPF Call Centre at 1800-227-1188.
Souce: http://www.straitstimes.com/Breaking...ry_384362.html
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FROM next month onwards, Central Provident Fund (CPF) members will see changes made to their Minimum Sum (MS), Medisave Minimum Sum (MMS), and Medisave Contribution Ceiling (MCC).
Starting July 1 this year, the CPF MS will be revised from $106,000 to $117,000. This will apply to members who turn 55 from July 1, 2009 to June 30, 2010.
The increase, which includes an adjustment for inflation, is to ensure that Singaporeans set aside sufficient savings for their retirement.
Similarly, to ensure that Singaporeans have enough savings to meet their hospitalisation expenses, the MMS will be raised to $32,000 from $29,500 from July 1 this year.
The maximum balance a member may have in his Medisave Account, known as the (MCC), is fixed at $5,000 above MMS and this would be increased correspondingly to $37,000, from $34,500.
Any Medisave contribution in excess of the prevailing MCC will be transferred to the member’s Special Account if he is below age 55 or to his Retirement Account if he is above age 55 and has a MS shortfall.
Members with queries can call the CPF Call Centre at 1800-227-1188.
Souce: http://www.straitstimes.com/Breaking...ry_384362.html
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