19 Dec '11, 4am

The CPF rules change again...

The CPF rules change again...

SINGAPORE: From January next year, the Medisave Required Amount (MRA) will be raised to S$32,000, higher than the current S$27,500. The MRA refers to the amount that must be set aside in the Medisave Account, after the CPF Minimum Sum requirement has been met. Those who have met the CPF Minimum Sum and have a MRA shortfall at the point of withdrawal have to make a top-up to the Medisave Account with part of the balances from the Ordinary Account and/or Special Account to meet the prevailing MRA. The Central Provident Fund (CPF) Board, which announced the change on Monday, also said members will continue to enjoy a risk-free interest rate of 4 per cent on their Special and Medisave Accounts (SMA) between January 1 and March 31, 2012. The interest rate is also set at 4 per cent for the Retirement Account (RA) - from January 1 to December 31, 2012. This is in line with the go...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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