31 May '11, 4am

CPF Minimum Sum to be revised upwards to $131,000 from July 1

The CPF Minimum Sum will be raised to $131,000 from July 1. -- ST PHOTO: MALCOLM MCLEOD FROM July 1, the CPF Minimum Sum (MS) will be $131,000, up from $123,000 previously, the Ministry of Manpower (MOM) announced in a statement on Tuesday. The new MS will apply to CPF members who turn 55 from July 1 2011 to Jun 30 2012, those who can set aside the MS fully in cash can apply to commence monthly payouts of $1,170 when they reach their draw down age. The Medisave Minimum Sum (MMS) will also be raised to $36,000, up from $34,500, whereby members will be able to withdraw their Medisave savings in excess of the MMS at or after age 55. The maximum balance a member may have in his Medisave Account, also known as the Medisave Contribution Ceiling (MCC), is fixed at $5,000 above the MMS and this would be increased to $41,000, up from $39,500. Any Medisave contribution in excess of ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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CPF Minimum Sum to be revised upwards to $131k

straitstimes.com 31 May '11, 11pm

The CPF Minimum Sum will be raised to $131,000 from July 1. -- ST PHOTO: MALCOLM MCLEOD FROM July 1, the CPF Minimum Sum (...

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temasekreview.com 31 May '11, 5am

The PAP regime has increased the CPF minimum sum (MS) from $123,000 to $131,000 from July onwards to prevent Singaporeans ...

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theonlinecitizen.com 30 May '11, 8pm

2. It is said that inflation erodes savings, but it is because of this effect that consumer spending is encouraged (which ...