31 May '11, 5am

Will we ever see or touch our hard-earned life savings?

The PAP regime has increased the CPF minimum sum (MS) from $123,000 to $131,000 from July onwards to prevent Singaporeans from withdrawing their hard-earned savings for their twilight years. The new MS will apply to unfortunate Singaporeans who turn 55 from July 1 2011 to June 30 2012. The Medisave Minimum Sum (MMS) will also be raised to $36,000 from $34,500 and the Medisave Contribution Ceiling (MCC) which is fixed at $5,000 above the MMS would be increased correspondingly to $41,000 from $39,500. Only members who have the MS in their CPF account as cash can apply to commence their monthly payouts of $1,170 when they reach their draw down age. The PAP regime claims that “the revisions to MMS and MCC are to ensure that Singaporeans have sufficient savings to meet their healthcare expenses, and have been adjusted for inflation.” With the CPF savings of most Singaporeans ti...

Full article: http://www.temasekreview.com/2011/05/31/pap-to-raise-mini...

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CPF Minimum Sum to be revised upwards to $131,0...

straitstimes.com 31 May '11, 4am

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

CPF Minimum Sum to be revised upwards to $131k

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(TTR) Many thanks to The Temasek Review & its Readers

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