Friday, December 13, 2013

CPF Requirements

CPF Minimum Sum 
(http://mycpf.cpf.gov.sg/CPF/my-Cpf/reach-55/Reach55-2.htm)


55th birthday on or after

MS

(in 2003 dollars) 

MS

(after adjustment for inflation)
1 July 2003
$80,000
$80,000
1 July 2004
$84,000
$84,500
1 July 2005
$88,000
 $90,000 
1 July 2006
$92,000
      $94,600
1 July 2007
$96,000
$99,600
1 July 2008
$100,000
$106,000
1 July 2009
$104,000
$117,000
1 July 2010
$108,000
$123,000
1 July 2011
$112,000
$131,000
1 July 2012
$113,000
$139,000
1 July 2013
$115,000
$148,000


Medisave Required Amount (MRA) 
(http://mycpf.cpf.gov.sg/CPF/my-cpf/Retirement/MYR8.htm)

  • S$40,500 (from 1st Jan 2014)
MRA will be merged into the Medisave Minimum Save (MMS). The Medisave Minimum Sum is the amount you need to retain in your Medisave Account, before any excess Medisave savings can be withdrawn, whenever you make a withdrawal of your CPF monies at age 55 and above. The Medisave Minimum Sum ensures you set aside enough savings to meet your future healthcare expenses, especially during old age. The Medisave Minimum Sum is $40,500 since 1 July 2013.