[News] CPF minimum sum $155000 from july 2014
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Source : http://www.todayonline.com/singapore/cpf-minimum-sum-rise-s155k-july
Quote --- SINGAPORE — The CPF minimum sum will be raised to S$155,000 for those who turn 55 between July 1 this year and June 30 next year, the CPF Board and the Ministry of Manpower (MOM) announced in a statement today (May 8).
This is S$7,000 more than last year’s minimum sum of S$148,000.
“To cater to Singaporeans’ rising expectations of what is considered a basic standard of living in retirement, the CPF minimum sum has been increasing for each group of members turning 55 yearly, to reach a target of $120,000 (in 2003 dollars) by 2015. In order to maintain its real value over time, the minimum sum increases to account for inflation,” said the CPF Board and MOM.
From July 1, the Medisave Minimum Sum will also be raised to S$43,500 from S$40,500, while the Medisave Contribution Ceiling will be increased correspondingly to S$48,500, from S$45,500.
Unquote--- Info taken from Today online credits: http://www.todayonline.com/
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They can always short cut to get $ from us since they so super evilly greedy. Legalise taking money from our cpf and all banks accounts as and when they like.
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They helping you why you complain so much?
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pay peanuts, get monkeys..
pay million dollars, get monkeys..
what the difference?
the difference is pedigree monkeys..
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Originally posted by charlize:
They helping you why you complain so much?
they supply you caipng why you complain so much ......You eat finish no faeces to shit go to your sugar quaddy it will dig out your shit for you.
you everyday come here kpkb about caipng, stress n nuisance, you very free. You are most hated clone.
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Why you so angry?
Why?
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Originally posted by charlize:
Why you so angry?
Why?
O really .........
Lalala ......thru your stupid logic everyone is angry. Hahaha....... you the czp........
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Originally posted by Hope4singapore:
Source : http://www.todayonline.com/singapore/cpf-minimum-sum-rise-s155k-july
Quote --- SINGAPORE — The CPF minimum sum will be raised to S$155,000 for those who turn 55 between July 1 this year and June 30 next year, the CPF Board and the Ministry of Manpower (MOM) announced in a statement today (May 8).
This is S$7,000 more than last year’s minimum sum of S$148,000.
“To cater to Singaporeans’ rising expectations of what is considered a basic standard of living in retirement, the CPF minimum sum has been increasing for each group of members turning 55 yearly, to reach a target of $120,000 (in 2003 dollars) by 2015. In order to maintain its real value over time, the minimum sum increases to account for inflation,” said the CPF Board and MOM.
From July 1, the Medisave Minimum Sum will also be raised to S$43,500 from S$40,500, while the Medisave Contribution Ceiling will be increased correspondingly to S$48,500, from S$45,500.
Unquote--- Info taken from Today online credits: http://www.todayonline.com/
This means 155K has to be in CPF account till you die?And govt get this money?And what if you don't have this money?
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Think you need to pledge your hdb flat or something if not enough.
So if you die, the hdb flat gets sold, the money goes back into cpf of your beneficiaries.
I think.
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Originally posted by charlize:
Think you need to pledge your hdb flat or something if not enough.
So if you die, the hdb flat gets sold, the money goes back into cpf of your beneficiaries.
I think.
Good for beneficiaries then. What is the use of having over 150k in CPF when you can't use it???
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This in a way is creating poverty for lower income. Our money is theirs . Which country govt in the world do the same?
Next time , they want all your assets as well. We work hard for the money, they suck hard for our money.
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Donation of money $$$$ should be voluntary not by force and abuse of power.
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open your blardy eyes and read
put $155K, you entitled to monthly payout of around $1200 till you die
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you can say why $155k (and keep increasing) and oni $1200 per mth
but not criticise like an idiot who doesn't know head doesn't know tail
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The fun part is that there will never be a maximum sum ....(no limit)
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Huat ahhhhhhh.
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Originally posted by Hope4singapore:
The fun part is that there will never be a maximum sum ....(no limit)
How you know?
Maybe 5 million is the maximum mark?
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Originally posted by charlize:
How you know?
Maybe 5 million is the maximum mark?
In ard year 2050?! Maybe I dead already
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Originally posted by TehJarVu:
open your blardy eyes and read
put $155K, you entitled to monthly payout of around $1200 till you die
Where in the article say payout around $1200. Don't be an idiotic arxehoke to find fault. Don't like it don't read my posts, blardy frustrated arrogant toad.
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idiot low life who don't even read up to know what the scheme is all about
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To cater to Singaporeans' rising expectations of what is considered a basic standard of living in retirement, the CPF Minimum Sum has been increasing for each group of members turning 55 yearly, to reach a target of $120,000 (in 2003 dollars) by 2015. In order to maintain its real value over time, the Minimum Sum increases to account for inflation.
In view of this, the Minimum Sum that will apply to CPF members who turn 55 between 1 July 2014 and 30 June 2015 is $155,000. This will be set aside in their Retirement Account using savings from their Special, and then Ordinary Accounts. The Minimum Sum for CPF members who turn 55 before 1 July 2014 remains unchanged.
The Minimum Sum provides CPF members with monthly payouts from the Draw-Down Age (DDA) . Setting aside more retirement savings means higher payouts when members retire. To illustrate, under the CPF LIFE Standard Plan, setting aside the full Minimum Sum of $155,000 at age 55 provides a lifelong payout of about $1,200/month, while $75,000 will provide about $620/month.
Medisave Minimum Sum and Medisave Contribution Ceiling to better cater for Singaporeans' long-term healthcare needs
The Medisave Minimum Sum is the amount a CPF member needs to set aside in his Medisave Account for his own and his dependants' healthcare expenses, as well as MediShield and ElderShield premiums during old age.
With Singaporeans living longer and the availability of better quality of medical treatment, Singaporeans will need to save more in their Medisave Accounts to help pay for their healthcare expenses. In addition, as Medisave is opened up to more uses, regular Medisave Minimum Sum adjustments are necessary to help Singaporeans better prepare for their long-term healthcare needs.
From 1 July 2014:
a) The Medisave Minimum Sum will be raised to $43,500 from $40,500. A member will need to have this amount in his Medisave Account and also meet the CPF Minimum Sum before excess funds can be withdrawn.
b) The Medisave Contribution Ceiling will be increased correspondingly to $48,500, from $45,500. This is the maximum balance a member can have in his Medisave Account.
Any Medisave contribution in excess of the current Contribution Ceiling 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 CPF Minimum Sum shortfall.
Public enquiries
For more information, please visit www.cpf.gov.sg or call the CPF Call Centre at 1800-227-1188.
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Originally posted by TehJarVu:
To cater to Singaporeans' rising expectations of what is considered a basic standard of living in retirement, the CPF Minimum Sum has been increasing for each group of members turning 55 yearly, to reach a target of $120,000 (in 2003 dollars) by 2015. In order to maintain its real value over time, the Minimum Sum increases to account for inflation.
In view of this, the Minimum Sum that will apply to CPF members who turn 55 between 1 July 2014 and 30 June 2015 is $155,000. This will be set aside in their Retirement Account using savings from their Special, and then Ordinary Accounts. The Minimum Sum for CPF members who turn 55 before 1 July 2014 remains unchanged.
The Minimum Sum provides CPF members with monthly payouts from the Draw-Down Age (DDA) . Setting aside more retirement savings means higher payouts when members retire. To illustrate, under the CPF LIFE Standard Plan, setting aside the full Minimum Sum of $155,000 at age 55 provides a lifelong payout of about $1,200/month, while $75,000 will provide about $620/month.
Medisave Minimum Sum and Medisave Contribution Ceiling to better cater for Singaporeans' long-term healthcare needs
The Medisave Minimum Sum is the amount a CPF member needs to set aside in his Medisave Account for his own and his dependants' healthcare expenses, as well as MediShield and ElderShield premiums during old age.
With Singaporeans living longer and the availability of better quality of medical treatment, Singaporeans will need to save more in their Medisave Accounts to help pay for their healthcare expenses. In addition, as Medisave is opened up to more uses, regular Medisave Minimum Sum adjustments are necessary to help Singaporeans better prepare for their long-term healthcare needs.
From 1 July 2014:
a) The Medisave Minimum Sum will be raised to $43,500 from $40,500. A member will need to have this amount in his Medisave Account and also meet the CPF Minimum Sum before excess funds can be withdrawn.
b) The Medisave Contribution Ceiling will be increased correspondingly to $48,500, from $45,500. This is the maximum balance a member can have in his Medisave Account.
Any Medisave contribution in excess of the current Contribution Ceiling 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 CPF Minimum Sum shortfall.
Public enquiries
For more information, please visit www.cpf.gov.sg or call the CPF Call Centre at 1800-227-1188.
Idiot is not me. It is the one who called me idiot who thinks everyone will have that minimum amount to get $1,200 monthly payout. those poor souls like me will not get it. Hahaha.