CPF will raise the CPF Minimum Sum, Medisave Minimum Sum and Medisave Contribution Ceiling from 1 July 2014 for a more secure retirement. The CPF minimum sum will be raised to S$155,000 from S$148,000, Medisave Minimum Sum will also be raised to S$43,500 from S$40,500, while the Medisave Contribution Ceiling will be increased to S$48,500 from S$45,500.
Many of us in Singapore will have our salary was deducted each month to put into our CPF's account which will be either be used to pay for our HDB flats or simply saved in hope that once we retire we will be able to live our retirement as how we plan to. However with the CPF minimum sum keep increasing, I really wonder if we will ever to get to see (not even use) our CPF money when we retire or worst when we KO...
Anyone can help answer what really is the purpose of having "Minimum Sum"?
More info read here.
Many of us in Singapore will have our salary was deducted each month to put into our CPF's account which will be either be used to pay for our HDB flats or simply saved in hope that once we retire we will be able to live our retirement as how we plan to. However with the CPF minimum sum keep increasing, I really wonder if we will ever to get to see (not even use) our CPF money when we retire or worst when we KO...
Anyone can help answer what really is the purpose of having "Minimum Sum"?
More info read here.
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