Goh Keng Swee was part of the original PAP govt which promised us withdrawal age 55 without ANY SUCH CRAP min sum conditions!
Where is our CPF Dr Goh?
Where are you?
And when old fart LKY followed you to die who are we going to ask about our lost CPF money?
http://www.todayonline.com/Singapore/EDC100515-0000070/CPF-Minimum-Sum-revised-to-$123,000-in-July
:oIo::oIo::oIo:
CPF Minimum Sum revised to $123,000 in July
05:55 AM May 15, 2010
From July, the prevailing CPF Minimum Sum will be revised to $123,000, up from $117,000.
Members who can set aside the full minimum sum will receive about $1,100 per month when they reach their draw down age, said the Manpower Ministry (MOM).
The new minimum sum will apply to CPF members who turn 55 from July until June next year.
MOM said the minimum sum will be raised gradually to reach $120,000 (in 2003 dollars) in 2013. The increase, which includes an adjustment for inflation, is to ensure that Singaporeans set aside sufficient savings for their retirement.
Also from July, the Medisave Minimum Sum (MMS) will be raised to $34,500 from $32,000.
The CPF Board said members will be able to withdraw their Medisave savings in excess of the MMS at or after 55 years old.
The maximum balance a member may have in his Medisave Account, known as the Medisave Contribution Ceiling (MCC), is fixed at $5,000 above MMS.
This will correspondingly be increased to $39,500, from $37,000.
Any Medisave contribution in excess of the prevailing MCC will be transferred to the member's Special Account if he is below age 55.
It will be transferred to his Retirement Account if he is above age 55 and has a minimum sum shortfall.
Where is our CPF Dr Goh?
Where are you?
And when old fart LKY followed you to die who are we going to ask about our lost CPF money?
http://www.todayonline.com/Singapore/EDC100515-0000070/CPF-Minimum-Sum-revised-to-$123,000-in-July
:oIo::oIo::oIo:
CPF Minimum Sum revised to $123,000 in July
05:55 AM May 15, 2010
From July, the prevailing CPF Minimum Sum will be revised to $123,000, up from $117,000.
Members who can set aside the full minimum sum will receive about $1,100 per month when they reach their draw down age, said the Manpower Ministry (MOM).
The new minimum sum will apply to CPF members who turn 55 from July until June next year.
MOM said the minimum sum will be raised gradually to reach $120,000 (in 2003 dollars) in 2013. The increase, which includes an adjustment for inflation, is to ensure that Singaporeans set aside sufficient savings for their retirement.
Also from July, the Medisave Minimum Sum (MMS) will be raised to $34,500 from $32,000.
The CPF Board said members will be able to withdraw their Medisave savings in excess of the MMS at or after 55 years old.
The maximum balance a member may have in his Medisave Account, known as the Medisave Contribution Ceiling (MCC), is fixed at $5,000 above MMS.
This will correspondingly be increased to $39,500, from $37,000.
Any Medisave contribution in excess of the prevailing MCC will be transferred to the member's Special Account if he is below age 55.
It will be transferred to his Retirement Account if he is above age 55 and has a minimum sum shortfall.
