Medisave Minimum Sum increased by 7.4% to $43,500?
Similarly, why is the Medisave Minimum Sum being increased by a whopping 7.4%, from $40,500 to $43,500?
No debate in Parliament?
As I understand that the mandate to increase the Minimum Sum was supposed to end last year – shouldn’t such an important issue as continuing to increase it – be debated in Parliament?
How many have $198,500?
How many Singaporeans who reach age 55 will have $198,500 in their CPF? About 1 in 8 Singaporeans?
Minimum Sum target exceeded by $40,202?
By the way, I believe the original mandate to increase the Minimum Sum to $120,000 in 2003 dollars was for the Minimum Sum only. Now, with the inclusion of the Medisave Minimum Sum – the total sum of $198,500 to be retained at age 55 may already far exceed it.
Since “the $155,000 Minimum Sum is equivalent to $117,500 in 2003 dollar terms” – the equivalent of $120,000 in 2003 dollars is now $158,298. So, the sum total of $198,500 may already be $40,202 in excess of the original Minimum Sum target mandated by Parliament about a decade ago.
SY Lee and Leong Sze Hian
http://www.tremeritus.com/2014/05/09/cpf-medisave-minimum-sums-to-go-up-to-198500/
Similarly, why is the Medisave Minimum Sum being increased by a whopping 7.4%, from $40,500 to $43,500?
No debate in Parliament?
As I understand that the mandate to increase the Minimum Sum was supposed to end last year – shouldn’t such an important issue as continuing to increase it – be debated in Parliament?
How many have $198,500?
How many Singaporeans who reach age 55 will have $198,500 in their CPF? About 1 in 8 Singaporeans?
Minimum Sum target exceeded by $40,202?
By the way, I believe the original mandate to increase the Minimum Sum to $120,000 in 2003 dollars was for the Minimum Sum only. Now, with the inclusion of the Medisave Minimum Sum – the total sum of $198,500 to be retained at age 55 may already far exceed it.
Since “the $155,000 Minimum Sum is equivalent to $117,500 in 2003 dollar terms” – the equivalent of $120,000 in 2003 dollars is now $158,298. So, the sum total of $198,500 may already be $40,202 in excess of the original Minimum Sum target mandated by Parliament about a decade ago.
SY Lee and Leong Sze Hian
http://www.tremeritus.com/2014/05/09/cpf-medisave-minimum-sums-to-go-up-to-198500/
