The Medisave Contribution Ceiling is the maximum amount that you are required to contribute and maintain in your Medisave Account. Any Medisave contribution in excess of the current Contribution Ceiling will be transferred: If you are below age 55, it will be transferred to your Special Account. If you are above age 55 and have […]
What is CPF Medisave Minimum Sum
CPF Medisave Minimum Sum (MMS) scheme was abolished since 1 Jan 2016. It used to be the amount which you need to retain in your Medisave Account (MA) for your healthcare needs before any excess Medisave savings can be withdrawn on or after 55. In the past, if you have met the CPF Minimum Sum requirement (now […]
How to use Medisave for your maternity expenses
Having a new born baby is the most joyful event in most people’s lives. But we all know the maternity expenses always cost dearly. For the current costs of raising a child, you can check out my recent blog article “Are you spending too much on raising your child in Singapore“. Anyway, in Singapore, you can […]
Use of Child’s medisave for Medisave-approved Integrated Shield Plan
To support parents with their children’s healthcare needs, the Government is creating a Medisave account for each Singaporean newborn who is born on or after 26 Aug 2012. Eligible newborns will receive a $3,000 grant in two tranches – the first $1,500 after the registration of their birth, and the remaining $1,500 in the subsequent […]
Medisave for 2 more Chronic Disease
With effect from today, people can use Medisave to help pay for outpatient treatment of dementia and bipolar disorder under the Chronic Disease Management Programme (CDMP). The programme was first introduced in Oct 2006 for diabetes mellitus, hypertension, hyperlipidemia (lipid disorders) and stroke. It was later expanded to include asthma and chronic obstructive pulmonary disease […]
CPF extends 4% interest rates for Special, Medisave & Retirement Accounts to 2012
The Central Provident Fund (CPF) has decided to further extend the 4% floor rate for interest on Special, MediSave and Retirement Account (SMRA) for another year until Dec 31, 2012. Since Jan 1, 2008, savings in the SMRA have been invested in Special Government Securities which earn an interest rate pegged to the 12-month average […]