Author of Yearning For Justice: A Mother's Musings To Her Future Child  
ISBN10: 0901931217  
ISBN13: 9780901931214  
Fund Contribution: POSB savings 279-12328-0

CPF Minimum Sum to be raised to $155,000 from 1 July 2014

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.

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will need to have this amount in his Medisave Account and also meet the CPF Minimum Sum before excess funds can be withdrawn.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.

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.

Since for the whole of 2013, CPI-All Items inflation averaged 2.4 per cent, sharply lower than the 4.6 per cent in 2012 – Why is it that the minimum sum is being increased by 4.7%?

Similarly, why is the Medisave Minimum Sum being increased by a whopping 7.4%, from $40,500 to $43,500?

How many Singaporeans who reach age 55 will have $198,500 in their CPF? About 1 in 8 Singaporeans?

We, as owners of our own CPF money, should be able to decide who to loan the money to - that's if we concede that we can't decide individually.


Join us on 7 June at 5pm!
Stop increasing minimum sum and return our CPF


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#YearningForJustice : A mother's musings to her future child