12/13/2007

Medisave Account RA

It is reported in the Today paper today that from Jan 1 2008, the RA or Required Amount in the Medisave Account 'will be raised to $14,000 from teh current $11,500, increasing by $2,500 each year until it reaches $25,000 on Jan1, 2013.' There are people with more than $25,000 in the Medisave Account. Does it mean that the CPF is retaining more than it can in the people's Medisave Account as provided by legislation? Should the excess amount be returned to the account holder?

4 comments:

Matilah_Singapura said...

> Should the excess amount be returned to the account holder? <

By right (of private property) all the money of individuals held by force (i.e. stolen property) in govt so-called "social insurance" should be returned to individual account holders.

You will see more and more tinkering with CPF and Medisave as the years go on. It is inevitable. Govts around the world are doing exactly the same things—changing this and changing that...and it is the individual account holders who will be burned.

Well, the people get the government they deserve, and thus they get no sympathy from the likes of me.

Anonymous said...

aiya, medisave account earns rate equals to 10 year s'pore govt bond rate plus 1%....not bad lah, just leave it there, for goodness sake!

if i have more than $25k, i am probably well-to do, so what the hell, leave it, close both eyes and let it earn the higher interest, compounded year after year.

don't crap too much here because later in life, you will DEFINITELY tap into this account.

even if you have some medisave money left after you KO, the money will go to your estate or family members. (know this from personal experience). it will not be confiscated without reason unless you are super bodoh or ignorant not to claim from cpf.

anyway, better for us to be individually accountable for our own medical fees. I definitely don't want to pay higher taxes just to fcuking pay someone else's bills.

redbean, concentrate on taxi situation and inflation issues. You won't score points complaining about Medisave....

Matilah_Singapura said...

anon 607

> don't crap too much here because later in life, you will DEFINITELY tap into this account. <

"DEFINITELY"? You have no idea what provisions I have or have not. Be "definite"—if you can—about your own life. My life in none of your business, so you may stop speculating. ;-)

> anyway, better for us to be individually accountable for our own medical fees. <

Aha. At least you've said something I agree with 100%.

redbean said...

i agree we should be responsible to our own health and life. and i need my money to help me to be responsible to myself. why should i be forced to put my money aside that i may not touch?