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12/21/2012

CPF Medisave Required Amount to be raised to $38,500



‘SINGAPORE: From January next year, the Medisave Required Amount (MRA) in the Central Provident Fund (CPF) will be raised to S$38,500 from the current S$32,000.

The MRA refers to the amount that must be set aside in the Medisave Account, after the CPF Minimum Sum requirement has been met.

The CPF Board said those who have met the CPF Minimum Sum and have an MRA shortfall at the point of withdrawal have to make a top-up to the Medisave Account....’

This is the latest. Does anyone want to ask the CPF Board who gives them the authority to raise the minimum sum? Who does the Board think they are?

23 comments:

Anonymous said...

This is the problem in Singapore. We were made to understand that once you hit 55, you can withdraw all your money out. Then came some news of peple withrawing their cPF and spent the money on Batam women. Coming back with only few cents left. Government,being so kind to its people decided that we should leave the money and withdraw a certain amount
, leaving the rest for old age. But with rising medical costs, cost of living etc they changed the rules again. Now it would be lucky if anyone can spend all their savings.

Anonymous said...

A Lee Ba Ba?

Anonymous said...

Goalpost shifted AGAIN...kana sai

patriot said...

Question that must be asked is why is the CPF Board authorised to arbitrate on members money other than those original rulings.

patriot

Anonymous said...

Using the same "strategy" the PAP health minister uses to sell any "adjustment" in the Medishield premiums, I would say it's only an affordable increase of $17.80 a day. Unfortuantely, this wouldn't work as it's exceeded the psychological limit of high single digit figure.

Anonymous said...

The only way to fix this problem is to Vote Opposition.
Talk no use.

Anonymous said...

For me and my wife we took out all except about $320,000 in minimum sum and medisave. I just take it as the final income tax lar

Anonymous said...

Pension funds can also changed entitlements anyhow these days. Pension or provident funds (whatever the name) they are all the same - just one big pussy scheme invented by some greedy people on the top.

Anonymous said...

>>Who does the Board think they are?


Any ex-MPs in the Board????

Anonymous said...

Vote them out.
Vote them out.
Vote them out.
Vote them out.

Anonymous said...

Spring must come else no daylight!

Matilah_Singapura said...

Still believe that it's really "your money"?

Keep dreaming, motherfuckers.

Anonymous said...

Aren't they not just the rubber stamps of the ruling party like the state media, Public Transport Council, People Association, NTUC, CPF, etc etc

Definition :

Rubber-stamp (V): to,approve, endorse as matter of routine at the command of another

Rubber-stamp (N): a body that approves a policy or program with little or no discussion


It really make the mockery of the effort for Singaporeans to talk to them, when nothing has really changed.

Anonymous said...

What are you going to do about it when your money is not your money anymore?

Matilah_Singapura said...

CPF.

Legalised Daylight Robbery, financed by on-going ransom payments to a legal mobster.

Career choice: Organised Crime or Government?

Clear Choice: Government

Reasons:

1. Can write its own laws covering any imaginable situation, and even create situations to apply made-up laws.

2. Can levy taxes for any reason...or no reason at all.

3. Can expropriate private property, including self-ownership of one's own personhood, for any reason...even made-up, ad hoc, arbitrary reasons. (legalised suka-suka)

4. Is the sole trustee of all the property and taxes it has expropriated from The People and their private enterprises -- commercial, social and even family. Government can sped the money any way it wants.

5. Is COMPLETELY legal. Not necessarily constitutional (someone please destroy that worthless toilet paper document no one gives a shit about).

Hence the popular sentiment that a career in government is potentially far more lucrative than a career in organised crime.

Anonymous said...

I agree wholeheartedly with Anon 4.40. The only way to fix all our problems is to vote opposition.

And the way I see it, what is white is obviously not transparent. That is why white is no longer in fashion, especially on National Days.

Anonymous said...

Don't think that is all. The medisave ceiling is untouchable but extendable, so is CPF withdrawal at 55,

Not to worry. Your CPF money is making good returns, about 17% annualised in the hands of Temasek/GIC, I understand. The only problem is you have no share in it.

patriot said...

This is by far the best understanding of rogue regimes (ab)using their powers to exploit and oppress their people.

patriot

jjgg said...

Let me predict(1)..govt gives 2013 budget ang pow of $200 to slaves and this be credited to their cpf account to compensate for rising costs...hehe...(2) temasick issues $2 billion bond and this is fully subscribed by cpf board..hehe (3) RB's blogspot subject of insane takeover offer to stop reasonable n sane discussions...may be the best investment for some time..hehe

Chua Chin Leng aka redbean said...

Haha jjgg. I am still waiting for a buyer.

Anonymous said...

Please don't accept any offer.

Make sure we can still have sensible discussions, unhampered, unhindered, uncensored, unthreatened, no apple-polishing, boot-licking, marble carrying, unlike the MSM.

There should be a clause to specify as such, like the one drawn up by the 14 PAP town councils with regard to their computer software sold to a shell company to prevent AHTC from using it. In other words, place a time bomb lah!

Anonymous said...

Sell it.
Make a pile.
Go to wherever You
wish to be.
And start a new one(blog)
and wait for another better offer.

Good Luck to You, Red Hot Bean.

Chua Chin Leng aka redbean said...

Selling a blog would depend on the need of a purchaser. There are values in the title of this blog and also the content and viewership, and of course the bloggers here.

Will wait for the right offer to come along. Then we can go for a good makan. All will be invited for sure.

Merry Xmas and a prosperous New Year to all.