CPF Minimum Sum raised to $155k effective 1 Jul

‘The CPF Minimum Sum will be raised to S$155,000, up from S$148,000, from 1 July.
This will apply to CPF members who turn 55 between 1 July 2014 and 30 June 2015, the Central Provident Board (CPF) and the Manpower Ministry said in a joint statement....

The Medisave Minimum Sum will be raised to S$43,500 from S$40,500 from 1 July.
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will need to have this amount in his Medisave Account and also meet the CPF Minimum Sum before excess funds can be withdrawn.

The Medisave Contribution Ceiling will be increased correspondingly to S$48,500 from S$45,500’ CNA

The govt is so proactive and caring. They know that your money will be eaten away by inflation. So they will constantly monitor how much you have in your CPF savings and if they think you would not have enough they will top it up for you, by using your own money. What am I saying? Oh, it means more of your savings cannot be touched when you want to withdraw them at the moving withdrawal age of 55/62 or maybe 65/72 in the future.

I would believe that if this is a govt pension scheme, if there is a govt pension scheme, the amount of pension will also be increased proportionally so that the pensioners will be getting the real monetary value they were supposed to get when they retired. So those old civil servants and ex teachers should be getting adjustment to their pension payouts. Got or not? Any pensioners reading this can confirm or not? With inflations running away in the loose, your few hundred dollars of pension would worth only a fraction of their real value in the past.

And for those who are drawing half a million or quarter of a million dollar pension, think they will be adjusted for inflation or not?

This govt really deserves to be paid out of this world salary for being so meticulous and forward looking and caring towards its citizens. All the citizens will not have a care when they retired at 80 or 90. There will be a pot of gold at the end of the rainbow waiting for them, due to the good planning and grace of the govt. Say a word of thanks to the ministry managing this CPF Minimum Sum Scheme. If the saying that people with good heart, good intent, a heart of gold, will go to heaven, these people definitely will go to heaven. St Peter will be at the Golden Gate to receive them personally.

What is the point of having so much money when one is about to die? What is the point of saving and saving when one is supposed to work till one drops dead?

Kopi Level - Green


Anonymous said...

Aiya RB, the govt did this for your own good mah. Anyway I have always look at cpf as a tax so I have never plan that I can touch that money. If not I already die standing long time ago.

Anonymous said...

RB:Oh, it means more of your savings cannot be touched when you want to withdraw them at the moving withdrawal age of 55/62 or maybe 65/72 in the future.

Those who are born in 1955 can only withdraw at the age of 65,I only
notice when I check recently

Anonymous said...

from Roy Ngerng



virgo49 said...

mr rb, aged 90 teeth all gone except the tongue.

only can eat porridge with chai por. eat albalone chew for one hour with gum still cannot swallow.

withdrawal one million dollars for what???

mei mei waiting also with vigara and chalis also no use liao

only cougar aunties can still get yew kee young hunks.

oldies uncles can only use their tongues.

Anonymous said...

Aiya, even if $100K minimum sum, I think a lot of people CPF $ also not enough for any withdrawal at 55.

So why bothered if it is $155K or even $200K, u tell me lah?

Chua Chin Leng aka redbean said...

Anonn 8:45, you are so generous. Many people would not even see $10k in their savings account in their life time.

Now the govt wants them to save $155k plus 43K in Medisave making a total of nearly $200k as starters.

Imagine what this kind of money would mean to these people?

Anonymous said...

What it means is that if CPF minimum sum is increased, more Sinkies may not be able to withdraw at 55 lah. Or can only withdraw less.

And I think PAP, not being daft, also knows.

But they know even more. They know that 60%, being smart, will not be affected by increased minimum CPF sum.

Simply because these 60% smart Sinkies have made so much money under PAP that they have much more in their bank accounts than their CPF accounts!

Anonymous said...

"Many people would not even see $10k in their savings account in their life time."
RB 9:22 am

Pleas lah, RB. Anyway u are not the govt so u don't have the data how many rich Sinkies are there.

And the govt has the data and hence they know. And they know there are many Sinkies who are rich and richer than what RB think.

Anonymous said...

What is the use of having so much money when you are about to die? You should direct that question to LKY.

Anonymous said...

I think there are many more rich Sinkies than poor Sinkies in high cost of living Sinkieland.

If not, there will be more unhappy Sinkies than happy Sinkies.

And PAP would not have got majority 60% votes.

Anonymous said...

Our govt is the smartest in the World.

Given the size of Spore, they understand that any issues, particularly social, could just simply be turned inyo a political issue, and that is whey they "really care" your CPF balance. The motive is not only convicing but also deceiving. And I think the minimum sum scheme is no different from the MLM scheme.

What do you think?

Anonymous said...

I think the PAP think that the increased CPF minimum sum will not make the opposition ready or more ready to be govt.

Therefore PAP think getting 60% votes again is no issue.

Ⓜatilah $ingapura⚠️ said...

I'm fucking dancing for joy, even though I lost a bet. I bet the sum would be 200k.

I have a group of friends -- we are, I supposed full of schadenfreude -- i.e. we find delight whenever the ELECTED government tekans the very sheeple who voted for them and kept them at the helm since the Cold War. We make bets with each other to try and "guess" what the govt is going to do next.

My prediction: next on the cards CAPITAL GAINS TAX, increase GST to 10%

IRAS is going to fuck everyone.. kena kongkek dalam pantat dengan paku besar sampai mati!

Anonymous said...

Singaporeans must love the CPF.
We keep voting for PAP who keeps changing the rules.

Anonymous said...

People please stop complaining.

If the gahman doesn't increase your CPF collection, then where are they going to find money for Whore Jinx aka Marie Antoinette of S'pore to speculate and lose by the billions.

Two deals that caught my attention:

1) Spent US$8b to buy Merrill Lynch at US$55 in 2007 and sold BAC (Bank of America) at US$3.50 in 2009 after BAC took over ML.

2) Bought ABC Learning in Sydney for A$780m and within six months it declared bankrupt and today it's worth zero!

Anonymous said...

Govt keeping increasing the amount as and when they see fit and also extend the withdrawal age fm 55 to 62,65,...... Yet the 60% still keep supporting blindly. Not to mention other issues like 6.8/8m pop, healthcare, housing, massive FT influx, transportation etc... i wonder what will it take to wake up the 60%. Some will say opps not proven. I say let them hv the opportunity to prove themselves. We are already in a no win situation with some many screwed policies. We need to reverse them b4 we it gets even worse. Now all policies are shaft down to us with no avenue for debate or stopping wrong policies. G always says unpopular decisions are good fr us. What do u think.

Ⓜatilah $ingapura⚠️ said...


>> Some will say opps not proven. I say let them hv the opportunity to prove themselves.

The only thing anyone will prove is that post election: The sheeple will get the government they deserve.

Politics is culture expressed writ large. You can change your political leader, but the cuntree will at its soul, still be the same. Sheeple will always be sheeple unless they change. As you already know: change comes from within.

The day after the election: "Say hello to the new boss. Same as the old boss"

Here's the reality: You won't be getting your cpf minimum sum. Minimum sum is prescribed BY LAW -- i.e. it doesn't matter which govt is in. The CPF ponzi tax is LEGAL. How the govt administers it is LEGAL.

I am still betting on an $200k minimum sum. As more baby boomers retire, that sum is going to INCREASE.

agongkia said...

I dare not say Matilah short sighted.
250K should be a better figure though 300 K is 'betterer'

jjgg said...

The real sad thing is, if you die alone with no money n a huge cpf balance..u can't even blow your cpf on a huge send off for yourself...n the monies go to unclaimed funds...how cruel can a system be..just remember your nominations should include firstly..your loved ones...next..anybody else, in the eventuality that u succeed your loved ones...just don't leave it to the leeches

Anonymous said...

There are ways to get around the minimum sum lah. See below one of the ways:

Exemption From The Minimum Sum

You may apply for exemption from the Minimum Sum Scheme if you have bought your own life annuity using cash. The monthly payment you receive from the life annuity should be equal or above the Minimum Sum monthly payment. The same applies to pensioners receiving a monthly pension equal or above the Minimum Sum monthly payment.

To apply for exemption, just submit a copy of the annuity policy or recent letter issued by the Pension Office of the Accountant-General’s Department certifying the monthly pension amount. You may wish to visit the Pensioner’s Portal for more information.

Ⓜatilah $ingapura⚠️ said...

@agongkia 1229:

Sure, 250 300k is very possible.

However, lets lock in a time frame.

I say that on 1st Jan 2020, CPF minimum sum will be $200,000.

I bet $50.(SGD). You game?

Ⓜatilah $ingapura⚠️ said...

This is an anthem from my youth. I used to sebok convent and raba scgs gals to this music in the wild 1970's -- when roti prata and bus fares cost 10 cents...and those gal from way back are some you young fuckers mothers now :-)

Listen to the words, take it to the next election -- if you still believe in voting by then.

The Who "We Won't Get Fooled Again"

Anonymous said...

Did you vote for the govt to raise your CPF Minimum Sum as and when they like?

Anonymous said...

CPF minimum sum will keep on increasing.

The plan is to do away with retirement age, which wlll also go the way of minimum sum, meaning no more stopping work until you cannot work. They are slowly selling the idea and soon they will tell Sinkies you cannot expect to retire. Same as saying they cannot expect no floods are MRT breakdowns.

Welcome to the third world from first.

Chua Chin Leng aka redbean said...

Where there is no retirement age there is no need for retirement fund.

Anonymous said...

RB, still need lar as your last moment that u can no longer work still need the money to survive mah not that u gong off immediately hor

Anonymous said...

Where there is no job security, there is no need for retirement age as well.

Then their arguments may change, as with this scenario Sinkies do need retirement funds.

Without a job at 40, Sinkies need more retirement funds than ever. They cannot live on fresh air and water, which still costs money.

In any case, by the time they qualify to start their drawdown on their retirement funds, the next 25 years will be a living hell.

But, as always, everything is still affordable, whatever that means.

b said...

A gov under an elite party will not care about the people. The people have to learn to vote for non elite party to change that. Unfortunately, the people are very divided by circuses and bread.

b said...

A good gov will increase the rate of return and not the minimum sum to compensate for inflation. Gov under any elite party is like a bunch of thieves.

Anonymous said...

Anon 11.46am

30 May 2009 @ 03:38 am AEST

Temasek Holdings, Singapore's state owned investment company lost US$39.91 billion between March and November 2008, or about half of its portfolio gains from the previous five years, the city state's finance minister, Tharman Shanmugaratnam said.

Mr. Tharman, speaking in parliament stated that the fall in the portfolio was due mainly due to the decline in the value of investments in Singapore caused due to the global financial crisis. He did not disclose the losses incurred by the fund from the recent sale of its holdings in Bank of America Corp.

Mr Tharman said, "Of the S$58 billion decline, S$32 billion was attributable to the drop in market value of just the 10 largest publicly listed Temasek-linked companies in Singapore,"

In Singapore, Temasek controls Keppel Corp., the world's largest rig-builder; Singapore Airlines Ltd.; property developer CapitaLand Ltd.; and Singapore Telecommunications Ltd., Southeast Asia's biggest telecommunications operator by revenue.

Mr. Tharman added that the S$58 billion fall also includes "all unrealized losses" including mark-to-market losses from Temasek's investment in Merrill Lynch. He said the full-year accounts ending March 2009 would not be too different from the losses disclosed since there haven't been any major changes in global equity markets from the end of November to March this year.

In December 2007, Temasek bought 14% in Merrill and this stake was converted into shares of Bank of America following Merrill's acquisition by the U.S. bank in September. Temasek confirmed that it had divested its entire stake in Bank of America during the first quarter of the year.

"The sale of its [Bank of America] stake does not signify a shift in Temasek's investment orientation, from long term to short term," Mr. Tharman said. "Temasek may divest an investment, even at a loss, to get a better mix of risks for its overall portfolio or to position itself to take advantage of opportunities elsewhere."

Mr. Tharman further stated that Temasek makes riskier investments as compared to the Government of Singapore Investment Corp., which invests Singapore's foreign-exchange reserves, and in turn is expected to generate higher returns.

"While Temasek has performed better than many other large investors over this six-year market cycle, it is not realistic to expect it to outperform in every cycle," he said. "It is also not realistic to expect it to avoid losses on every individual investment, or losses on its overall portfolio when the markets go through sharp corrections."

This article is copyrighted by Ibtimes.com.au.

agongkia said...

@Matilah 12.52
1st Jan 2020 maximum 198 K nia .
S$50.00 ON.Plus one specially selected chicken from Angeles City.Muahhh........

Anonymous said...

Agongkia, u are a real motherfucker discussing your exploitation of woman publicly with matilar on RB blog. U sure u also still have your two tiny or not? Got check in your last shower?

Anonymous said...

Matilah and Agongkia could possibly be the most realistic guys here.
With the current high cost of livings that get higher by the hour, $300ks as the minimum may not be sufficient by 2020.

Anonymous said...

Heaven help us!

Those whose Minimum sum do not reach the ceiling will suffer a massive shock upon reaching 55, when a hugh chunk of the ordinary account balance will be used to top up their MS.

They are really out to conficate every cent that goes into CPF. Now, a $10K increse every year is no joke. Some lower income people hardly contribute more than a couple of thousands into CPF and it all goes into a black hole. How much do one need to earn per month to plug this CPF black hole?

Sinkies better think twice come GE 2016.

Ⓜatilah $ingapura⚠️ said...


$50 ok.

>> Plus one specially selected chicken from Angeles City.Muahhh........

Oh man...now I'm feeling "homesick" ;-)


>> discussing your exploitation of woman publicly with matilar

Please lah. Relac and chill. If you really know "the scene", you will know that these women are not "exploited". They are the ones "exploiting" men's weakness for cheap easy sex with a variety of hot gals (and hot boys who look like gals -- if that is how you roll. Different strokes...).

Me? I'm very weak. I surrender to sexual lust effortlessly. Plus, I'm always willing to render "financial aid" to any hot-looking lass who needs money. Free trade lah. (AFTA -- ASEAN Free Trade Area)