Source :
http://www.todayonline.com/singapore/cpf-minimum-sum-rise-s155k-july
Quote --- SINGAPORE — The CPF minimum sum will be raised to
S$155,000 for those who turn 55 between July 1 this year and June
30 next year, the CPF Board and the Ministry of Manpower (MOM)
announced in a statement today (May 8).
This is S$7,000 more than last year’s minimum sum of S$148,000.
“To cater to Singaporeans’ rising expectations of what is
considered a basic standard of living in retirement, the CPF
minimum sum has been increasing for each group of members turning
55 yearly, to reach a target of $120,000 (in 2003 dollars) by 2015.
In order to maintain its real value over time, the minimum sum
increases to account for inflation,” said the CPF Board and
MOM.
From July 1, the Medisave Minimum Sum will also be raised to
S$43,500 from S$40,500, while the Medisave Contribution Ceiling
will be increased correspondingly to S$48,500, from S$45,500.
Unquote--- Info taken from Today online credits:
http://www.todayonline.com/
This means 155K has to be in CPF account till you die?And govt
get this money?And what if you don't have this money?
