Tag Archives: Minimum Sum

My dad is semi-retired and he is very concerned about the latest changes in the CPF minimum sum scheme. Honestly, I'm only in my mid-twenties and CPF MS doesn't affect me much. Out of curiosity, I searched around the internet to understand more about CPF MS but I was very disappointed because the CPF website itself is so difficult to navigate and it does not explain itself well at all. It is very frustrating.

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. Under the CPF LIFE Standard Plan, setting aside S$155,000 at age 55 provides a lifelong payout of about S$1,200 per month, the statement added.