Tag Archives: Minimum Sum

[YOUR LETTERS] CPF WEBSITE UNABLE TO EXPLAIN CPF POLICIES CLEARLY AND CONFUSE SINGAPOREANS

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.

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CPF Minimum Sum raised to $155,000 from July

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.

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