CPF Minimum Sum increases to $148,000

With effect from 1 July 2013, the CPF Min­im­um Sum will increase from the cur­rent $139,000 to $148,000.  The amount will con­tin­ue to increase every year till 2015, when it reaches $120,000 in 2003 dol­lars. So if assum­ing infla­tion rate of 3% p.a. in 2014 and 2015, the CPF Min­im­um Sum is expec­ted to reach $166,000 in 2015. By 2025, the CPF Min­im­um Sum may increase to $223,000!

The Medis­ave Min­im­um Sum will increase from $38,500 to $40,500. At or after age 55, CPF mem­bers can with­draw their Medis­ave funds in excess of this min­im­um sum. Accord­ingly, the Medis­ave Con­tri­bu­tion Ceil­ing will be increased to $45,500, $5000 above the Medis­ave Min­im­um Sum.

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