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Are your MediSave Account (MA) savings about to reach the Basic Healthcare Sum (BHS)? Keep watching to see where your excess savings go when the BHS is met! 👀
💡The BHS is the maximum savings you need in your MediSave Account for basic subsidised healthcare in old age.
When your BHS is reached, your savings will flow to your Special Account (SA) and Ordinary Account (OA), ensuring a balanced allocation across your CPF accounts. This helps you tap into your savings for other essential needs such as housing repayment 🏠.
Head here for more info 👉 cpf.gov.sg/SavingsAboveBHSTG
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
💡The BHS is the maximum savings you need in your MediSave Account for basic subsidised healthcare in old age.
When your BHS is reached, your savings will flow to your Special Account (SA) and Ordinary Account (OA), ensuring a balanced allocation across your CPF accounts. This helps you tap into your savings for other essential needs such as housing repayment 🏠.
Head here for more info 👉 cpf.gov.sg/SavingsAboveBHSTG
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
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Feeling a bit fuzzy on what MediShield Life (MSHL) is and how it can ease your healthcare costs? 🤔
We’ve got you! Check out our quick guide with everything you need to know about MSHL and how it benefits you. Click here to read more 👉 cpf.gov.sg/MediShieldLifeGuideTG
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
We’ve got you! Check out our quick guide with everything you need to know about MSHL and how it benefits you. Click here to read more 👉 cpf.gov.sg/MediShieldLifeGuideTG
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
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Do you know someone who is aged 55 or above? Let them know that their Special Account (SA) has been closed since 19 Jan 2025.
Their SA savings have been transferred to their Retirement Account (RA), up to their cohort’s Full Retirement Sum (FRS), where they will continue to earn the long-term interest rate from Jan 2025 onwards. If they’ve already set aside their FRS, any remaining SA savings have been transferred to their Ordinary Account (OA) where they will have the flexibility to withdraw them when needed. 💰
If they would like to continue earning the higher interest rate of 4% per annum and enjoy higher retirement payouts, they can transfer their OA savings to their RA up to the current year’s Enhanced Retirement Sum (ERS). Do note that this transfer is irreversible and can be made anytime.
Learn more about the SA closure here 👉 cpf.gov.sg/PressReleaseTG
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
Their SA savings have been transferred to their Retirement Account (RA), up to their cohort’s Full Retirement Sum (FRS), where they will continue to earn the long-term interest rate from Jan 2025 onwards. If they’ve already set aside their FRS, any remaining SA savings have been transferred to their Ordinary Account (OA) where they will have the flexibility to withdraw them when needed. 💰
If they would like to continue earning the higher interest rate of 4% per annum and enjoy higher retirement payouts, they can transfer their OA savings to their RA up to the current year’s Enhanced Retirement Sum (ERS). Do note that this transfer is irreversible and can be made anytime.
Learn more about the SA closure here 👉 cpf.gov.sg/PressReleaseTG
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
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🤔 Know someone who's turning 55? Remind them to update their bank account to PayNow NRIC-linked bank account with a quick one-time update.
🔔 Before updating, ensure the bank account is linked to PayNow NRIC. Even if they've withdrawn before, this update is necessary for added security against scams. Enhanced authentication and a 12-hour cooling period will apply for the update to take effect.
Check out our FAQ on why one should update their bank account 👉 cpf.gov.sg/UpdateBankAccountTG
🔔 Before updating, ensure the bank account is linked to PayNow NRIC. Even if they've withdrawn before, this update is necessary for added security against scams. Enhanced authentication and a 12-hour cooling period will apply for the update to take effect.
Check out our FAQ on why one should update their bank account 👉 cpf.gov.sg/UpdateBankAccountTG
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Show your parents some love and appreciation with a cash top-up this year 💝
From 1 Jan 2025, every dollar you top up to their Retirement Account will be matched dollar-to-dollar by the Government up to $2,000 per year!💰🎉 That’s more than 3x last year’s $600 under the Matched Retirement Savings Scheme (MRSS).
Check if your parents qualify here 👉 cpf.gov.sg/MRSSEligibilityCheckerTG
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
From 1 Jan 2025, every dollar you top up to their Retirement Account will be matched dollar-to-dollar by the Government up to $2,000 per year!💰🎉 That’s more than 3x last year’s $600 under the Matched Retirement Savings Scheme (MRSS).
Check if your parents qualify here 👉 cpf.gov.sg/MRSSEligibilityCheckerTG
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
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Are you a Platform Worker (PW)? 📱🛵 🚗 If you provide ride-hail or delivery services through platform operators, this is for you!
You may have heard about the recent changes to CPF contributions designed to better support your housing, healthcare and retirement needs.
Take this #CPFFlashQuiz to see how much you know about these updates! Got the answers wrong? Don’t worry—you can try again and learn something new along the way! 😊
You may have heard about the recent changes to CPF contributions designed to better support your housing, healthcare and retirement needs.
Take this #CPFFlashQuiz to see how much you know about these updates! Got the answers wrong? Don’t worry—you can try again and learn something new along the way! 😊
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CPF contributions to all three CPF accounts are mandatory for PWs born on or after which year?
Anonymous Quiz
39%
1994
27%
1995
9%
1996
25%
1998
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To support PWs during this transition, the Government will offset the increase in the share of CPF contributions with the Platform Worker CPF Transition Support (PCTS) for lower-income PWs with cash support for how many years?
Anonymous Quiz
33%
2
36%
3
31%
4
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How will the Workfare Income Supplement (WIS) be changed to support eligible PWs as they adjust to the CPF changes?
Anonymous Quiz
14%
Payments will be made monthly instead of annually from Mar 2025
6%
The payout amount will be increased
81%
All of the above
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Need more information? 🤔 Read this article for a summary of everything you need to know about the increased CPF contributions and how the Government will support PWs 👉 cpf.gov.sg/CPFForPWsTG
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.
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