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[AMA][NOT AFFILIATED/OFFICIAL] CPF for retirement age... I will do my best to answer.

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Old 12-07-2018, 02:09 PM   #16
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Generally, medisave can only be used for some medical bill as i understand.

If one stays healthy or die early, he/she will have no chance to "use" medisave.
I know what medisave will then pass on to my nominee.

the question here is why are we "saving" for someone else?

At least for OA, i can use for investment, like shares and property.
SA for my retirement.

I even wrote in to CPF about this and the reply is very official. "Medisave is to protect you....."
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Old 12-07-2018, 03:08 PM   #17
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So can I say if eg:
OA: 400k
SA: 325K
MA: 52k

FRS: 316K

At age 55 I can take out 409k?
then the 316k is whenever I wish to get payout?

but if my hdb not pay via CPF, and since my amount exceeded FRS, there is no diff if I pledge/no pledge my property right

Last edited by GeraldineT; 12-07-2018 at 03:13 PM..
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Old 12-07-2018, 04:12 PM   #18
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Generally, medisave can only be used for some medical bill as i understand.

If one stays healthy or die early, he/she will have no chance to "use" medisave.
I know what medisave will then pass on to my nominee.

the question here is why are we "saving" for someone else?

At least for OA, i can use for investment, like shares and property.
SA for my retirement.

I even wrote in to CPF about this and the reply is very official. "Medisave is to protect you....."
I so far use medisave for scan ($400 limit / year) nia.. It's not an 'efficient' savings account but it works as the last layer for medical bills. In addition, this medisave, you can use your portion for your immediate family members if they need additional financial assistance so it's a last resort kind of protection.

From my experience with other people's knowledge of medisave, the money is not give people keep; It's more for the 'funeral expense' (棺材本) especially when the elderly don't have children or siblings to handle these matters. You can say you don't need it but not everyone need it either. Problem with gahmen policy is 1 for all, all for 1.. Else if people start opt-ing out, those kum gong useless spoon feed generation will also anyhow opt out, by then who settle their funeral expenses when they die? Tax payer monies? no right?

Sauce: https://www.moh.gov.sg/content/moh_w...al_Limits.html

So can I say if eg:
OA: 400k
SA: 325K
MA: 52k

FRS: 316K

At age 55 I can take out 409k?
then the 316k is whenever I wish to get payout?

but if my hdb not pay via CPF, and since my amount exceeded FRS, there is no diff if I pledge/no pledge my property right
OA + SA - Minimum sum = amount you can withdraw

https://www.cpf.gov.sg/Assets/member...withdrawal.pdf
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Old 12-07-2018, 04:44 PM   #19
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Also important point to note. It is POSSIBLE to exempt from retirement sum scheme provided
  1. you have your own life annuity bought using cash. The monthly payout you receive from the life annuity should be equal to or above the full monthly payout; or
  2. are a pensioner receiving a monthly pension equal to or above the full monthly payout.
Pple complaining about CPF is not your money and govt will never give U back your money should go slap themselves.
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Old 12-07-2018, 04:48 PM   #20
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How about those needy , poor family ?

no job, for elderly parents and their Med save all wipe out

for expensive health care ?


in before caresheold life , this is nothing new , Gov already implement last time just change the name

etc etc

so in the end RIP , the Gov will deduct from the next of kin , kid medi save to pay those { Outstanding medical bill ??? )

like that isn't creating a Snow ball effect ?
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Old 12-07-2018, 05:20 PM   #21
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Pple complaining about CPF is not your money and govt will never give U back your money should go slap themselves.
Tell that to chia yong yong, tell her go slap herself.

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Old 12-07-2018, 05:21 PM   #22
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Free labour

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Old 12-07-2018, 07:29 PM   #23
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How about those needy , poor family ?

no job, for elderly parents and their Med save all wipe out

for expensive health care ?



in before caresheold life , this is nothing new , Gov already implement last time just change the name

etc etc

so in the end RIP , the Gov will deduct from the next of kin , kid medi save to pay those { Outstanding medical bill ??? )

like that isn't creating a Snow ball effect ?
main point is if the person as jialat as you say it to be. He's probably in community welfare programme plus got blue CHAS card (free healthcare basically) plus got wide range of social welfare services.

the line in red is your own assumption. no proof and not a question so no point replying.
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Last edited by tuanehji; 12-07-2018 at 07:34 PM..
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