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What happen when Medisave account hits the max?

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Old 16-09-2018, 06:57 PM   #1
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What happen when Medisave account hits the max?

Hi all, my SA account is still below the current $171k FRS, but my MA monthly contribution flows to my OA. Does anyone know why? I have done a 7k top up to SA this year. Not sure if I will still get income tax relief?
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Old 16-09-2018, 07:03 PM   #2
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Money flows to SA.

After SA max, money flow to OA.

Sent from . using GAGT
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Old 16-09-2018, 08:19 PM   #3
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Hi all, my SA account is still below the current $171k FRS, but my MA monthly contribution flows to my OA. Does anyone know why? I have done a 7k top up to SA this year. Not sure if I will still get income tax relief?
This is strange. Can you show a screenshot of the statement?
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Old 16-09-2018, 09:23 PM   #4
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Did you attempt to make a directed, Medisave-only cash top-up when your Medisave Account had already reached the Basic Healthcare Sum (BHS)?
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Old 16-09-2018, 09:35 PM   #5
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Hi all, my SA account is still below the current $171k FRS, but my MA monthly contribution flows to my OA. Does anyone know why? I have done a 7k top up to SA this year. Not sure if I will still get income tax relief?
If I can top-up means should be ok

Do you have cpfis SA account with balance?
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Old 16-09-2018, 11:25 PM   #6
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Hi all, my SA account is still below the current $171k FRS, but my MA monthly contribution flows to my OA. Does anyone know why? I have done a 7k top up to SA this year. Not sure if I will still get income tax relief?
Your eligible top-up of 7k (assuming no refund for excess top-up) to SA this year will only be granted tax relief against this year’s income to be submitted next year.

According to CPF, once your MA reaches BHS, your medisave savings will flow to either your SA or RA.

If the top-up does not bring your SA to 171k, then your monthly MA contribution (above BHS) should flow into your SA.

Last edited by henrylbh; 16-09-2018 at 11:28 PM..
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Old 16-09-2018, 11:39 PM   #7
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Your eligible top-up of 7k (assuming no refund for excess top-up) to SA this year will only be granted tax relief against this year’s income to be submitted next year.

According to CPF, once your MA reaches BHS, your medisave savings will flow to either your SA or RA.

If the top-up does not bring your SA to 171k, then your monthly MA contribution (above BHS) should flow into your SA.
I forgot my SA investment
With this, I hit FRS
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Old 17-09-2018, 06:06 AM   #8
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I forgot my SA investment
With this, I hit FRS
Interesting. How did you do your SA investment?
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Old 17-09-2018, 09:05 AM   #9
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Interesting. How did you do your SA investment?
Unit trusts
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Old 17-09-2018, 01:39 PM   #10
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I forgot my SA investment
With this, I hit FRS
Like that, you may not be eligible for tax relief on your top-up.

"Only cash top-ups within the following caps, which are computed based on the current Full Retirement Sum (FRS) and the recipient’s CPF savings, will be eligible for tax relief:

Below age 55 - Current FRS less the sum of Special Account (SA) savings and net SA savings withdrawn under CPF Investment Scheme for investments that have not been completely disposed of"
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