CPF AMCS when BHS is reached

[Rayleigh1]

Anyone knows whether an employer Additional MediSave Contribution Scheme (AMCS) MA contribution will still go through when the staff's MA Basic Healthcare Sum (BHS) is reached? Does the excess go over to SA or will the AMCS just fail to go through? Thanks.

 

[BBCWatcher]

Anyone knows whether an employer Additional MediSave Contribution Scheme (AMCS) MA contribution will still go through when the staff's MA Basic Healthcare Sum (BHS) is reached?

Yes, it will.

Does the excess go over to SA or will the AMCS just fail to go through?

Neither. The AMCS amount will still flow into MA. Yes, even above the BHS.

 

[beautyseek]

Checked on cpf website and see below

MediSave savings above the Basic Healthcare Sum (BHS) will be transferred to your CPF Special Account (SA) or Retirement Account (RA), which have interest rates equal to or higher than that of the MediSave account. The BHS cap and overflow arrangement are designed to avoid over savings in MediSave and to supplement the member’s retirement savings, which can be withdrawn per the usual CPF withdrawal rules. For members who have met the Full Retirement Sum in their SA or RA, the savings in excess of the BHS will be transferred to the Ordinary Account (OA). Savings in the OA can be used for other purposes such as housing repayment.

 

[dork32]

Yes, it will.


Neither. The AMCS amount will still flow into MA. Yes, even above the BHS.

this is wrong lah. i have additional ma contribution bty employer. my ma is stuck at bhs. the additional contribution all go to my oa (or sa for some other people)

i too lazy to print my cpf statement for you to see.

 

[zoneguard]

Yes, it will.


Neither. The AMCS amount will still flow into MA. Yes, even above the BHS.

https://www.cpf.gov.sg/Employers/Em...ns/voluntary-contributions-for-your-employees

Q: What happens if I make an additional MediSave contribution to an employee who has reached the Member’s Basic Healthcare Sum?
A: Any MediSave contributions in excess of the Member’s Basic Healthcare Sum (BHS) will be transferred to the Special Account for members aged below 55 if they do not have the Full Retirement Sum, and to the Retirement Account for members aged 55 and above. Otherwise, the excess CPF contribution will be transferred to the Ordinary Account.

Note:

The BHS will be adjusted yearly for members who are below age 65 in each year to keep pace with the growth in MediSave use by the elderly, especially with rising life expectancy and healthcare costs, as well as expansions in MediSave use. Once members turn age 65, their BHS will remain fixed.

 

[dork32]

https://www.cpf.gov.sg/Employers/Em...ns/voluntary-contributions-for-your-employees

ok you win. but i am not wrong either.

 

[doody_]

MA can never go above BHS.

 

[BBCWatcher]

Ernst & Young reported the AMCS wasn't limited to the BHS, but evidently now it is. Fun!

 

[dork32]

Ernst & Young reported the AMCS wasn't limited to the BHS, but evidently now it is. Fun!

my company give additional 1% of pay as cpf ma since time began. i have been getting this for many many years already. never once had my ma exceeded bhs before.

it is ok we learn from each other.

just like you taught me that transfer oa to ra is not possible if sa is not 0

 

[henrylbh]

Ernst & Young reported the AMCS wasn't limited to the BHS, but evidently now it is. Fun!

Ha ha. Not evidently now. The rule has been in place even before you join MM in 2010. Why mention EY instead of CPF for support? And I am sure EY was and is not wrong.

 

[reddevil0728]

Ha ha. Not evidently now. The rule has been in place even before you join MM in 2010. Why mention EY instead of CPF for support? And I am sure EY was and is not wrong.

Oh guess cause cpf website constantly updated hence cannot find old information to provide as evidence

 

[henrylbh]

Oh guess cause cpf website constantly updated hence cannot find old information to provide as evidence

This one can only be guessed for excuse. There was no update on AMCS.

FYI, AMCS can only exceed annual contribution limit.