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World Infromation / Blog : No.10246 : CPF Minimum Sum
In Reply to: SG Singapore Home Property Questions and Answers posted by Property Agents on June 22, 2007 at 00:06:12:
*You can choose to withdrawall the balance in your Ordinary and Special Accounts (OA/SA), eccept the Medisave Minimum Sum
*But....If you have the full MS but have less than the Medisave Required Amount (MRA), you are required to make a top-up to your MA with part of the CPF
balances from your OA and/or SA to meet the prevailing MRA.
*The Medisave Required Amount (MRA) refers to the amount you are required to set aside in your Medisave Account after meeting the CPF Minimum Sum
requirement.
*The MRA is set at $32,000 from 1 January 2012 and will increase by approximately $2,500 (to be adjusted for inflation) each year until it reaches $25,000
(in 2003 dollars) in 2013.
*From 1 July 2011, the CPF Minimum Sum will be increased from $123,000 to $131,000. will be adjusted yearly for inflation.
*Minimum Sum and Minimum Sum cash component for different cohorts of members 55 and above
55th birthday on or after/Minimum Sum applicable/ Minimum Sum cash component:
1 July 95 /$40,000/ $4,000
1 July 96/ $45,000/$8,000
1 July 97/$50,000/$12,000
1 July 98/$55,000/$16,000
1 July 99/$60,000$20,000
1 July 00/$65,000/$25,000
1 July 01/$70,000/$30,000
1 July 02/$75,000/$35,000
1 July 03/$80,000/$40,000
1 July 04/$84,500/$42,250
1 July 05/$90,000/$45,000
1 July 06/$94,600/$47,300
1 July 07/$99,600/$49,800
1 July 08/$106,000/$53,000
1 July 09/$117,000/$58,500
1 July 10/$123,000/$61,500
1 July 11/$131,000/$65,500
1 July 12 To be announced in 2012
Note: From 1 July 2003, the required Minimum Sum cash component is half the Minimum Sum applicable.
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*The Minimum Sum draw down age will be raised gradually from 62 to 65.
Year of Birth
Applicable Draw Down Age (DDA)
1944 to 1949
62
1950 and 1951
63
1952 and 1953
64
1954 and after
65
If you reached 55 before 1 January 1999, your Draw Down Age is 60.
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What happens from my Draw Down Age (DDA) after I join CPF LIFE?
Ans:You will start to receive the monthly payout for as long as you live from your Retirement Account (RA) and/or annuity depending on the LIFE plan you had
chosen. The monthly payout would be credited to your bank account via inter-bank GIRO (IBG) by the 4th working day of each month.
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You are eligible to receive your CPF Minimum Sum monthly payment from your applicable draw down age.
If you wish to commence your monthly payments, please apply via the following channels:
Submit an online application with your SingPass via My Requests
OR
Complete this application form and mail it to:
CPF Board
Retirement Schemes Department (MSS)
79 Robinson Road
Singapore 068897
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