CPF Minimum Sum to be raised to S$139000

CPF Minimum Sum to be raised to S$139000

CPF Minimum Sum to be raised to S$139000

CPF Minimum Sum to be raised to S$139000

Central Provident Fund (CPF) members, of whom turn 55 this July and 30 June next year to set aside a minimum sum (MS) S $ 139,000, higher than the S $ 131,000 last year.

The CPF Board and Ministry of Manpower (MOM) said in a statement today that the MS has changed over the years, inflation, longer life expectancy and the growing expectations of the Singapore of the quality of life after retirement.

They said that since 2004, the MS has grown each year to reach S $ 4,000 S $ 120,000 in 2013 as the Economic Review Committee 2003rd

 CPF Minimum Sum to be raised to S$139000

The actual growth of the MS is adjusted for inflation annually, and this is why more than S $ 4,000 a year, must be recognized that the increase in inflation in 2003, when growth.

2003 target of S $ 120,000 in 2003 U.S. dollars adjusted for inflation, the goal is reached and the time to the actual value of the goal to maintain.

On the basis of inflation over the past year, and the integration of the annual S $ 4,000 (2003 dollars) as a result of adjustment of the growth in MS this year was S $ 12,000, which is relatively large compared with previous years.