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Changes
to SingPass system
Past
CPF contribution rates CPF
Services - Milestones
Contact CPF Board:
Medisave: 1800 - 227 1188 - Code 4 or e-mail healthcare@cpf.gov.sg Minimum Sum: 1800 -
227 1188 - Code 5 or e-mail retirement@cpf.gov.sg Nomination: 1800 -
227 1188 - Code 1 or e-mail nomination@cpf.gov.sg PAL-Internet: 1800 -
227 1188 - Code 1 or e-mail pal@cpf.gov.sg
The CPF Web site is at www.cpf.gov.sg.
News Snippets
2007
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Medishield for special needs children |
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Persons with congenital illnesses can join
MediShield to obtain coverage for medical treatment that is not related
to their congenital condition... |
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As for children attending special
schools or with special needs, the basis of coverage is the same as
the basis for other children, that is, they should be healthy at the
point of entry and have no pre-existing illnesses... |
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More..... |
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Changes
to SingPass system |
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Come 25 November 2007, Singaporeans who have
forgotten their Singapore Personal Access (or SingPass) password will be
able to get it reset almost immediately... |
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The new hotline, SingPass website and system
administration will be managed by CrimsonLogic Pte Ltd, who was
appointed by the Government through a competitive tender to develop,
operate and maintain SingPass in April 2006. SingPass was previously
managed by the Central Provident Fund Board... |
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More..... |
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Medisave lucky draws for self-employed and informal
workers |
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The Government is introducing the Medisave
Contribution Draw (MCD) to encourage low-income self-employed persons (SEPs)
and informal workers to contribute to their Medisave accounts... |
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The MCD will consist of four quarterly draws
for each year of work done... |
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The MCD will run for three years and will be
reviewed thereafter... |
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More..... |
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Significant changes to the CPF system |
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"By 2012, we will require employers to offer re-employment to workers
reaching 62, up to age 65, and eventually to 67. This change will
precede the raising of the Draw Down Age (DDA). By 2012, employers
will be required to offer re-employment up to age 65 but the DDA to
65 will only be effected in 2018 – a significant time lag to help
workers and employers adjust... |
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"1% additional bonus interest will be
paid on the first $60,000 in a CPF member's combined accounts, with not more than
$20,000 from the OA accounts. This will enhance CPF's existing
risk-free framework... |
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"While our employment rates are among the highest in the world, our
residents are also among the longest living. The present DDA of 62
years is hence too early and results in the majority of members
prematurely depleting their savings. Thus, we will do the following: a.
progressively raise draw down age.. |
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"Even after changes to DDA, there will be those who live longer than
85. We want to ensure that they have a stream of income for life. The Government will therefore be looking at making annuities
compulsory for members to protect them against outliving their
retirement savings... |
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More..... |
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$60 million ElderShield premium rebates |
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"Our preliminary computations suggest that
the total ElderShield rebate amount is likely to exceed $60 million.
When confirmed, it will be distributed to the existing policyholders
numbering some 770,000. |
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The rebates, when confirmed, will be given
out in proportion to each policyholder’s contribution during the 5-year
period..." |
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More..... |
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Gearing up Singapore for its 2020 healthcare needs |
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"MediShield coverage among active
workers is not bad, at 90%. But 390,000 Singaporeans below 20
years of age are not insured. The premium at their age is
inexpensive, only $30 per year. |
| "And
young parents can use their Baby Bonus to pay the
premium. So cost is not the issue... |
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"We will introduce an
opt-out scheme for infants to be automatically covered
under MediShield from the time their births are
registered. |
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"Premiums can be deducted
from their fathers' Medisave or alternatively their
mothers'. Parents who do not want such coverage can
opt out any time by informing the CPF Board. We will
get this done later this year..." |
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More..... |
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HDB further relaxes policy on subletting of whole
flats |
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"With immediate effect, HDB will be
relaxing its policy on the subletting of whole flats through a
further reduction of the MOP and delinking it from the lessees’
HDB loan status. The revised MOP is: |
"5 years for owners of
subsidised flats, i.e. flats
purchased directly from HDB or from the open market with a CPF
Housing Grant; and
3 years for owners of non-subsidised flats, i.e.
flats purchased from the open market without a CPF Housing
Grant..." |
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More..... |
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Liberalisation of Medisave |
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As part of the review of Medisave, the
Ministry of Health will be increasing the withdrawal limits in the
following four areas: |
- The inpatient per diem limit
will be increased from $400 to $450;
- The day surgery limit will be
increased from $200 to $300;
- The annual limit for psychiatric
bills will be increased from $3,500 to $5,000;
- Medisave will be allowed for
diagnostic scans such as MRI and CT scans, if they form parts of
outpatient cancer treatment.
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More..... |
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Changes to Medisave and MediShield in 2007 |
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"First, the Ministry of Health will increase
the Medisave inpatient daily withdrawal limit from $400 to $450... |
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"Second, the Ministry of Health plans to
allow Medisave use for MRI and CT scans, if they form part of an
outpatient cancer treatment... |
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"MOH intends to further reduce the
co-payment, in particular the deductibles of Medisave-approved
private insurance plans, in 2007..." |
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More..... |
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Medisave can now be used for outpatient treatment of three
additional chronic diseases
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Singapore economy expected to grow by 4-6% in 2007 |
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"In the last five years, our real
per-capita GDP grew on average by 4.3% per annum, but real average
wages (after adjusting for inflation) grew at only half this rate
– 2.1%. |
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"Higher-end wages have risen by more
than this. But at the lower-end wages have increased by much less,
and some have even stagnated. |
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"This is why we are implementing
Workfare as a fourth pillar of our social safety net, together
with the CPF, the 3Ms (Medisave, MediShield and Medifund) and HDB
home ownership..." |
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More..... |
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Changes to CPF Minimum Sum and Investment schemes from 1 Jan 2007
2006
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More Medisave-Approved claims settled faster by insurers
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Flat buyers taking an HDB loan need HDB loan eligibility letter
- Committee
formed to steer Medisave use for chronic disease management
2005
- CPF
Board tightens admission criteria for new CPFIS funds
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Central Provident Fund (CPF)
