Medisave Minimum Sum versus Medisave Required Amount

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An honorable member of the Coffee Shop Has Just Posted the Following:

It's pretty dumb to create two separate terms and conditions, the MMS and the MRA, when both are essentially saying the same thing, "you *must* have more than this amount in your Medisave".


Quote below from CPF website :

Medisave Minimum Sum

The Medisave Minimum Sum is the amount you need to retain in your Medisave Account, before any excess Medisave savings can be withdrawn, whenever you make a withdrawal of your CPF monies at age 55 and above. The Medisave Minimum Sum ensures you set aside enough savings to meet your future healthcare expenses, especially during old age. The Medisave Minimum Sum is $40,500 since 1 July 2013.

Medisave Required Amount

The Medisave Required Amount (MRA) refers to the amount you need to set aside in your Medisave Account after meeting the CPF Minimum Sum requirement. If you have met the CPF Minimum Sum and have a MRA shortfall at the point of withdrawal, you need to make a top-up to your Medisave Account with part of the balance from your Special Account and Ordinary Account to meet the current MRA.

Since 1 January 2013, the MRA is $38,500.


Article below (written several years ago; note that the MMS and the MRA have both increased significantly since then) taken from : http://mysingaporenews.blogspot.sg/2...ble-speak.html

The above is quoted from the CPF online site. How many of you understand what they mean? One point to note is ‘minimum’ which means that they can make you pay more than this, or take more money from you to be locked up. My Medisave saving is now more than the $36,000 minimum and growing. And this taking money from the people to be locked away, hopefully you have a beneficiary to pick them up when you are deleted, the money will go to the govt’s charity.

Read MRA above carefully. It said it is the amount to be set aside after meeting the Medisave Minimum Sum of $36k at this point in time, and this MRA to be set aside is $27.500. They could technically make a CPF depositor set aside $36k + $27,500 or $63,500, and growing every year.

How much money is kept away from the people by this scheme? At 36k per head, at 2m contributors, that is $72b! This is money that rightfully belongs to the people and must be returned to the people. Under the present scheme, even after 62 or 65, or 70, depending on how far the goal posts are shifted before you can get your monthly pittance from the CPF Dispensary, this money in the Medisave still cannot be touched. This is definitely a violation of human rights, when the people’s money is taken away from them, oh, ‘for the people’s good’, so they said.

Just for this reason alone, it is good enough to vote for another govt to make this withholding of the people’s life savings illegal. At the moment it is legal because the people voted them to Parliament to make this legal. How silly can the people be to vote a govt to take their life savings away from them when they need it?

There are many other things that are legal today that should be made illegal by a govt of the people and for the people. I am waiting and will definitely vote for another govt that will make these illegal and return the money to the people.

Why vote for a President to protect a reserve that we do not know? The people should be voting for a President or govt to protect their life savings in their CPF, to be returned to them when they need it, to be returned to them when they are alive, and not when they are dead.

What is the point of going for a heart by pass at 70 or 80 because one has some money in the Medisave, to be kept alive and penniless in old age? Would it be better to spend the money, enjoy a bit of life, and just let old age and the wear and tear of the body take one’s life away, and live more comfortably, even be an emperor for a few days with one’s own hard earn money?


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