| The Prime Minister
announced last year a Pre-Medisave Top-Up Scheme in
three instalments, to help older Singaporeans who retired
before or soon after the onset of Medisave to build
up their Medisave accounts. The first instalment was
paid in January 1996. The Prime Minister has said that
the second instalment due in January 1997, and the third
instalment due in January 1998, would depend on the
state of the economy. As the economy has done well,
I am happy to confirm that the Government will pay the
second instalment of the Pre-Medisave Top-Up Scheme
in January 1997 as scheduled. The top-up grant will
be paid into the CPF Medisave accounts of eligible Singaporeans
who are 62 years or older on 1 April 1996. As with the
first instalment, eligible recipients will have to make
a co-payment of $50 between 1 July 1996 and 31 December
1996 into their CPF Medisave Account. The Government
will match this $50 with a contribution of $100 to $350
depending on the age group. 300,000 senior citizens
qualify for the scheme and the total cost of this, if
fully taken up, is $85 million.
In addition, the Government has reviewed
the Pre-Medisave Top-Up Scheme, and decided to enhance
it by adding one more instalment, increasing the package
from three to four instalments. The fourth instalment
will be paid in January 1999. The eligibility criteria
and the co-payment requirements are the same as for
the earlier instalments. The fourth instalment will
also be subject to the state of the economy then. |
