| 4.18 To encourage Singaporeans to set
aside savings for their parents and non-working spouses,
I will also liberalise the criteria for CPF members
to make top-ups to the Retirement Accounts of their
parents and non-working spouses aged 55 and above. Currently,
to do a top-up, a member must have a regrossed CPF balance
of more than twice the prevailing CPF Minimum Sum. Additionally,
the member’s net balances in his Ordinary and
Special Accounts must be more than twice the prevailing
Minimum Sum cash component. CPF Board will now allow
an individual to top up his parents’ or spouse’s
account as long as the net balances in his Ordinary
and Special Accounts, including amounts withdrawn for
investments, are more than 1.5 times the prevailing
Minimum Sum. The limit on the amount of top-ups that
can be received will also be enhanced. Details will
be released by CPF Board later.
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