70,000 Singaporeans yet to qualfy for CPF Top-ups
24 May 20051. 2.2 million Singaporeans have qualified for the CPF top-ups of between $50 and $450 to be made on 1 July 2005.
2. All Singaporeans who qualified for the third lot of Economic Restructuring Shares (ERS) early this year will automatically receive the top-ups on 1 July 2005.
3 In April 2005, the CPF Board sent letters to the remaining 75,000 Singaporeans to ask them to reply if they want the top-ups. So far only 5,000 Singaporeans have returned the forms provided. The rest must return their form by 31 May 2005 to qualify.
4. The top-up of between $50 to $350 to the CPF Medisave Accounts will help Singaporeans adjust to the increase in MediShield premiums while the top-up of $100 to the CPF Retirement or Special Accounts will help older Singaporeans save more for their retirement needs. Table 1 shows the amount of CPF top-ups Singaporeans will receive on 1 July 2005.
Table 1: Top-Ups to CPF Medisave and Retirement or Special Accounts
|
Age on 1 Jan 2005 |
||||
|
21-39 |
40-49 |
50-59 |
60 and above |
|
|
Medisave Top-Up Amount |
$50 |
$100 |
$250 |
$350 |
|
Retirement/Special Top-Up Amount |
- |
- |
$100 |
$100 |
|
Total CPF Top-Up |
$50 |
$100 |
$350 |
$450 |
5. The form to claim the CPF top-ups can also be downloaded from the CPF website.The public can call 1800-227-1188 for assistance.
MINISTRY OF FINANCE