on CPF interest and CPF Medisave Ceiling

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on CPF interest and CPF Medisave Ceiling

Post by Dennis Ng »

someone asked:"When is the interest for our CPF OA, Sa and Medisave given out? Do they give monthly or only end of the year?
And what happen to those whose medisave has already reached the ceiling?"

My comments:
from what I understand, the interest is payable once a year in Dec.

If someone has reached his Medisave ceiling, currently $32,500, all future contributions would "overflow" into his CPF Ordinary Account. However, from 1 Jul 2006 onwards, such "overflow" would go into CPF Special Account instead.

Please note that the CPF Medisave ceiling might be increased in future, just as it's been increased from $25,000 a few years ago.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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