16-06-2007 11:43 PM | ||
Salary.sg |
Medisave Contribution Ceiling now $33,500 One year after the Medisave Contribution Ceiling (MCC) was adjusted to $33,000, CPF has announced that MCC will be adjusted upwards again, this time to $33,500 effective 1 July 2007. If your Medisave account balance already stands at $33k, which is the previous cap, you'll need to "top up" $500. This can be accomplished in just slightly over 2 months if you are under 35 and make more than $4,500 gross each month - your Medisave account gets 5% of $4,500 ($225) in the first 2 months, and $50 in the 3rd month (the remaining $175 will "overflow" into your Special Account). Quote:
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