CPF contribution

[yowetan]

I have realized the CPF server has computed wrongly in the CPF allocation ratio. Please do check yours to check if the PMI is wrongly deducted and the allocation is being misallocated. Good luck.

[phantom_opera]

what is PMI?

[CondoWE]

what is PMI?

PRIVATE MEDICAL INSURANCE?

[yowetan]

what is PMI?

PMI is shield plan premium or term private shield premium charge. Interestingly, I do not have any yet it was charged to my account.

[richwang]

your dependents' insurance could be charge to your account as well.
... or you have signed something from the beautiful insurance agent without knowing?

[yowetan]

your dependents' insurance could be charge to your account as well.
... or you have signed something from the beautiful insurance agent without knowing?

Hi...not only that. The ratio and allocation amount to Ordinary, Special and Medical account is terribly wrong. Did a pdf download and will raise the case to CPF board.

[bsslang]

Is it due to the cap on $5K of income for CPF contribution? You may see more take home $ in your pay slip.

[florence]

You were right! I have no idea what the below deduction was for after i login to check...anybody knows? It was deducted from medisave on 24 Mar.

I have PMI but that was deducted in Feb 2013 already. Now, really clueless about the below.

24 MAR 13 PMI -46.75

[florence]

Ok, I found out the deduction was for "additional premium payable" for Medishield/IP. Prior to that, $50 was topup by Govt into Medisave...

[Kanarazu]

Ok, I found out the deduction was for "additional premium payable" for Medishield/IP. Prior to that, $50 was topup by Govt into Medisave...

There was a recent change in medishield coverage in the news. So premium went north.

[yowetan]

Hi...thanks for confirming the additional ambiguous PMI deduction (this is in-line with your current shield plan premium date and will be deduct pro-rated accordingly.)

Also, apart from that I am also experiencing unexplained rate allocation to my special and medisave account respectively; 0.1999 and 0.2222 ratio but not complied. No letter or information given from CPF board and I am wonder if I am the only affected person.

[myfirstpc]

Hi...thanks for confirming the additional ambiguous PMI deduction (this is in-line with your current shield plan premium date and will be deduct pro-rated accordingly.)

Also, apart from that I am also experiencing unexplained rate allocation to my special and medisave account respectively; 0.1999 and 0.2222 ratio but not complied. No letter or information given from CPF board and I am wonder if I am the only affected person.

http://mycpf.cpf.gov.sg/Members/Gen-Info/Con-Rates/ContriRa.htm

Take a look at this. Depending on your age, the OA reduces, and the SA and MA increases. OA also reduced from Employer and Employee contributions with age.

[yowetan]

http://mycpf.cpf.gov.sg/Members/Gen-Info/Con-Rates/ContriRa.htm

Take a look at this. Depending on your age, the OA reduces, and the SA and MA increases. OA also reduced from Employer and Employee contributions with age.

Hi...Thanks for the link. Apparently mine (affected one) allocation does not tally with the sipulated ratio shown in the chart.

[Jaykj]

Hi...Thanks for the link. Apparently mine (affected one) allocation does not tally with the sipulated ratio shown in the chart.

Have you reached the max of $43,500 in your MA? Once the max is reached, it's transferred automatically to SA.

[yowetan]

Have you reached the max of $43,500 in your MA? Once the max is reached, it's transferred automatically to SA.

Hi...Thanks for the tips. Is that the case??? This is new to me! Could you elaborate further to me why this policy when our medical care and bills are so expensive now?

[yowetan]

Q:Is there a ceiling on the Medisave balance? [ Meeting Your Healthcare Needs (http://ask-us.cpf.gov.sg/efa/index.htm?isBrowsingTree=1&initCollectionID=381844984100003624) > Medisave (http://ask-us.cpf.gov.sg/efa/index.htm?isBrowsingTree=1&initCollectionID=381844984100003763) > Medisave Contributions (http://ask-us.cpf.gov.sg/efa/index.htm?isBrowsingTree=1&initCollectionID=381844984100003894) ]
A:
Yes, the prevailing Medisave Contribution Ceiling (MCC) is $43,500. The Medisave Contribution Ceiling keeps up with inflation so that Singaporeans will have sufficient savings to meet their healthcare expenses.
Any Medisave contribution in excess of the MCC will be transferred to the Special Account for members below 55 years old.
For members 55 years old and above and whom do not meet the CPF Minimum Sum, the excess Medisave will be transferred to their Retirement Account. For those who have set aside the full CPF Minimum Sum, the excess Medisave will be transferred to the Ordinary Account.












Government pensioners under the Fixed Amount on Ward Charges Scheme (FAW) do not need to have Medisave whereas pensioners under the Co-payment on Ward Charges scheme (CPW) need to contribute to Medisave for up to 30% of the prevailing MCC.

[Regulators]

I never understood why under the reliefs in the income tax, they lump cpf contributions and insurance together n cap it at $5000. forced contribution into medisaves means your money just sittibg in the account doing nothing n cannot be used to pay private insurance premiums of life policies

[solsys]

i think the deduction is dependent protection scheme, DPS.