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     FrontPage Edition: Fri 27 May 2005

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70,000 Singaporeans yet to qualify for CPF Top-ups


2.2 million Singaporeans have qualified for the CPF top-ups of between $50 and $450 to be made on 1 July 2005.
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.
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.
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
The form to claim the CPF top-ups can also be downloaded from the CPF website.The public can call 1800-687-0-787 (1800-MTS-0-RTS) for assistance.
24 May 2005

Source: Ministry of Finance Press Release 24 May 2005

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