CPF

Rules for buying homes using Central Provident Fund (CPF) money and HDB housing loans will be updated on Friday (May 10) – a move “in the right direction” that will give home buyers here more flexibility, some industry watchers said. The new rules could also sway demand for ageing homes, they added. READ MORE: New rules on buying properties using CPF, HDB housing loans Citing changing needs...

There will be changes to the CPF Minimum Sum, the Medisave Minimum Sum and the Medisave contribution ceiling from July 1. The CPF Board said the new CPF Minimum Sum will be S$106,000, up from S$99,600 currently. CPF Members who set aside this amount will get a monthly payout of S$910 from age 64 for about 20 years. The new Medisave Minimum Sum will be S$29,500, up from S$28,500. The Medisave...