CPF Raised SA, MA and RA Interest to 4.08% p.a. Basic Healthcare Sum Rises to $71,500.

Every year, this time of year, CPF will update us on the changes to the Basic Healthcare Sum or BHS for short.

The BHS is the maximum amount capped in our CPF Medisave to accumulate towards. Excess money above the BHS will flow to your CPF SA and to your CPF OA, if your CPF SA have reached Full Retirement Sum as well.

Announcement here.

Basic Healthcare Sum for 2024

The BHS for 2024 will be raised from $68,500 to $71,500 in 2024.

This raise is 4.3%, which is higher than the 3.8% from 2022 to 2023.

For those who wish to get some tax deduction and you have hit the max BHS of $68,500 this year, you have a small window at the turn of the year to top up about $3,000.

Interest Rate for Special, Medisave and Retirement Account Raised

Aside from that, the interest rate on Special, Medisave and Retirement Account will be raised to 4.08% p.a. from 1 Jan 2024 to 31 Mar 2024.

These rates will be updated every quarterly.

Aside from that, most of the stuff is quite standard.

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