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My vision is to create a cohesive group for my family of financial planners to better serve our clients. You may wish to read more in our page “Why our Blog”

Coming from a person who is suffering from a mild genetic disorder, I have experienced the importance of how insurance has dramatically shaped my life. My mission is to share with you readers the importance of Retirement Planning, Risk management and Wealth Management before we ever live to regret our lack of planning.

No one wants to outlive their money. No one plans to fail. Let us not fail to plan. Should you have any query, please do not hesitate to drop me an email - asoongch@gmail.com, Mobile - 96667946. As a family of agents, we are committed to providing you the best value - Alvin Soong

Updates on CPF Schemes

June 15th, 2009 by ALVIN SOONG

Some updates on the upcoming changes to Medisave and CPF Minimum Sum wef 1st July 2009:

CPF Minimum Sum
The CPF Minimum sum will be raised from $106k to $117k from 1st July 2009.

Medisave Minimum Sum
1) The Medisave Minimum sum (MMS) will be increased to $32k from $29.5k from 1st July 2009 in view of higher hospitalisation bills. Members can withdraw Medisave savings in excess of the MMS at age 55.
2) The maximum amount possible in Medisave will be increased to $37k. Any surplus will go into the SA if you are below age 55 or to your Retirement Account if you are above age 55 and have a Minimum Sum shortfall. Download the info. by right click below:

cpf_rate_and_minimum_sum.pdf

Special thanks to Adrian, KuanPIAS, and CPF sources

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