Category: News
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Significant changes to the Central Provident Fund (CPF) system will take effect in January 2025, notably the closure of the Special Account for members aged 55 and above. Contributions will increase for members aged 55 to 65, along with an increased wage ceiling. Staying informed is crucial for effective financial planning.
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The Ministry of Health announced a 22% increase in MediShield Life premiums from April 2025 to March 2028. Despite concerns over affordability, the government has allocated $4 billion for subsidies and support. This includes increased MediSave top-ups and bonuses, aiming to mitigate the financial impact on citizens while enhancing coverage.
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Charles Advisory 