| New $15,000 minimum for foreign worker medical insurance |
| Tuesday, 06 July 2010 15:41 | |||
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From 1 January 2010, the minimum coverage of the medical insurance that employers are required to buy and maintain The CPF Minimum Sum has been raised to $123,000 as of 1 July 2010. This is part of the Singapore Government's move to ensure that Singaporeans save up enough for their retirement. The new Minimum Sum applies to CPF members who turn 55 between 1 July 2010 and 30 June 2011. Members who can set aside the full Minimum Sum will receive about $1,100 per month when they reach their draw down age of 65.
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