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Medisave Contribution to Increase
Health Minister Khaw Boon Wan gave a hint of what is to come when he mentioned that more needs to be done to better serve Singapore’s aging population.
This includes:
- increasing the Medisave contribution rate from the current 6-9.5%
- enhancing payouts for Eldershield to $800/month from the current $400/month (this will also mean increasing the premiums)
- providing more funding for the Medifund-silver scheme
- introducing the 3E framework over the next 15-20 years – Elderfund, Eldersave and Eldershield
With the wide array of schemes available, it is a challenge for anyone to know all the schemes, not to mention keeping track of all the changes.
For starters, just do a permutation on the following terms:
- medi, elder
- save, shield, fund
The government should seriously consider setting up a giant information database wikipedia style. Frills and graphics might be good but when it comes to the crunch, what most people really want is to be able to find the information we need in the shortest possible time.
One example is the current CPF website which is simply hard to navigate. Is it only me or do you also feel the same way?
Read the entire interview with Khaw Boon Wan here: