Do online contribution to Medisave and get $88 Ang Bao.

"For those under 65, the Basic Healthcare Sum next year will be S$54,500, up from S$52,000 previously, the authorities said."
Source:
CNA, 16 November 2017





The Basic Healthcare Sum (BHS) which was known as the Medisave Contribution Ceiling (MCC) in the past has been raised from $49,800 to $52,000 in 2017. 

This means that we can voluntarily contribute $2,200 now. 

Of course, for those who are gainfully employed, this contribution will enjoy income tax relief.

For people like me whose CPF-SA has already hit or exceeded the prevailing Minimum Sum or Full Retirement Sum, this is about the only avenue we have to pump more money into our CPF to earn a 4% interest. 




Of course, for those of us whose mandatory contributions (MC or contributions from earned income) are lower than the CPF Annual Limit ($37,740), we can also do regular voluntary contributions for the difference, maxing out the CPF Annual Limit. 

The CPFB will apportion the contribution to our OA, SA and MA. 

How much goes into each account will depend on our age group.

I am so glad to be promoted to the next age bracket which means more of my regular voluntary contributions will go to my CPF-SA which is paid a higher interest. 

One of the reasons for me to be happy with ageing.





We can do a contribution to our CPF-MA online.

Here is how to do it:

Go to CPF e-Cashier homepage.

Enter details and choice.

Check allowable contribution

$2,200 this time of year.

Contribute online using eNETS

It is done!

I contributed only $2,000 because that is the daily limit for me.

How much interest will $2,200 earn in a year? 




At 4%, that is $88.

Some people might say $88 is not a lot of money. 

What will AK say? 

It is still money and good money from the government too.




How do we build wealth through saving money? 

Slowly and steadily, every dollar adds up.

From my FB wall.

Don't underestimate the power of saving a few dollars a day, every day. Don't underestimate the power of compound interest.

What? Don't have $2,200 to contribute to your CPF-MA? 

Oh, you need the money buy your daily cup of Starbucks coffee? 

OK lor. You are free to choose.




I choose to have free medical insurance. 

It is such a no brainer.

I forgot to mention that 88 is such an auspicious number too. 

Huat, huat ah!




Related post:
How to get free medical insurance?

Mr. Lee Kuan Yew said China could become pushy.

"I don't want to sound apocalyptic but I don't see Taiwan as being able to resist the pull of the mainland. There will come a time when the 7th fleet cannot intervene." Mr. Lee Kuan Yew.

A long time ago in ancient China, there was a big village that sat on both banks of a river. One day, there was a big fight in the village and villagers living on the left bank said they wanted to have nothing to do with the villagers on the right bank. 

The village chief who was living on the right bank rejected this and called the newly appointed village chief on the left bank a traitor.

Then, there was a small village farther inland on the right bank that was friendly with the big village. Although the big village was broken into two and continued to quarrel, it had nothing to do with the small village. 

A case of domestic conflict, chief of the small village thought.

The small village was quite good at doing certain things and designing war chariots was one of them. Being small, the village didn't have room to test them and would send them to the left bank of the big village for testing. The chariots had to pass through the right bank of the big village to do so and for years that went on without incident.

Then, one day, the quarrel in the big village escalated. On that fateful day, the chariots being tested on the left bank were on their way back to the small village. 

It didn't matter that the late chief of the small village helped them before, the right bank which sought to isolate the left bank took hold of the chariots. The small village which needed the big village in more ways than one was helpless.

The small village then understood the saying:

穷不与富斗，富不与官斗。

In ancient China, the rich would pay money just to get a position in government. Being rich was good but being rich and powerful was better.

Got power, can be pushy. 

Got power, can be assertive.

Of course, it was not the first time our country's first Prime Minister, the late Mr. Lee Kuan Yew, got it right.

Related post:
Mr Lee Kuan Yew on the Eurozone crisis.

“As the case is still under investigation, no further information is available. The suspected controlled items are still kept at a customs storage place in Tuen Mun. They have been stored indoors since December 6,” a spokesman said.

At a daily press briefing, Chinese foreign ministry spokesman Geng Shuang would only say that the Hong Kong government is handling the incident in accordance with relevant laws.

Beijing has always known about the arrangements between Taiwan and Singapore and remained silent on the issue until now, seizure of the armoured vehicles provides it with an excellent opportunity. Whether this occasion is orchestrated or opportunistic is of secondary importance. The affair gives China floor to push back against the undesirable activity, drive a wedge between Singapore and Taiwan and give a lesson to Singapore for recent statements on the South China Sea and China’s role in the dispute.