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18 Sep 2007
Question No: 387
Question
Name of the Person: Mdm Halimah Yacob, MP for Jurong GRC
To ask the Minister for Health (a) if he will provide a breakdown of the Medisave balances of CPF members by age and income level; (b) how many CPF members have accumulated the Medisave minimum sum; and (c) how many CPF members have no Medisave savings at all.
Reply
Reply From MOH
The breakdown of the Medisave balances of CPF members by age and income level is tabulated on MOH’s website. I will ask the Clerk of Parliament to circulate the statistical table to Members, as it will be difficult to provide such detailed information orally.
Table: Average Medisave Balances of CPF Members (as at Dec 2006)
Table caption
Age group (years) | Monthly Salary ($) | |||||
|---|---|---|---|---|---|---|
1,500 & below | 1,501-2,000 | 2,001-3,000 | 3,001-4,000 | 4,001-4,500 | Above 4,500 | |
0 - 20 | 200 | 1,000 | 1,200 | 1,200 | 2,900 | 1,400 |
21 - 30 | 2,500 | 4,400 | 6,100 | 8,200 | 9,600 | 11,400 |
31 - 40 | 9,300 | 13,900 | 17,900 | 21,500 | 24,000 | 27,400 |
41 - 50 | 13,800 | 22,700 | 27,800 | 30,600 | 31,800 | 32,600 |
51 - 60 | 15,800 | 25,900 | 29,700 | 31,200 | 32,100 | 32,600 |
61 - 65 | 14,800 | 24,700 | 27,600 | 28,500 | 30,000 | 30,600 |
Above 65 | 13,000 | 24,200 | 25,900 | 28,500 | 29,900 | 29,900 |
Overall | 10,200 | 15,200 | 19,100 | 22,800 | 26,200 | 27,500 |
As expected, the average Medisave balance would increase with income level. Likewise, it would also increase with the age of the members, but up to 60.
Generally, members above the age of 40 and earning more than $2,000 per month would have an average balance exceeding $20,000. This will generally be sufficient to cover 16 episodes of hospitalization in a Class B2 ward. Members above the age of 40 and earning above $3,000 per month would have an average Medisave balance of at least the Medisave Minimum Sum of $28,000.
Among the 2.7 million CPF members, 606,000 or 22% of CPF members have Medisave balances exceeding the Medisave Minimum Sum. On the other hand, 15,800 or 0.6% have no Medisave savings at all.