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NOTICE PAPER NO. 1727
NOTICE OF QUESTION FOR ORAL ANSWER
FOR THE SITTING OF PARLIAMENT ON 27 FEBRUARY 2023
Name and Constituency of Member of Parliament
Mr Patrick Tay Teck Guan
MP for Pioneer
Question No. 4243
To ask the Minister for Manpower in each of the past five years, what is the number of CPF account holders who at the point of death have monies left in their CPF MediSave accounts to the sum of (i) less than $1,000 (ii) between $1,000 and $10,000 (iii) between $10,000 and $20,000 (iv) between $20,000 and $30,000 (v) between $30,000 and $40,000 (vi) between $40,000 and $50,000 and (vii) between $50,000 and the MediSave account limit.
Answer
1 MediSave helps Singaporeans set aside part of their income over their working years to save up for healthcare expenses in their old age. It is therefore more instructive to look at MediSave balances at the point of death for Singaporeans who lived till an advanced age.
2 For Singaporeans who passed away aged 85 or older between 2017 and 2021, about two in 10 had a $1,000 or less, five in 10 had between a $1,000 and $10,000, about one in 10 had between $10,000 and $20,000, $20,000 and $30,000, and more than $30,000 left in their MediSave accounts at the point of death respectively.