Come JOIN OUR UPCOMING CPF SEMINAR! Specially planned if you are 50s and above with the NEW CPF CHANGES Pre-register below here! ► docs.google.com/forms/d/e/1FAIpQLSfCKGPqFUFXUi1_poS3DaOSvKodoW7WlBuIdntxVYsXvaLr6Q/viewform?usp=sf_link To see updates and polls, join my TELEGRAM "Josh Tan Investment Official Group" here ► joshtan.link/telegram
I think the educated question is why contribute to medisave (which are locked in as long term deposits with government, when we can do so with SA, i.e RSTU)... the rate of growth of BHS has been exceeding the annualized interest on MA... this makes MA a 无底洞 for government... Excess SA balances will be transferred to OA at age 55, and thereafter can be used for medical (like MA) or other spending... The only upside I can imagine is it continues to earn 4% per annum while OA earns 2.5%... however this becomes moot since its I can still withdraw from OA and top up my MA to BHS from age 55 onwards if I do not have confidence to earn >4% ROI on my own financial mgmt... so there is really no reason to checkmate myself with VCMA before age 55. just objective thoughts... objective responses welcome... all for rational thinking or discussion pls.
@@joshconsultancy thanks. But my point is whatever "interests income" does not become manipulatable funds like OA or SA balances, since there will perpetually be a gap to grow into BHS between current age UNTIL age 65.... so whats the point?
@@go2cdepends on how you think about this. If you pay for your private hospitalisation insurance using Medisave, the premium is already 2-3k per annum for one in their 50s and this is set to increase exponentially in the future (can reach 6k per annum if you want private healthcare in your 70s today. Probably 10k+ per annum in 10-20 years time at the rate medical expenses are increasing ). You can also use it to pay for your kids’ insurance if they have any. Adding to that is careshield life and careshield life supplement which is going to take another 1k+ away from your Medisave per annum. And when you are in your 60s and 70s, hospital bills and surgeries are inevitable and Medisave can be used to pay the copay component which can go up to thousands in private hospitals. At the end of the day, it depends on what sort of healthcare you are looking for when you are old (I definitely want private for as long as I can afford given the ridiculous waiting time at public hospitals) and if you have any dependents, the money in the MA account can be utilised really quickly when old age sets in.
Josh, I watched your video and topped up my Medisave by 4,000. It is so easy and I regret not doing it previously. There is a survey asking me whether someone had told me to do the top up and to input the email address so that CPF can thank him/her. I think of you!!! 😂😂😂😂
Dear Josh, good video! I do have a follow up question regarding children CPF. Should we top up and if should, how much will your recommend? Help them be 1m21?
Thanks for this informative video! can I confirm that if I top up my medisave to max now, as more cpf is contributed (through employment) this year, the excess over the 75500 flows to SA? when does it flow to OA?
Hi Josh, thanks for the content! For tax-relief purposes in the long run and the fact that CPF shielding days are over, will you recommend topping up CPF SA or MA first? Heard that performing RSTU gives a longer 'runway' for tax relief compared to VCMA. What do you recommend? Thank you!
@@joshconsultancy is it too late to top up now? I read from the cash relief PDF, it said "You will enjoy tax relief on your cash top-up the following year as long as your application with CPF is received by 31st December" And this tax relief is it one time or for all subsequent year? Thank you.
hi, Josh. Thanks for the informative video. Two quetions. 1) I had been topping up 8k into my SA every year to get tax rebate but once it reached FRS, What are the ways to get this 8K rebate for myself, one of the way will be topping up whatever increment in medisave before employer contribution to medisave, right? 2) can you clarify the part about point 3, let say once i top up 8k into SA for rebate early of the year, and once i notice there is an insurance deduction, i quicly top up before my employer did, will i get extra tax rebate that year as long as i did not hit tax relief cap of 80 k that year? thanks in advance
Hi Josh, does topping up 4K to my Medisave today contribute to tax relief for 2026? On a yearly basis, I contribute 8k to my SA and 8K to my parents. Does 4K add on to 16K for 2026 Tax relief?
Hi Ryan no. The tax relief limit of $8k is shared by SA and MA. If you contribute $4k to MA, your tax relief limit on Sa is $4k left. Topping up now is mainly for those who have maxed out their SA already. Hope it explains k =)
Hi Josh , very useful information shared. A question I have , hope you can answer ? Where do interest earned on OA, SA and RA and MA go to when FRS is achieved and MA is at the cap ?
@@ken2633 the employer cpf contribution will fill up your MA, reducing your chance to reduce your taxable income via top ups. I have already reached frs, so this is my only chance via cpf (other than srs)
Will hospitals charge extra more when a cpf member dies since there is medisave account and likely some left over? How to audit that there is no overcharging?
Hi Josh. Actually how does the top up cpf and get tax relief works? I pay about $350- $400 income tax annually.. If I top up say $2000 to my medisave account. How much income tax do i need to pay then?
2000 will be added to your relief. For your case the tax incentive may be quite little base on tax bracket. My best guess about $70 off the tax bill. See if you value it k 👌🏻🙂
Hi Josh . Q1 ) If I top up 4k now to my medisave and my cpf contribution towards the end of 2025 reaches CPF annual limit of $37740 , will CPF refund me the 4k without interest ( which I don’t want this to happen ) I read something like this in cpf website , Q2 ) Will I still able to claim tax relief if cpf refund me the 4k? Thanks
In my understanding, it won’t. MA top up is different. If your MA is dry ($0) You can even top up $75,500 to MA one shot to BHS. To double confirm always contact cpf 👌🏻🙂
Hello, sorry im new to this tax relief stuff, if I top up $8k to my own medisave, automatically will have $8k tax relief? Understand that for self, it doesn't matter if it has already passed 31 December?
I was struggling whether to Top-up Medisave to full and decided not to. There is limit cap each year on how much you allowed to spend, the chances of used up is very unlikely if you keep top it up to full unless you are really unfortunate... The fund there just need to be enough to pay for the annual Insurance which is the most important piece, that said you still need a quite big sum as insurance cost boosting up every year in a very fast pace.
Josh , I could not find top up to MA from cash top up and CPF transfer for retirement tab. , only for RA . is it because i m above 55? appreciate your help to guide me.
@@weehong1968Medisave is separate from RA. Tax relief limit is $8k per year. The idea of $4k now is for people especially who are already at last yr BHS and looking for tax relief. Hope it clarifies
Hi Josh, Thanks for the video and Happy New year. I have a question which I hope you can shed some light. What are the CPF interest rates for the Ordinary Account (OA), MediSave Account (MA), and Retirement Account (RA) for someone aged 55 and above? Additionally, can you calculate the interest earned based on the following balances: OA = $100,000, MA = $70,000, and RA = $200,000?" I am not clear which account is given the priority to have the extra interest for the first $60K. Thank you.
@@joshconsultancy Thank you for your reply but I don't think your information is correct. @lsfoo is asking the same question as well but phrased it in a better way. Based on my understanding, the extra interest will go to RA first, then MA and OA in order of priority. In the scenario I have given earlier, since there are more than 60K already in RA, the extra interest will all go there. However, I am not sure what OA (capped at 20K) mean. If OA (capped at 20K) is able to earn extra interest (3.5% instead of 2.5%), would it be good to leave 20K in OA and draw out the rest and put into other investment forms that has better interest than 2.5%?
actually medisave can be used to pay medical fees of certain chronic diseases or for medical imaging subjecting to annual limits. It can also be used to pay for certain vaccines for certain groups of people like those with asthma.
Depends on the percentage. The recent increase is 5.5%. An increase to 5k means that BHS of the previous year is roughly around 91k (assuming it stays at 5.5%).
what a joke .... so much increases just to be locked up ... imagine having 100k+ in medisave and not being able to use any for basic dental maintenance or TCM or any preventive sort of healthcare ?
@Nerosink2000 Medisave is otherwise known as the inheritance account. Account holders often find it difficult to access their own Medisave funds for medical treatment due to the tight controls, this ensures that they have spare Medisave funds for future treatment and Govt need not step in to help
Buy enough hospitalisation insurance. Stop feeding the CPF account and allow the govt to take a long free ride into your old age. Stop being lazy and be thrifty, learn investing instead allowing govt to deceiving one with their peanuts payout from CPF. I believe one can do better than CPF through the decades before touching your own money
You should watch the video before commenting. He uses the Medisave top up as a tool to reduce your income tax. At the same time it earns 4% interest rate per annum, which is transferred to your OA or SA. Josh specifically mentions Medisave is meant as emergency health care fund, you should still have you own private insurance. Stop feeding the idea that the govt is trying to take your money, it’s self defeating.
Come JOIN OUR UPCOMING CPF SEMINAR! Specially planned if you are 50s and above with the NEW CPF CHANGES
Pre-register below here!
► docs.google.com/forms/d/e/1FAIpQLSfCKGPqFUFXUi1_poS3DaOSvKodoW7WlBuIdntxVYsXvaLr6Q/viewform?usp=sf_link
To see updates and polls, join my TELEGRAM "Josh Tan Investment Official Group" here
► joshtan.link/telegram
Yup, topping up my MA to BHS is a yearly ritual. Going to do it by the end of Jan.💪
Happy New Year ! Wishing you and family a good year in 2025. Yes, first thing i did was to top up 4K at 8am.
Wa kiasu lol, Happy new year too!!!
We should top up on month end?
Happy New Year, Josh and family! Hope you have a healthy and wealthy 2025. Thanks for the info.
Thank you Sharon, happy new year too!!
Already top up my RA and MA yesterday. Will top up my wife's RA and MA today.
Nice!!
I think the educated question is why contribute to medisave (which are locked in as long term deposits with government, when we can do so with SA, i.e RSTU)... the rate of growth of BHS has been exceeding the annualized interest on MA... this makes MA a 无底洞 for government...
Excess SA balances will be transferred to OA at age 55, and thereafter can be used for medical (like MA) or other spending... The only upside I can imagine is it continues to earn 4% per annum while OA earns 2.5%... however this becomes moot since its I can still withdraw from OA and top up my MA to BHS from age 55 onwards if I do not have confidence to earn >4% ROI on my own financial mgmt... so there is really no reason to checkmate myself with VCMA before age 55.
just objective thoughts... objective responses welcome... all for rational thinking or discussion pls.
Raised up point that BHS freezes once u reach 65. Not 无底洞
@@joshconsultancy thanks. But my point is whatever "interests income" does not become manipulatable funds like OA or SA balances, since there will perpetually be a gap to grow into BHS between current age UNTIL age 65.... so whats the point?
@@go2cdepends on how you think about this. If you pay for your private hospitalisation insurance using Medisave, the premium is already 2-3k per annum for one in their 50s and this is set to increase exponentially in the future (can reach 6k per annum if you want private healthcare in your 70s today. Probably 10k+ per annum in 10-20 years time at the rate medical expenses are increasing ). You can also use it to pay for your kids’ insurance if they have any. Adding to that is careshield life and careshield life supplement which is going to take another 1k+ away from your Medisave per annum. And when you are in your 60s and 70s, hospital bills and surgeries are inevitable and Medisave can be used to pay the copay component which can go up to thousands in private hospitals. At the end of the day, it depends on what sort of healthcare you are looking for when you are old (I definitely want private for as long as I can afford given the ridiculous waiting time at public hospitals) and if you have any dependents, the money in the MA account can be utilised really quickly when old age sets in.
Happy New Year to Josh and family! Thank you for the New Year gift information 🎉🎆🎇🎊
No probs yengkoon, wishing you happy new year too 🙂
Happy New Year Josh! Very informative video. Really learnt a lot from your videos all these time! Just wanna say, thank you.
No probs =)
Happy to hear that. Help me share with someone who can benefit too k
Happy New Year to you Josh
Happy new year winston! =)
Josh, I watched your video and topped up my Medisave by 4,000. It is so easy and I regret not doing it previously. There is a survey asking me whether someone had told me to do the top up and to input the email address so that CPF can thank him/her. I think of you!!! 😂😂😂😂
so medisave top up got tax relief? cuz the retirement dashboard only shows tax relief amount for SA not for MA.
Oh yes I seen cpf having that survey 🙂
Yes got
@@joshconsultancy You don't get tax relief if your SA/RA and MA have reached the ceiling in your cohort, am I right ?
Love this .. thank you for sharing.. Blessed 2025 Josh..
No probs! Blessed 2025 too!
HNY to you Josh & your family.
HNY to you too 🙂
MA is great if one is using those 4% interest to pay for medical insurances, ofc, nice to get some tax rebates too.
Dear Josh, good video! I do have a follow up question regarding children CPF. Should we top up and if should, how much will your recommend? Help them be 1m21?
Thank you for your reply in advance!
Im not in favour of topping up for children oops =)
Would rather build investment pots for them
Thanks for this informative video! can I confirm that if I top up my medisave to max now, as more cpf is contributed (through employment) this year, the excess over the 75500 flows to SA? when does it flow to OA?
When SA is also full, then it flows next to MA
Hi Josh, thanks for the content! For tax-relief purposes in the long run and the fact that CPF shielding days are over, will you recommend topping up CPF SA or MA first? Heard that performing RSTU gives a longer 'runway' for tax relief compared to VCMA. What do you recommend? Thank you!
I would vote for MA coz medical needs may happen anytime 👌🏻🙂
sorry noob question, so we just need to top up $8,000 to CPF Medisave to get $8,000 tax relief?
Yes absolutely
@@joshconsultancy is it too late to top up now? I read from the cash relief PDF, it said "You will enjoy tax relief on your cash top-up the following year as long as
your application with CPF is received by 31st December"
And this tax relief is it one time or for all subsequent year?
Thank you.
hi, Josh. Thanks for the informative video. Two quetions. 1) I had been topping up 8k into my SA every year to get tax rebate but once it reached FRS, What are the ways to get this 8K rebate for myself, one of the way will be topping up whatever increment in medisave before employer contribution to medisave, right? 2) can you clarify the part about point 3, let say once i top up 8k into SA for rebate early of the year, and once i notice there is an insurance deduction, i quicly top up before my employer did, will i get extra tax rebate that year as long as i did not hit tax relief cap of 80 k that year? thanks in advance
Hi no probs happy to share
1) ya if sa full, only source becomes MA top up
2) note: the tax relief cap of $8k cash top up is shared between SA and MA
Hi Josh, does topping up 4K to my Medisave today contribute to tax relief for 2026? On a yearly basis, I contribute 8k to my SA and 8K to my parents. Does 4K add on to 16K for 2026 Tax relief?
Hi Ryan no. The tax relief limit of $8k is shared by SA and MA. If you contribute $4k to MA, your tax relief limit on Sa is $4k left.
Topping up now is mainly for those who have maxed out their SA already.
Hope it explains k =)
Hi Josh, l just turned 62, do you think l need to top up my medisave? Thank you.
Hi, Medisave is a good piggy bank for medical needs. If got spare savings, I would encourage 👌🏻🙂
@joshconsultancy Thank you, Josh ❤️
Why do we top up? Every month we are still contributing. I have reached the max actually.
For tax relief
@@joshconsultancyhow much tax relief will I get if I top up my MA? Sorry I’m a noob in this.
Dollar for dollar relief, up to 8k.
Hi Josh , very useful information shared. A question I have , hope you can answer ? Where do interest earned on OA, SA and RA and MA go to when FRS is achieved and MA is at the cap ?
Goes to OA
Done! Just topped up MA for household. Always do it on 1 Jan before first paycheck is in.
yes!!! =)
Why top up before 1st paycheck? Please share. Thanks.
@@ken2633 the employer cpf contribution will fill up your MA, reducing your chance to reduce your taxable income via top ups. I have already reached frs, so this is my only chance via cpf (other than srs)
@jironghuang4895 ah I see. Thank you 🙏
does it mean top up medisave cash 8k and if employer contribute cpf...the excess will flow to ordinary account?
flow to SA first and if full then to OA
Very useful information
share with someone who should see too =)
If my spouse already have ERS for RA, am I eligible for tax relief if I top up her Medisave Account in Cash?
It’s a different criteria.
If she no income, yes can get tax relief if you top up her MA
@@joshconsultancy Thanks. For myself, I have ERS and income > 100k, can still get tax relief for MA top up?
@@joshconsultancy better check with CPF . last i check with CPF , if cross to ERS , top up to MA will not get tax relief .
Hi JL, but I’m jobless by choice, no income tax then how?
Then only top up if you like medisave as a piggybank
@ I think I’ll just not top up and let compounding work on its own…
Must the Medisave top-up be done before 31 Dec 2024, to qualify for tax relief in 2025?
yes unfortunately
My CPFSA will be transferred to OA this month. Since I've not reach BHS, I could transfer some from my OA to Medisave for the 4%
cannot transfer from OA to MA
@joshconsultancy Can, since I'm already above 55 and I've exceeded FRS in my RA.
@@maleman67 yes. that also mean can draw the money out from OA for SRS right?
I have no tax rebate to benefit as I have reached FRS. Still worth it to top up or just wait monthly from pay?
Frs limit impacts RA and SA account
ma top up still has tax relief separately 👌🏻
If i top up SRS $15300 and medisave $4000, do i get a combine tax relief of $19300 for the year?
To add on to the above question, are there any restriction to the tax relief that i'll be receiving from the top up if i earn more than 100k a year?
Yes. Both schemes will apply
Will hospitals charge extra more when a cpf member dies since there is medisave account and likely some left over? How to audit that there is no overcharging?
This part in gov hospitals at least, is trust their audit. Not sure private
Hi Josh. Actually how does the top up cpf and get tax relief works?
I pay about $350- $400 income tax annually.. If I top up say $2000 to my medisave account. How much income tax do i need to pay then?
2000 will be added to your relief.
For your case the tax incentive may be quite little base on tax bracket. My best guess about $70 off the tax bill.
See if you value it k 👌🏻🙂
@joshconsultancy thanks Josh
Can I still top up my MA to new BHS amount if my SA is at FRS?
Yes can Its a separate limit.
quick question Josh, for medisave that has reached BHS what happens to the interest earned? does it flow into OA/SA?
Interest flow to SA. If FRS is reached in Sa, it will flow to OA which means the interest can be used to pay for home mortgages or withdrawn at 55
Hi Josh .
Q1 ) If I top up 4k now to my medisave and my cpf contribution towards the end of 2025 reaches CPF annual limit of $37740 , will CPF refund me the 4k without interest ( which I don’t want this to happen )
I read something like this in cpf website ,
Q2 ) Will I still able to claim tax relief if cpf refund me the 4k?
Thanks
In my understanding, it won’t. MA top up is different. If your MA is dry ($0) You can even top up $75,500 to MA one shot to BHS.
To double confirm always contact cpf 👌🏻🙂
Thank you , Josh 😀
Thanks for this video. Happy 2025 to you Josh!
No probs, happy new year too ck!
Hello, sorry im new to this tax relief stuff, if I top up $8k to my own medisave, automatically will have $8k tax relief? Understand that for self, it doesn't matter if it has already passed 31 December?
Yes tax relief limit of $8k
Contribution in 2025 the benefit will be seen when the assessment comes in march2026 👌🏻
@@joshconsultancy Thanks for replying! If I were to contribute to top up now for tax relief, will it reflect in the income tax YA 2024, or YA 2025?
Will be reflected in YA2026@@FeneX3
I was struggling whether to Top-up Medisave to full and decided not to. There is limit cap each year on how much you allowed to spend, the chances of used up is very unlikely if you keep top it up to full unless you are really unfortunate... The fund there just need to be enough to pay for the annual Insurance which is the most important piece, that said you still need a quite big sum as insurance cost boosting up every year in a very fast pace.
Almost everyone has medical needs/costs in old age. See as a trusty medical piggy bank k
Why I cannot top up medisave to $75,500? The app shows allowable amount to top up as Zero?
Maybe you're above age65?
@ no, I am 52 yrs old now
Is there a difference now if I top up Ma or SA first? Which do you suggest?
SA and MA share the same $8k tax relief limit.
If choosing between one, choose MA. At least can use for some insurance premiums :)
@@joshconsultancyThank you :)
Can we set notification when medisave gets deducted?
Don’t think so
@joshconsultancy like that v hard to track hahaha
Hi Josh, hny! Is pumping money into medisave one way or can I withdraw cash from it?
One way unfortunately =P
See it a trusty piggy bank for medical needs one day
If I top up my MA then my tax relief auto deduct or I need to submit other forms?
Auto 👌🏻😉
if our max contribution is expected to be hit, ie 37740, would VCMA help?
Yes, separate tax relief limit of $8k
I was wondering how come BHS suddenly feels so difficult for me to reach. It is becos they increased it ( more than usual) by 4k !! Sigh.
Raises every yr until your age65.
No choice, medical inflation k =)
Done. Tks!
No probs! Great start to the year 🙂
Josh , I could not find top up to MA from cash top up and CPF transfer for retirement tab. , only for RA . is it because i m above 55? appreciate your help to guide me.
Josh .. i found it
8K for tax relief , should I max for MA 4K or use it to max my RA ? any preferance.?
@@weehong1968Medisave is separate from RA.
Tax relief limit is $8k per year.
The idea of $4k now is for people especially who are already at last yr BHS and looking for tax relief. Hope it clarifies
I tried to log in but look like system is down for top up
WOW!!
How do you top up to Medisave?
Log in CPF - Forms and e-application - Cash top up for retirement - Pay with Paynow
hope it answers k
Thanks for the advice ❤
Happy New Year! May 2025 be a healthy and prosperous year for everyone! 🎆🥂🍾🎇
Happy new year! 😃
Hi Josh, Thanks for the video and Happy New year. I have a question which I hope you can shed some light. What are the CPF interest rates for the Ordinary Account (OA), MediSave Account (MA), and Retirement Account (RA) for someone aged 55 and above? Additionally, can you calculate the interest earned based on the following balances: OA = $100,000, MA = $70,000, and RA = $200,000?" I am not clear which account is given the priority to have the extra interest for the first $60K. Thank you.
Hi 2.5%oa rest 4%
Extra interest 60k can be any mix from
Whichever account (oa capped at 20k) 👌🏻🙂
Where do interest earned on OA, SA and RA and MA go to when FRS is achieved and MA is at the cap ?
@@joshconsultancy Thank you for your reply but I don't think your information is correct. @lsfoo is asking the same question as well but phrased it in a better way. Based on my understanding, the extra interest will go to RA first, then MA and OA in order of priority. In the scenario I have given earlier, since there are more than 60K already in RA, the extra interest will all go there. However, I am not sure what OA (capped at 20K) mean. If OA (capped at 20K) is able to earn extra interest (3.5% instead of 2.5%), would it be good to leave 20K in OA and draw out the rest and put into other investment forms that has better interest than 2.5%?
actually medisave can be used to pay medical fees of certain chronic diseases or for medical imaging subjecting to annual limits. It can also be used to pay for certain vaccines for certain groups of people like those with asthma.
Yes absolutely!
Adding on to point 6 Medisave can be used to offset medical checkup and cost for chronic illnesses such as hypertension if you go Govt clinic 😊😊
Good point =)
Top up Liao
In my opinion, the increase of basic health care sum will become bigger and bigger,
It will stay at $4k for a few years and then will increase to $5k.
Depends on the percentage. The recent increase is 5.5%. An increase to 5k means that BHS of the previous year is roughly around 91k (assuming it stays at 5.5%).
what a joke .... so much increases just to be locked up ... imagine having 100k+ in medisave and not being able to use any for basic dental maintenance or TCM or any preventive sort of healthcare ?
@Nerosink2000 Medisave is otherwise known as the inheritance account. Account holders often find it difficult to access their own Medisave funds for medical treatment due to the tight controls, this ensures that they have spare Medisave funds for future treatment and Govt need not step in to help
Myth is from anti PAP camp.
Buy enough hospitalisation insurance. Stop feeding the CPF account and allow the govt to take a long free ride into your old age. Stop being lazy and be thrifty, learn investing instead allowing govt to deceiving one with their peanuts payout from CPF. I believe one can do better than CPF through the decades before touching your own money
You should watch the video before commenting. He uses the Medisave top up as a tool to reduce your income tax. At the same time it earns 4% interest rate per annum, which is transferred to your OA or SA. Josh specifically mentions Medisave is meant as emergency health care fund, you should still have you own private insurance. Stop feeding the idea that the govt is trying to take your money, it’s self defeating.
pov noted.... I view CPF MA as a trusty piggy bank
Have you been doing better than 4% on a consistent basis?
well said !
U give me money to top up then i will top up
Subscribed. Pls share your Telegram group
To see updates and polls, join my TELEGRAM "Josh Tan Investment Official Group" here
► joshtan.link/telegram