Is there a maximum amount that I can save in my MediSave Account?
You can save up to the prevailing Basic Healthcare Sum (BHS) in your MediSave Account if you have not turned age 65. The BHS from 1 January 2024 is $71,500 for all CPF members aged 65 years old and below in 2024. The BHS applicable to you will be adjusted yearly to account for increasing life expectancy and healthcare costs until the year you turn age 65. For instance, if you are aged 65 in 2024, the BHS that is applicable to you will be $71,500 for the rest of your life. The following table summarises the BHS for respective cohorts aged 65 and above in 2024:
Age in 2024
|
Year when cohort turned age 65
|
Cohort BHS
(fixed for life)
|
| 65 |
2024 |
$71,500 |
66
|
2023
|
$68,500
|
67
|
2022
|
$66,000
|
68
|
2021
|
$63,000
|
69
|
2020
|
$60,000
|
70
|
2019
|
$57,200
|
71
|
2018
|
$54,500
|
| 72 |
2017 |
$52,000 |
73 and above
|
2016 or earlier
|
$49,800
|
