Medisave for FAW CPW Pensioners
Name and Constituency of Member of Parliament
Mr Png Eng Huat
MP for Hougang
Question No. 776
To ask the Minister for Health (a) what is the current number and percentage of pensioners under the Fixed Amount on Ward (FAW) medical benefits scheme who have withdrawn their Medisave completely; (b) what is the current number and percentage of pensioners under Co-payment on Ward (CPW) medical benefits scheme who have not met 30% of their cohort’s applicable Basic Healthcare Sum (BHS); and (c) whether CPW pensioners can withdraw the excess amount above their required BHS from their Medisave accounts.
1 FAW pensioners are entitled to comprehensive medical benefits at government healthcare institutions, and are hence not required to set aside any Medisave. However, they may opt to set aside Medisave. 1,236, or 99.6% of FAW pensioners, have zero Medisave balances.
2 CPW pensioners need to set aside 30% of their cohort’s applicable Basic Healthcare Sum (BHS). In 2016, 8,200, or 50% of CPW pensioners have Medisave balances below 30% of their cohort’s applicable BHS.
3 For all CPF members, any Medisave monies above their respective BHS is automatically transferred to their other CPF accounts. FAW and CPW pensioners will be able to withdraw these monies if they had met their applicable Retirement Sum.
Source: Ministry of Health, Singapore