Medisave Meant To Meet Medical Needs

Source : The Straits Times, Forum, Sep 14, 2007

I REFER to the letter, 'Allow Medisave payment for DPS annual premium' (ST, Sept8), by Mr David Soh, suggesting that CPF members be allowed to use their Medisave savings to pay annual premiums for the Dependants' Protection Scheme (DPS).

Currently, Central Provident Fund (CPF) members can use savings in their Ordinary Account to pay premiums for the DPS, a term life insurance scheme. Members should not consume their

Medisave savings for this purpose as Medisave is primarily meant to cater to their medical needs, including MediShield and ElderShield.

As Singaporeans live longer and the need for medical expenses is expected to rise as they grow older, it is important that CPF members preserve their Medisave savings to meet this need.

Chang Long Kiat
Director (Housing and Health-care)
CPF Board