The Basic Healthcare Sum (BHS) is the estimated savings required for basic subsidised healthcare needs in old age. The BHS is adjusted yearly for members below age 65 to keep pace with the growth in MediSave withdrawals.  Once members reach age 65, their BHS will be fixed for the rest of their lives.

Read : Official CPF Article For 2019 BHS Here

For 2019, the amount has increased by 4.95% from $54,500 to $57,200. So my projection of $57,000 was off by $200, but not to worry, everything is cool. It is simply an estimation and I’m already expecting a number around that range to be released in November every year. It’s usually around this time every year.

To copy-and-paste from CPF website:

CPF interest rates from 1 January 2019 to 31 March 2019

  • Up to 3.5% per annum on the Ordinary Account
  • Up to 5% per annum on the Special and MediSave Accounts
  • Up to 5% per annum on the Retirement Account
  • CPF members aged 55 and above will earn an additional 1% extra interest on the first $30,000 of their combined balances

HDB mortgage rate from 1 January 2019 to 31 March 2019

  • Remains unchanged at 2.6% per annum

Basic Healthcare Sum (BHS) for 2019

  • For members below 65 years old in 2019, BHS will be $57,200
  • For members who turn 65 years old in 2019, BHS will be $57,200 and will not change for the rest of their lives

As I have blogged about previously, the challenges lie in having to achieve the following:

  1. Meeting the annual increase in CPF requirements (currently ~$7,700/yr) and
  2. Payment of HDB loans via CPF-OA (people tend to neglect this)
  3. Any amount on top of [1] and [2] goes towards meeting CPF Basic/Full/Enhanced Retirement Sum

For some perverse reasons, people like to read about CPF posts. I’m more than happy to do one after all the transactions are registered for 2018 to see whether I’ve managed to hit my target for the year.