Median, Average and Range of Balances Left in CPF Members' Medisave Accounts in Last Five Years on Their Demise

Assoc Prof Daniel Goh Pei Siong asked the Minister for Health in the last five years, what have been the median, average and range of balances left in CPF members' MediSave accounts when they passed on.

Mr Gan Kim Yong: MediSave helps Singaporeans set aside part of their income over their working years to save up for healthcare expenses in old age, when their healthcare needs are typically higher. Between 2013 and 2017, about half of Singaporeans aged 65 and above who passed away had about $5,500 or less in their MediSave. For those who pass away at an older age of 85 and older, half had $4,000 or less left in their MediSave Account.

The data are summarised in Table 1 below.

Some of them have also benefited from the Pioneer Generation Package, which includes annual MediSave top-ups of up to $800 and additional MediShield Life premium subsidies.