From 1 January 2022, CPF members can get an annual tax relief cap of $8,000 when they make cash top-ups to their own CPF accounts and another $8,000 when they do so for their loved ones, up from $7,000. In addition, the top-up limit for Voluntary Contributions to MediSave Account will only depend on the Basic Healthcare Sum, instead of both the Basic Healthcare Sum and the CPF Annual Limit.
Minister for Manpower Tan See Leng made this announcement in Parliament on 1 November 2021.
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