Latest statistics indicate Govt continues to not spend a single cent on healthcare & CPF?

Not spending a single cent on healthcare and CPF?

The recently published CPF statistics by the CPF Board and the Budget expenditure (revised for FY2013) indicate that the Government continues – from a cashflow perspective – to be not spending a single cent on healthcare and CPF.


Estimated total annual contributions to Medisave – $8 billion (Total CPF contributions to all accounts (OA, SA and Medisave) in 2013 was $28.53 billion)

Estimated 4.25% interest (4% plus extra 1% on 1st $60,000 of Medisave, Special and Ordinary accounts) on total Medisave accounts’ balance of $65.6 billion –  $2.8 billion

Total inflows: $10.8 billion

Government expenditure on healthcare (total operating and development expenditure) –  $7.12 billion

Medisave Scheme withdrawals (includes withdrawals for hospitalisations, approved chronic illnesses, ElderShield premiums and Integrated Shield Plans’ premiums) – $1.56 billion

MediShield Scheme (premiums)              –  $817.6 million

Medifund payouts                                       –  $102 million

Pioneer Generation Package 1st year costs –  $260 million

Total outflows: $9.76 billion

You can see from the above that total healthcare inflows of $10.8 billion (estimated) exceed the total healthcare outflows of $9.76 billion.


Total contributions 2013 – $28.53 billion

Total withdrawals 2013  –  $14.86 billion

Total members’ balance –   $252.97 billion

Since all CPF monies are the members’ contributions – the Government from a cashflow perspective – does not spend a single cent on our CPF system.

Leong Sze Hian



About the Author

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.