In general, the maximum amount of VC a member can make is the difference between the CPF Annual Limit of $37,740 and the mandatory contributions (MC) made for the calendar year. Hence, the MC and VC made in a year cannot exceed the current CPF Annual Limit.
MC refers to compulsory contributions required under the CPF Act. These include CPF contributions on the Ordinary and Additional Wages for employees, and MediSave contributions by self-employed persons.
Do note that the VC to the MediSave Account is further subject to the member’s Basic Healthcare Sum (BHS). Therefore, once the member’s BHS is reached, no further VC to the MediSave Account can be made.
Any VC made in excess will be refunded without interest.
