Update to CPF Basic Healthcare Sum (BHS) Projection for 2023

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2022/11/29/update-to-cpf-basic-healthcare-sum-bhs-2023/

Refer to the list of acronyms on CPF in the following blog posts: https://pwlcm.wordpress.com/2022/01/06/acronym-cpf/

I am a CPF Volunteer. If you find this blog post providing useful information about CPF matters and it leads you to using CPF online services, you may fill in my full name “Tan Choong Hwee” in the “Referrer Name” field in some selected CPF online services.

Today (29 November 2022) CPF Board announced that the Basic Healthcare Sum (BHS) for 2023 is $68,500: https://www.cpf.gov.sg/member/infohub/news/news-releases/cpf-interest-rates-from-1-january-2023-to-31-march-2023-and-basic-healthcare-sum-for-2023

The announced 2023 BHS amount is $1,000 less than what I had projected in my blog post: https://pwlcm.wordpress.com/2022/03/28/guide-to-cpf-basic-healthcare-sum-bhs-projection/

The increase of BHS amount from $66,000 in 2022 to $68,500 in 2023 represents a +3.79% increase. So I have revised the annual % increase of BHS to be rounded to 4% and the nearest multiples of $500.

With that assumption, the BHS projection is revised to the following table: