Update to CPF Basic Healthcare Sum (BHS) Projection for 2024

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2023/12/06/update-to-cpf-basic-healthcare-sum-bhs-projection-for-2024/

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.

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Today (6 December 2023) CPF Board announced that the Basic Healthcare Sum (BHS) for 2024 is $71,500:
https://www.cpf.gov.sg/member/infohub/news/news-releases/cpf-interest-rates-from-1-january-2024-to-31-march-2024-and-basic-healthcare-sum-for-2024

The announced 2024 BHS amount is $500 more than what I had projected in my blog post:
https://pwlcm.wordpress.com/2022/11/29/update-to-cpf-basic-healthcare-sum-bhs-2023/

The increase of BHS amount from $68,500 in 2023 to $71,500 in 2024 represents a +4.38% increase. So I have revised the annual % increase of BHS to be rounded to 4.5% and the nearest multiples of $500.

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