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Hwee Kian

21 Nov 2019

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Max out BHS contribution limit?

For BHS, this year's limit is $57,200 and next year it's $60,000. If I want to contribute to max out my MA this year, does it mean I can only top up to the max of $57,200 by 31st Dec, and then contribute again early next year to cap it at $60,000?

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Elijah Lee

20 Nov 2019

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi Hwee Kian,

That is correct. If your MA is at BHS already, you won't be allowed to top up more. It's a hard ceiling, and work contributions will also not flow into MA in this case.

Once 1st Jan 2020 rolls around, you can contribute again to push it to $60K.

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