3E Framework
>> Saturday, October 3, 2009
In an exclusive interview via email with MediaCorp, Health Minister Khaw Boon Wan gave a picture of what is to come as his ministry prepares to introduce the 3E framework - Eldersave, ElderShield and Elderfund - expected to be fully developed and bedded down over the next 15 to 20 years.
- ElderSave: To ensure people save money for their later years, the Ministry of Health (MOH) will be increasing the Medisave contribution rate. Currently, Singaporeans and permanent residents contribute 6.5 to 9 per cent of their monthly salary to their Medisave.
- ElderShield: Payouts for ElderShield - a severe disability insurance scheme for long-term care - at $400 per month for six years, could be increased to around $800 per month over eight years. No doubt, this would mean having to increase the premiums.
- ElderFund: The third safety-net will be Medifund-Silver. The Government will continue to increase the endowment fund "as and when there are budget surpluses".
0 comments:
Post a Comment