Recently I met a single mother who shared with me how she benefits from CPF and Medisave when her husband died few years ago. She was very thankful of Singapore policy makers for these helpful systems. I find it very touching and real that CPF and Medisave save lives, which a lot of people are not aware yet. Thus, I decided to share her story in her point of view, with her consent, hoping to help more readers understand the importance of CPF and Medisave. If you are foreigners working in Singapore and unsure if you should apply for Singapore Permanent Residency, you may want to read this before making your decision.
Story begins……
When my husband, Ming, passed away suddenly at the age of 45, my world turned upside down. As a Malaysian who had become a Singapore Permanent Resident, he had worked hard to secure a future for our family, but nothing could prepare us for this unexpected loss. I was left with our two young children, ages 5 and 7, and a daunting responsibility to provide for them on my own. At first, I was indecisive about residing in Malaysia or Singapore. But after I got to know about what’s left from Ming’s Medisave and CPF accounts, I decided to stay in Singapore.
In the midst of my grief, I learned about the financial resources available through Ming’s Medisave and CPF accounts. Initially, I was overwhelmed by the paperwork and procedures, but I soon realized these funds could provide critical support for my family.
Ming’s Medisave funds became a lifeline for us, especially when it came to healthcare. As a single mother, ensuring my children’s health was paramount. Medisave helped cover their medical expenses, from routine check-ups to unexpected illnesses. Knowing that I could use these funds gave me peace of mind, allowing me to focus on other aspects of our lives without the constant worry of medical bills.
The CPF savings, which included his Ordinary, Special, and Retirement Accounts, were another essential resource. After going through the necessary steps to claim the funds, I received the money which provided a cushion for our daily expenses. I used a portion of the CPF money to settle outstanding bills and secure our housing situation. This stability was crucial in maintaining a sense of normalcy for my children during such a turbulent time.
With the remaining funds, I focused on future planning. I set aside money for my children’s education, ensuring they could continue their schooling without interruption. This was a significant priority for me, as I wanted to honour Ming’s dream of giving our children the best possible start in life.
While no amount of money could ever replace Ming, the financial support from his Medisave and CPF accounts allowed me to rebuild our lives. The funds provided us with the stability we desperately needed and gave me the strength to move forward. I also sought support from community groups and government resources in Singapore, which further helped us navigate this challenging period.
Today, my children are thriving in school, and I have found a job that allows me to support us while still being present for them. We are living happily and safely in Singapore. The journey has not been easy, but the financial resources left by my husband have played a vital role in helping us get back on our feet.
To other single parents out there, I hope my story highlights the importance of understanding and utilizing available resources like Medisave and CPF. They can provide much-needed support during the toughest times and help you focus on what truly matters – the well-being and future of your children.
-The End-
As a financial consultant, I am always grateful of the opportunities to talk to people from all walks of life, listen to their stories, and share their valuable stories with others to help enlighten others. This is my passion in helping others through every stage of their life.
If you are interested to know more about what CPF and Medisave can do; or wish to engage for personalized financial advice, contact me now!
For those who are still considering applying for Singapore Permanent Residency or Citizenship, you may want to read the following articles for more insights!
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
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