CPF minimum sum for July 2014 [Predicted]

The inflation rate for Singapore 2013 is announced as 2.4%
Source:
http://www.singstat.gov.sg/news/press_releases/cpidec2013.pdf



With the inflation amount released, I am now able to give my estimate for the CPF minimum sum for July 2013 like what I did last year.

"And the CPF mimimum sum for July 2014 will be...."

*** Drums roll ***

$154800 !

How do I arrive at this number?
The CPF minimum sum changes every July and there are 2 factors that affect the CPF minimum sum:
1) inflation rate
2) the target of 120k (in 2003 dollars) that is to be reached in July 2015.

There are still 2 more years to hit the 120k (in 2003 dollars) target. If we spread out this increase evenly over the next 2 years, we will see an increase of 2500 in 2003 dollars each year.

With this, my calculation for July 2014 CPF minimum sum is as follows:

Estimated July 2014 CPF minimum sum
= 117500 / 115000 * 148000 * 1.024
= $154847
= $154800 (rounded to nearest $100)

I believe this is the more likely scenario.


What if other targets for July 2014 is used?
If some other target (other than 117500) is used for Jul 2014, the minimum sum will be slightly different.

target of $117000
est min sum = 117000 / 115000 * 148000 * 1.024
= 154188
= $154200 (rounded to nearest $100)

target of $118000
est min sum = 118000 / 115000 * 148000 * 1.024
 = 155506
= $155500 (rounded to nearest $100)


target of $120000
This scenario will mean that the target is brought forward by one year from 2015.
est min sum = 120000 / 115000 * 148000 * 1.024
= $158141
= $158100 (rounded to nearest $100)

The actual figures will be released some time in June. We shall see if the above estimates is correct then.