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CPF Contribution Rate Table from 1 January 2024 for Singapore Citizens or Singapore Permanent Residents (3rd year onwards) Notes:
Jan 1, 2024 · CPF contributions are payable to employees who are Singapore Citizens and Singapore Permanent Residents (SPRs) at current CPF contribution rates. Learn how to calculate the amount of CPF contributions you need to pay. Updates on 1 April 2024.
This calculator has been updated to include rates applicable from January 2024. If you are an employer using CPF EZPay to submit and pay CPF contributions, you do not have to use this tool. CPF EZPay auto-computes employee CPF contributions for you.
Jan 10, 2024 · From 1 January 2024 onwards, employers may have to make more CPF contributions for their employees as the monthly salary ceiling rises to $6,800 per month. The monthly salary ceiling is also slated to rise to $8,000 in 2026. There is no change to the Annual CPF Limit though – which remains at $37,740.
Apr 16, 2024 · From 1 st January 2024, the CPF monthly salary ceiling has been raised to SS$6,800. It will go up to S$7,400 from 1 st January 2025 and S$8,000 from 1 st January 2026. Apart from the CPF monthly salary ceiling, there is also the CPF annual salary ceiling which sets the maximum amount of wages that would attract CPF contributions.
Feb 20, 2024 · In this year’s Budget 2024, it was announced that the fourth round of CPF contribution rate increases of 1.5% for workers aged 55 to 65 will be implemented on 1 January 2025. The increase in contribution rates would be fully allocated to the retirement account to help senior workers save more for retirement. This translates to:
These rates are also applicable to 1st and 2nd year Singapore Permanent Resident (SPR) employees and their employers after CPF Board approves their joint application to contribute to CPF at full employer- full employee rates. for Singapore Permanent Residents (SPR) during 1st year of SPR status under Graduated contribution rates (G/G) Notes:
CPF Contribution Changes from 1 January 2025. 1. Increase in CPF Ordinary Wage ceiling from 1 January 2025. (a) The CPF Ordinary Wage (OW) ceiling limits the amount of OW that attract CPF contributions in a calendar month for all employees. The OW ceiling will be raised to $8,000 by 2026.
Apr 15, 2024 · Complete Guide To Your CPF Contributions In Singapore (2024): Salary Caps, Contribution Rates And Allocation Rates. Here’s how much you are contributing to your CPF accounts, at every income level and age group.
Feb 14, 2023 · From Jan 1, 2024, contribution rates for workers aged 55 to 60 will jump 1.5 percentage points to 31 per cent. Rates for those aged 60 to 65 will also climb 1.5 percentage points to...
