Search results
Calculate your CPF contributions for private sector and non-pensionable government employees. Enter your monthly wages and select your employment status to get the CPF rates and ceilings applicable from January 2024.
- Calculators
Calculators to help you with retirement, housing, healthcare...
- Calculators
Find various calculators to help you with CPF-related matters, such as retirement, housing, healthcare, contributions, government support and more. Compare and estimate your monthly payout, CPF usage, MediSave claims, Workfare Income Supplement and other benefits.
The CPF Forecast Calculator is used to estimate the contributions and balances of the multiple CPF accounts based on current account information and various assumptions to help you plan for retirement. The calculator predicts your CPF balances up to age 55.
- What Is CPF and Why Do We Have It?
- What Are The CPF Contribution components?
- What Are The CPF Contribution Rates in 2024?
- What CPF Accounts Do You have?
- What Are The Monthly CPF Allocation Rates in 2024 For These accounts?
- When Can You Use The Money in Your CPF accounts?
- What Is The CPF Retirement Sum and How Does It Affect You?
- What’s The Difference Between The CPF Retirement Sum Scheme and CPF Life?
- What Are The Retirement Payouts Under The CPF Life Scheme?
- What Is The CPF Interest Rate?
- GeneratedCaptionsTabForHeroSec
The Central Provident Fund, or CPF, was set up to play one of the most important functions in Singapore’s social security system. The main purpose of CPF is to ensure that Singaporeans have enough money for retirement, to pay for medical bills when they fall ill, and to buy a home with. And one of the chief ways these goals are achieved is by forci...
For salaried employees who are Singapore Citizens or Singapore Permanent Residents (PRs), your CPF contributions comprise the employee’s contribution(that’s you) and your employer’s contribution. These contributions are made automatically for you. 1. Every month, when paying out your salary, your employer is required to declare your wages to the CP...
As of 1 January 2024, the CPF contribution rates have increased for those aged 55 to 70 who are still working. This is on top of the increase in CPF Ordinary Wage (OW) ceiling in Sep 2023 where it will be increased from $6,000 to $8,000 by 2026, taking place in four steps. Here’s how much each person contributes, by the percentage of the employee’s...
All Singaporeans and PRs have the following CPF accounts, which are opened to contain money for several purposes: Back to top
By now you should already have a rough idea of how much money goes into your CPF accounts every month. (If you don’t and are too lazy to figure it out, just use the CPF contribution calculator!) You should also know that you have several CPF accounts. So how are your monthly CPF contributions split across your CPF accounts? Once the money is paid i...
While there is no hard and fast rule as to how to get utility of your CPF accounts before you retire, here are some common ways Singaporeans use that painstakingly-saved cash. Using the money in your OA to buy a home: Looking for an HDB home or forking out the cash for private property? You can use the money in your OA to pay for part of your prope...
You’ve probably heard mutterings about this evil thing called the CPF Retirement Sum, and how it’s getting higher every year. It used to be called the CPF Minimum Sum, which both upset and confused Singaporeans, and so the decision was made to rename it to the CPF Retirement Sum. But what the heck is it really, and how does it affect you? When peop...
While both are retirement payout programmes, the CPF Retirement Sum Scheme gives payouts until your CPF balance runs out, while CPF LIFE gives you payouts for as long as you live—yes, even if your age hits 3 digits. Let’s take a closer look at these schemes. The older CPF Retirement Sum Schemerequires you to have a minimum amount in your CPF accoun...
Your monthly payouts when you turn 65 will depend on whether the amount you’ve accumulated in your RA meets the Basic, Full or Enhanced Retirement Sum (whichever is highest). As you can probably imagine, the rising cost of living makes it necessary to raise the CPF Retirement Sums every year. The ERS will be increased to $426,000 in 2025, instead o...
As you might know, leaving your cash in a bank account means that its value will erode over time, since bank account interest rates tend to be so pathetic that they probably can’t effectively hedge against inflation. The money in your CPF accounts earns interest, too, but thankfully at much better rates than your typical bank account. At the moment...
Learn how CPF works in Singapore, including contribution rates, ceilings, retirement sum, interest rates, and more. Use CPF calculators to find out how much you can save and withdraw from your CPF accounts.
- 1958 or after
- Automatically enrolled in CPF LIFE?
- Singapore Citizen or PR
Apr 15, 2024 · Here’s how much you are contributing to your CPF accounts, at every income level and age group. Our CPF is a mandatory savings scheme that forces us to save a portion of our salary to pay for important expenses in our lives, including buying a home, medical treatments and a basic retirement when the time comes.
- Dinesh Dayani
Jun 14, 2021 · You can also check out the CPF Withdrawals Limits Calculator to understand how much CPF funds you can use to pay for your home as well as the Total Interest Calculator to estimate the total interest you will eventually pay on your home loan.
You can use the CPF contribution calculator available on the Central Provident Fund Board (CPFB) website to compute your monthly CPF contributions. This calculator takes into account your salary and age to calculate the amount of CPF contributions you need to make.
