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CTO is a wage offset scheme that helps employers cope with the increase in CPF contribution rates for workers aged 55 to 70. Employers will receive up to 50% of the annual increase in employer CPF contributions, based on employees' monthly incomes paid up to the CPF salary ceiling.
The CPF Transition Offset is a one-year subsidy for employers to offset the increase in CPF contribution rates for workers aged above 55 to 70. It is provided automatically for the 2022 and 2023 increases, which are part of the gradual raise of CPF rates over this decade.
Mar 22, 2024 · Learn about the enhancements to CPF in 2024, including the Majulah Package, the CPF contribution rate increase for senior workers, and the CPF Transition Offset extension. Find out how these changes will affect your retirement adequacy and savings.
Feb 20, 2024 · Learn how the CPF Transition Offset scheme helps businesses cope with the higher CPF contribution rates for workers aged 55 to 70 from 2025. Find out the current and target CPF rates, the payout timeline and the eligibility criteria for the scheme.
Dec 13, 2023 · Learn how the CPF Transition Offset (CTO) can help employers cope with the increase in CPF contribution rates for senior workers from 1 January 2023. Find out the eligibility criteria, offset amount and application process for CTO.
Feb 16, 2024 · The web page lists the changes to CPF announced in the FY2024 Budget Statement, such as the Majulah Package, MediSave Bonus, and closure of Special Account. However, it does not mention any transition offset or related measures for CPF members.
