CPF Contribution Rates: The CPF Contribution Rates will be increased by 0.5% and the salary ceiling will be increased to S$5,000. Both these changes will take effect from 1 Sep 2011.
A summary of the new rates is provided below for employees who are Singapore Citizens and 3rd year (onwards) Singapore Permanent Residents who earn more than SGD 1500 per month. The increased contribution will be credited to the employees’ Special Account (including those above 55 years of age). However, the additional 0.5 percentage point does not apply to employers and first and second year Singapore Permanent Residents (SPR) contributing CPF at graduated employer and employee rates.
Tags: cpf contribution rate, cpf contribution rate updates september 2011
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