Sunday, May 02, 2010

CPF contribution to be raised by 1% point this year

The employer's contribution to the CPF, a national pension fund, will go up by one per cent to 15.5 percent. This will bring the overall contribution rate to 35.5 per cent. The restoration will be done in two steps. 0.5 per cent from September, paid into the Medisave Account and another 0.5 per cent from March next year, paid into the Special Account. There is no top ups to the Ordinary Account as it's deemed enough to meet housing needs.

Changes to CPF Contribution Rates [via]

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