BUDGET 2023 – CHANGES TO CPF MEASURES
23/02/2023
BUDGET 2023 – CHANGES TO CPF MEASURES
- Provide CPF Transition Support to lower-income Platform Workers for increase in CPF contributions
- Increase CPF contribution rates for senior workers and provide CPF Transition Offset
- Increase minimum CPF monthly payout for seniors on Retirement Sum Scheme to $350
- Increase CPF monthly salary ceiling from $6,000 to $8,000 by 2026
- This will be carried out in phases
- The annual salary ceiling remains unchanged
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