Increase CPF contribution rate to strengthen retirement adequacy
24/09/2021
The CPF contribution rates for employees aged above 55 to 70 will be increased by 1.5-2% with effect 1 JAN 2022 to strengthen their retirement adequacy. This will impact the take-home nett salary of employees in this age range as well as the labour costs to the employers.
There are no changes to the graduated contribution rates for first and second year Singapore Permanent Residents (SPRs).
More details can be found at CPF Board’s website.
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