CPF Contribution Rates
From Financial Literacy Wiki
CPF Contribution Rates is of concern to many Singaporeans and Permanent Residents as it affects on the houses they can buy, insurance to buy and affordability of medical expenses. Below is a table to find out the contribution from employees and employers. They are applicable for the following peopl.
- Private Sector Employees
- Government Non-Pensionable Employees
- Non-Pensionable Employees in Statutory Bodies & Aided Schools
- Singapore Permanent Resident (SPR) employees from their 3rd year onwards
| Employee Age (years) | Contribution By Employer(% of wage) | Contribution By Employee(% of wage) | Total Contribution (% of wage) | % Allocate to OA | % Allocate to SA | % Allocate to MA |
|---|---|---|---|---|---|---|
| 35 & below | 16.0% | 20.0% | 36.0% | 23.0% | 6.0% | 7.0% |
| Above 35 - 45 | 16.0% | 20.0% | 36.0% | 21.0% | 7.0% | 8.0% |
| Above 45 - 50 | 16.0% | 20.0% | 36.0% | 19.0% | 8.0% | 9.0% |
| Above 50 - 55 | 12.0% | 18.0% | 30.0% | 13.0% | 8.0% | 9.0% |
| Above 55 - 60 | 9.0% | 12.5% | 21.5% | 11.5% | 1.0% | 9.0% |
| Above 60 - 65 | 6.5% | 7.5% | 14.0% | 3.5% | 1.0% | 9.5% |
| Above 65 | 6.5% | 7.5% | 14% | 3.5% | 1.0% | 9.5% |
| Employee Age (years) | Contribution By Employer(% of wage) | Contribution By Employee(% of wage) | Total Contribution (% of wage) | % Allocate to OA | % Allocate to SA | % Allocate to MA |
|---|---|---|---|---|---|---|
| 35 & below | 15.5% | 20.0% | 35.5% | 23.0% | 5.5% | 7.0% |
| Above 35 - 45 | 15.5% | 20.0% | 35.5% | 21.0% | 6.5% | 8.0% |
| Above 45 - 50 | 15.5% | 20.0% | 35.5% | 19.0% | 7.5% | 9.0% |
| Above 50 - 55 | 11.5% | 18.0% | 29.5% | 13.0% | 7.5% | 9.0% |
| Above 55 - 60 | 8.5% | 12.5% | 21.0% | 11.5% | 0.5% | 9.0% |
| Above 60 - 65 | 6.0% | 7.5% | 13.5% | 3.5% | 0.5% | 9.5% |
| Above 65 | 6.0% | 5.0% | 11.0% | 1.0% | 0.5% | 9.5% |
On 1st May 2010, the Singapore Government announced that there will be a gradual increase of Employer's CPF Contribution. The increase will be in two phases. In September 2010, the contribution rate will increase by 0.5% and the funds enters into the Medisave Account. In March 2011, the contribution rate will increase by 0.5% and the funds enters into the Special Account.
For the latest contribution rates, please refer to CPF website.
