Transcription of Press Release on CPF Contribution Rate Changes …
1 Annex A CPF Contribution Rates Changes * Date Employee Age Contribution Rate (%) Credited Into (%) Employer Employee Total OA SA MA Current 35 years or less 16 20 36 23 6 7 Above 35 45 years 21 7 8 Above 45 50 years 19 8 9 Above 50 55 years 12 18 30 13 8 9 Above 55 60 years 9 1 9 Above 60 65 years 14 1 Above 65 years 5 1 1 wef 1 Sep 2012 35 years or less 16 20 36 23 6 7 Above 35 45 years 21 7 8 Above 45 50 years 19 8 9 Above 50 55 years 14 Above 55 60 years 12 2 Above 60 65 years 7 Above 65 years 5 1 1 * As is the current practice, low wage workers in the affected age groups and earning between $50 and $1.
2 500 will see pro-rated increases in their employer and employee CPF Contribution rates. This approach enhances the employability for the older low wage workers. Further details on Contribution rates are available on CPF Board s website.
