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What is the percentage for CPF contribution
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In Singapore, the Central Provident Fund (CPF) contribution rates vary based on the age and income of the employee.
For employees aged 55 and below, the standard CPF contribution rates are:
- Employees contribute 20% of their ordinary wages.
- Employers contribute 17% of the employees' ordinary wages.
- Employees contribute 20% of their ordinary wages.
- Employers contribute 17% of the employees' ordinary wages.
For employees aged above 55 to 65, the CPF contribution rates have been increased from 1 January 2025 to strengthen their retirement adequacy:
- Employees in this age group will see an increase in their CPF contribution rates, with the specifics depending on their monthly wages. For example, those earning more than $750 per month will have their employee contribution rates adjusted accordingly.
- By 2026, there will be a further 1.5 percentage-point increase in CPF contribution rates for this age group.
- Employees in this age group will see an increase in their CPF contribution rates, with the specifics depending on their monthly wages. For example, those earning more than $750 per month will have their employee contribution rates adjusted accordingly.
- By 2026, there will be a further 1.5 percentage-point increase in CPF contribution rates for this age group.
For detailed tables and specific rates, it is advisable to refer to the official CPF announcements or relevant government sources.
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