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The ultimate CPF guide 2021: Contributions, interest rates, minimum sums & calculators

12.5 per cent
Note on CPF contributions for 55 & above: Over the next 10 years, CPF contributions for older workers will be gradually adjusted upwards to meet the full contribution rate of 37per cent (employee + employer). The CPF contribution rates will only drop after age 60.
By the way, if you’re self-employed, none of the above applies to you. Any CPF contributions are voluntary EXCEPT Medisave contributions, which you’ll be prompted to pay after filing your taxes each year.
Example
Let’s say you are a 30-year-old earning a monthly salary of $5,000.
Every month, your employee’s contribution to CPF will be 20 per cent of your wage. That means that $1,000 will be deducted from your salary every month and deposited into your CPF accounts. ....

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10 Types Of Employee Payments (Apart From Salary) That Businesses Need To Pay CPF For

7 minute read
Employers in Singapore are typically quite well-versed with the CPF scheme. Besides usually being a CPF member themselves, business owners and those who do payroll also have to contribute to CPF for their employees on a monthly basis when they pay salary.
While many are fairly familiar with the CPF scheme, there may also be lesser-known requirements we are not fully aware of. In this article, we detail 10 types of payments to employees (apart from their monthly salary) that businesses need to contribute CPF on as well. We also list some salary payments types that businesses don’t have to contribute CPF on. ....

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