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MPs debate foreign-local worker balance in Singapore

MPs debate foreign-local worker balance in Singapore
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Day 1 of Budget 2021 debate: 5 key themes

Day 1 of Budget 2021 debate: 5 key themes
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Office workers at Raffles Place after the circuit breaker period. (Photo: Gaya Chandramohan)
24 Feb 2021 11:53PM)
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SINGAPORE: Members of Parliament (MPs) and Nominated Members of Parliament (NMPs) on Wednesday (Feb 24) discussed the Budget 2021 initiatives presented by Deputy Prime Minister Heng Swee Keat last week, as well as listed a number of suggestions for consideration.
This comes a week after Mr Heng, who is also Finance Minister, delivered his Budget speech, in which he laid out Singapore’s path of recovery from the COVID-19 pandemic.
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Mr Heng had said that as Singapore’s economy reopens, the focus of Budget 2021 will shift “from containment to restructuring”, but there will be targeted support for the hardest-hit sectors as the global battle against COVID-19 is fa ....

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How long will I take to retire a millionaire?

(including employer s CPF contribution)
20 per cent + 17 per cent
(Self + Employer)
Note: CPF contribution rates change according to different age bands in order to cater to different needs at different life stages.
^CPF contributions are computed based on total salary earned by an employee in a month. Hence, CPF contributions are computed based on the total salary of $3,875.21 (which excludes employer’s CPF contributions of 17 per cent of total salary i.e. $658.79).
Sally’s monthly CPF contribution
We’ve established earlier that Sally’s salary (excluding employer’s CPF contribution) is $3,875.21.
Using CPF’s contribution calculator, here’s how much goes into her CPF every month: ....

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