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"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Friday, 15 July 2011

CPF Contribution and Allocation Rates from 1 September 2011

From 1 September 2011, the employers’ CPF contribution rate will be increased by 0.5 percentage point. For employees who are above 35 years old and earning monthly wages of up to $1,500, the higher employer CPF contribution rate will continue to be phased in from 0% at the wage of $50 to the new full rate at the wage of $1,500. The increased contribution will be credited to the employees’ Special Account (including those above 55 years of age).


However, the additional 0.5 percentage point does not apply to employers and first and second year Singapore Permanent Residents (SPR) contributing CPF at graduated employer and employee rates.


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