What are the CPF contribution rate changes, and when will they take effect?
The CPF contribution rates for older workers aged above 50 to 65 years will be increased for wages earned from 1 September 2012.
Specifically, the employer CPF contribution rates will be increased by 2.0, 1.5 and 0.5 percentage points for employees aged above 50 to 55 years, above 55 to 60 years and above 60 to 65 years respectively.
The employee CPF contribution rates will also be increased by 0.5 percentage points for those aged above 50 to 55 years and above 55 to 60 years.
The detailed changes (new contribution rates are inBlue, percentage point increase is in brackets) are as follows:
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