I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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Saturday 22 February 2014

Changes to CPF contribution rates from January 2015


Employer contribution rates to the Medisave Account (MA) will be increased for all workers to help them save more for healthcare needs. Workers aged above 50 to 65 will see an additional increase in the employer contribution rates to the Special Account (SA) to help them save more for retirement.

Employee contribution rates to the Ordinary Account (OA) will increase for workers aged above 50 to 55.

The table below shows these increases in CPF contribution rates for Singapore Citizens (SCs), and for Singapore Permanent Residents (SPRs) from their 3rd year of obtaining SPR status.

Increases in CPF contribution rates for SCs and SPRs from January 2015
Employee's age (years) Percentage point increase in CPF contribution rates (for wages ≥ $750) Allocation of increase
Contribution by employer Contribution by employee Total OA SA MA
50 and below +1% - +1% - - +1%
Above 50 - 55 +2% +0.5% +2.5% +0.5% +1% +1%
Above 55 - 60 +1.5% - +1.5% - +0.5% +1%
Above 60 - 65 +1.5% - +1.5% - +0.5% +1%
Above 65 +1% - +1% - - +1%


Medisave contribution rates for Self-Employed Persons (SEPs) with annual net trade income of $18,000 and above will be raised by 1%.

The rates in the table below are applicable to SEPs for annual net trade income from 2015.

Contribution rates applicable to SEPs from 2015
Annual net trade income (from 2015) Age as at 1 January of work year
Below 35 years 35 to below 45 years 45 to below 50 years 50 years and above
Above $6,000 to $12,000 4% 4.5% 5% 5.25%
Above $12,000 to $18,000 Phased in* from 4% to 8% Phased in* from 4.5% to 9% Phased in* from 5% to 10% Phased in* from 5.25% to 10.5%
Above $18,000 8%

(Maximum $4,800)
9%

(Maximum $5,400)
10%

(Maximum $6,000)
10.5%

(Maximum $6,300)
*Please refer to the CPF website for the phased-in rates.

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