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) |
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