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CPF contribution rates
Check out our Complete Guide to CPF in Singapore.
The CPF contribution rates for employees aged above 55 to 70 have been increased from 1 January 2022. The rates for employees earning monthly wages more than $750 are as of below table:
| Employee's age (years) |
Current rate (% of wages) |
CPF contribution rates from 1 January 2022 | ||
| Total (% of wages) |
By employer (% of wages) |
By employee (% of wages) |
||
| Above 55 to 60 | 26 | +2 | +1 | +1 |
| Above 60 to 65 | 16.5 | +2 | +1 | +1 |
| Above 65 to 70 | 12.5 | +1.5 | +0.5 | +1 |
For employees that earned $500 to $750, the employee contribution rates will continue to be phased in.
The following table summarises the contribution rates for Singapore Citizens and SPRs (from the third year and onwards) from 1 January 2023
| Employee's age (years) |
CPF Contribution Rates changes from 1 Jan 2023 (monthly wages >$750) |
||
| Total (% of wages) |
By employer (% of wages) |
By employee |
|
| 55 & below | 37 | 17 | 20 |
| Above 55 to 60 | 29.5 | 14.5 | 15 |
| bove 60 to 65 | 20.5 | 11 | 9.5 |
| Above 65 to 70 | 15.5 | 8.5 | 7 |
| Above 70 | 12.5 | 7.5 | 5 |
You can refer to the CPF contribution rate tables for more info
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