CPF CONTRIBUTION RATES FOR SINGAPORE PERMANENT RESIDENTS
	News Release by: Central Provident Fund Board 19 SEPTEMBER 2003 --
	Currently, Singapore Permanent Residents contribute to CPF at graduated rates in their first and second year of becoming a Permanent Resident. The full CPF contribution rate will apply from the third year onwards. This is to allow them time to adjust to contributing to the CPF.
	The Government has recently announced that the CPF contribution rate will be cut by 3% to 33% with effect from 1 October 2003. Permanent Residents paying the first year contribution rates will not be affected by this change. This means those below age 55 and working in the private sector will continue to pay the current rates of 4% (employer contribution) and 5% (employee contribution) in the first year of becoming a Singapore Permanent Resident.
	For second year Permanent Residents, with effect from 1 October 2003, the private sector employer contribution rate for those aged 55 and below will be lowered by 3 percentage points to 9%. The employee contribution rate will remain unchanged at 15%.
	Third year Singapore Permanent Residents will continue to pay the rates applicable for Singapore citizens. For more details of the CPF contribution rates for Permanent Residents working in the private sector, please refer to tables 1-5 in Annexes A and B or the CPF website: www.cpf.gov.sg.
	PUBLIC ENQUIRIES
	Members with enquiries may call the CPF Employer Call Centre on 1800-226 3877.
	Annex A
	Table 1: 1st Year Contribution Rates for Singapore Permanent Residents working in the private sector with effect from 1 October 2003
	Age Employer Employee Total 55 years and below 4% 5% 9% Above 55 years to 60 years 4% 5% 9% Above 60 to 65 years 3.5% 5% 8.5% Above 65 years 3.5% 5% 8.5%
	Table 2: 2nd Year Contribution Rates for Singapore Permanent Residents working in the private sector with effect from 1 October 2003
	Age Employer Employee Total 55 years and below 9% 15% 24% Above 55 years to 60 years 6% 12.5% 18.5% Above 60 to 65 years 3.5% 7.5% 11% Above 65 years 3.5% 5% 8.5%
	Table 3: 3rd Year Contribution Rates for Singapore Permanent Residents working in private sector with effect from 1 October 2003 (Identical to the contribution rate for other Singapore citizens)
	Age Employer Employee Total 55 years and below 13% 20% 33% Above 55 years to 60 years 6% 12.5% 18.5% Above 60 to 65 years 3.5% 7.5% 11% Above 65 years 3.5% 5% 8.5%
	Annex B
	Table 4: 3rd Year Contribution Rates for Singapore Permanent Residents working in private sector with effect from 1 January 2005 (Identical to the contribution rate for other Singapore citizens)
	Age Employer Employee Total 50 years and below 13% 20% 33% Above 50 years to 55 years 11% 19% 30% Above 55 years to 60 years 6% 12.5% 18.5% Above 60 to 65 years 3.5% 7.5% 11% Above 65 years 3.5% 5% 8.5%
	Table 5: 3rd Year Contribution Rates for Singapore Permanent Residents working in private sector with effect from 1 January 2006 (Identical to the contribution rate for other Singapore citizens)
	Age Employer Employee Total 50 years and below 13% 20% 33% Above 50 years to 55 years 9% 18% 27% Above 55 years to 60 years 6% 12.5% 18.5% Above 60 to 65 years 3.5% 7.5% 11% Above 65 years 3.5% 5% 8.5%