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CPF Contribution and Allocation Rates from 1 January 2015 New!

 

From 1 January 2015, the CPF contribution rates are increased to help employees save more for retirement and healthcare needs. The following apply to wages earned from 1 January 2015:

 
(i) Increase in Employer’s CPF Contribution Rates
  For employees aged 50 years and below or above 65 years, the employer contribution rates are increased by 1 percentage point. The increase in CPF contribution is allocated to the Medisave Account.

For employees aged above 50 to 55 years or above 55 to 65 years, the employer contribution rates are increased by 2 and 1.5 percentage points respectively. The increase in CPF contribution is allocated to the Medisave and Special Accounts.
 
(ii) Increase in Employee’s CPF Contribution Rates
  For employees aged above 50 to 55 years, the employee contribution rates are increased by 0.5 percentage point. For those earning wages of >$500 to <$750, the contribution rates continue to be phased-in. The increase in CPF contribution is allocated to the Ordinary Account.
 

The increase in the CPF contribution rates does not apply to graduated employer and employee rates for first or second year Singapore Permanent Residents (SPR) and their employers.

From 2015, the CPF Annual Limit is increased to $31,450. The Ordinary Wage Ceiling remains unchanged.

 
The CPF contribution and allocation rates from 1 January 2015 for the various types of employees are shown in Sections A and B.

 

SECTION A

For   (1) Private Sector Employees
       (2) Non-Pensionable Employees (Statutory Bodies & Aided Schools)
       (3) Non-Pensionable Employees (Ministries)

Note: For (1), (2) and (3), the Ordinary Wage Ceiling is $5,000.

Table A1

For (a) Singapore Citizen
(b) Singapore Permanent Resident (SPR) in the 3rd year and onwards of obtaining SPR status
(c) SPR in the 1st and 2nd year of obtaining SPR status but who has jointly applied with employer to contribute at full employer and employee rates

 

Employee's Age (Years)

Contribution Rate
(for monthly wages ≥ $750)

Credited to
Contribution by Employer
(% of
wage)
Contribution by Employee
(% of
wage)
Total Contribution
(% of wage)
Ordinary Account
(% of wage)
Special Account
(% of wage)
Medisave Account
(% of wage)
35 & below 17 20 37 23 6 8
Above 35-45 17 20 37 21 7 9
Above 45-50 17 20 37 19 8 10
Above 50-55 16 19 35 14

10.5

10.5
Above 55-60 12 13 25 12 2.5 10.5
Above 60-65 8.5 7.5 16 3.5 2 10.5
Above 65 7.5 5 12.5 1 1 10.5

Note:
 i. The CPF contribution rates for employees earning monthly wages of <$750 are     found in the CPF Contribution Rates Table.
 ii. To determine CPF allocation in terms of 'ratio of contribution' for all employees,     including those earning monthly wages of <$750 and SPRs, refer to the CPF      allocation rates expressed as ratios of contribution.

Table A2

For SPR in the 1st and 2nd year of obtaining SPR status

Employee 1st year SPR 2nd year SPR

Graduated Employer & Employee rates:

- Private Sector Employees; &
- Non-Pensionable Employees (Statutory Bodies & Aided Schools)
 
Graduated Employer & Employee (G/G) Contribution Rates Table for 1st year SPR Graduated Employer & Employee (G/G) Contribution Rates Table for 2nd year SPR

Full Employer & Graduated Employee rates:

- Non-Pensionable Employees (Ministries);
- Private Sector Employees who have jointly applied with employer to contribute at full employer rates; &
- Non-Pensionable Employees (Statutory Bodies & Aided Schools) who have jointly applied with employer to contribute at full employer rates.
Full Employer & Graduated Employee (F/G) Contribution Rates Table for 1st year SPR Full Employer & Graduated Employee (F/G) Contribution Rates Table for 2nd year SPR

 

SECTION B

For   (1) Pensionable Employees (Statutory Bodies) 
       (2) Pensionable Employees (Ministries)

Note: For (1) and (2), the Ordinary Wage Ceiling is $6,666.67.

Table B1

For   (a) Singapore Citizen
       (b) SPR in the 3rd year and onwards of obtaining SPR status
       (c) SPR in the 1st and 2nd year of obtaining SPR status but who has jointly
            applied with employer to contribute at full employer and employee rates

Employee's
Age (Years)

Contribution Rate
(for pensionable component only)

Credited to
Contribution by Employer
(% of
wage)
Contribution by Employee
(% of
wage)
Total Contribution
(% of wage)
Ordinary Account
(% of wage)
Special Account
(% of wage)
Medisave Account
(% of wage)
35 & below 12.75 15 27.75 17.25 4.5 6
Above 35-45 12.75 15 27.75 15.75 5.25 6.75
Above 45-50 12.75 15 27.75 14.25 6 7.5
Above 50-55 12 14.25 26.25 10.5 7.875 7.875
Above 55-60 9 9.75 18.75 9 1.875 7.875
Above 60-65 6.375 5.625 12 3 1.5 7.5
Above 65 5.625 3.75 9.375 0.75 0.75 7.875

Note:
 i. The CPF contribution rates for pensionable employees whose monthly wages     comprise both pensionable and non-pensionable components are found in the CPF      Contribution Rates Table.
 ii. To determine CPF allocation in terms of 'ratio of contribution' for pensionable     employees (pensionable component only), including SPRs, refer to the CPF      allocation rates expressed as ratios of contribution.

Table B2

For SPR in the 1st and 2nd year of obtaining SPR status

Employee 1st year SPR 2nd year SPR

Graduated Employer & Employee rates:

- Pensionable Employees (Statutory Bodies)
 
Graduated Employer & Employee (G/G) Contribution Rates Table for 1st year SPR Graduated Employer & Employee (G/G) Contribution Rates Table for 2nd year SPR

Full Employer & Graduated Employee rates:

- Pensionable Employees (Ministries); &
- Pensionable Employees (Statutory Bodies) who have jointly applied with employer to contribute at full employer rates.
Full Employer & Graduated Employee (F/G) Contribution Rates Table for 1st year SPR Full Employer & Graduated Employee (F/G) Contribution Rates Table for 2nd year SPR

 
 
The CPF contribution and allocation rates prior to 1 January 2015 are available at the links below:
 
 

If you have further enquiries on CPF contribution rates, please call CPF Call Centre at 1800-227-1188 or email to employer@cpf.gov.sg.

 

 Last Updated on: Wednesday, December 31, 2014 at 5:22 PM
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