SUMMARY OF CPF CHANGES
1.	Table 1: Long-Term Target CPF Contribution Rates
2.	Table 2: CPF Contribution Rates for Workers Aged 50 and Below
3.	Table 3: CPF Contribution Rates for Workers Aged Above 50 to 55
4.	Table 4: Special Account Target Contribution Rates
5.	Table 5: Medisave Account Target Contribution Rates
6.	Table 6: CPF Salary Ceiling

7.	Table 7: CPF Minimum Sum (in 2003's dollars)
8.	Table 8: Medisave Minimum Sum to be Topped Up Before CPF Withdrawal at Age 55 (in 2003's dollars)
9.	Table 9: Withdrawal of OA and SA Balances at Age 55
10.	CPF Contribution Rates By Employer and Employee and Allocation to the Ordinary, Special and Medisave Accounts
1.	Table 1: Long-Term Target CPF Contribution Rates
	Age Total Employee Employer 50 and Below 30 – 36 % 20% 10 – 16 % Above 50 to 55 24 – 30 % 18% 6 – 12 % Above 55 to 60 18.5% 12.5% 6% Above 60 to 65 11% 7.5% 3.5% Above 65 8.5% 5% 3.5%

2.	Table 2: CPF Contribution Rates for Workers Aged 50 and Below
	Date Total Employee Employer 1 Oct 2003 33% 20% 13%
3.	Table 3: CPF Contribution Rates for Workers Aged Above 50 to 55
	Date Total Employee Employer 1 Oct 2003 33% 20% 13% 1 Jan 2005 30% 19% 11% 1 Jan 2006 27% 18% 9%
	NB: No change in contribution rates for workers above age 55.
4.	Table 4: Special Account Target Contribution Rates
	35 and Below Above 35 to 45 Above 45 to 55 Old * 5% 7% 9% New 5% 6% 7%
	NB: * Existing contribution rates are 4%, 6%, 6% for respective age groups. Government had accepted ERC recommendation to change to target rates of 5%, 7%, 9%.
5.	Table 5: Medisave Account Target Contribution Rates
	35 and Below Above 35 to 45 Above 45 to 55 Old * 7% 8% 9% New 6% 7% 8%
	NB: * Existing contribution rates are 6%, 7%, 8% for respective age groups. Government had accepted ERC recommendation to change to target rates of 7%, 8%, 9%.
6.	Table 6: CPF Salary Ceiling
	1 Jan 2004 $5,500 1 Jan 2005 $5,000 1 Jan 2006 $4,500
7.	Table 7: CPF Minimum Sum (in 2003’s dollars)
	Current  $80,000 1 Jul 2004 $84,000 1 Jul 2005 $88,000 1 Jul 2006 $92,000 1 Jul 2007 $96,000 1 Jul 2008 $100,000 1 Jul 2009 $104,000 1 Jul 2010 $108,000 1 Jul 2011 $112,000 1 Jul 2012 $116,000 1 Jul 2013 $120,000
	As CPF Minimum Sum is raised, amount of monthly payout will be adjusted so that Minimum Sum can last about 18 years for most members.
8.	Table 8: Medisave Minimum Sum to be Topped Up Before CPF Withdrawal at Age 55 (in 2003's dollars)
	Current  $0 1 Jan 2004 $2,500 1 Jan 2005 $5,000 1 Jan 2006 $7,500 1 Jan 2007 $10,000 1 Jan 2008 $12,500 1 Jan 2009 $15,000 1 Jan 2010 $17,500 1 Jan 2011 $20,000 1 Jan 2012 $22,500 1 Jan 2013 $25,000
9.	Table 9: Withdrawal of OA and SA Balances at Age 55
	Until 31 Dec 2008 50% (unchanged)  1 Jan 2009  40%  1 Jan 2010 30% 1 Jan 2011 20% 1 Jan 2012 10% From 1 Jan 2013 0%     1. From 1 Jan 2013, CPF members must meet the CPF and Medisave Minimum Sums requirements before withdrawing their remaining Ordinary and Special Accounts balances.     2. All CPF members can continue to withdraw the first $5,000 in their CPF accounts, even if they have not met the Minimum Sums requirements.
10.	CPF Contribution Rates By Employer and Employee and Allocation to the Ordinary, Special and Medisave Accounts
	Contribution by Total Allocation into CPF Employer Employee Ordinary Account Special Account Medisave Account For workers 35 years and below From 1 Oct 2003 13% 20% 33% 22% 5% 6% From 1 Jan 2005 13% 20% 33% 22% 5% 6% From 1 Jan 2006 13% 20% 33% 22% 5% 6% For workers above 35-45 years From 1 Oct 2003 13% 20% 33% 20% 6% 7% From 1 Jan 2005 13% 20% 33% 20% 6% 7% From 1 Jan 2006 13% 20% 33% 20% 6% 7% For workers above 45-50 years From 1 Oct 2003 13% 20% 33% 18% 7% 8% From 1 Jan 2005 13% 20% 33% 18% 7% 8% From 1 Jan 2006 13% 20% 33% 18% 7% 8% For workers above 50-55 years From 1 Oct 2003 13% 20% 33% 18% 7% 8% From 1 Jan 2005 11% 19% 30% 15% 7% 8% From 1 Jan 2006 9% 18% 27% 12% 7% 8%
	(Note: No change in contribution rates for workers above 55 years of age)