CPF Contribution and Allocation Rates
(From 1 January 1999 to 31 March 2000)
The tables below show the CPF contribution rates by both employers and employees, and how the total CPF contributions are apportioned and credited to your 3 CPF accounts.
Private sector and Public sector (Non-pensionable) from 1 January 1999
Employee Age (years) Contribution By Employer (% of wage) Contribution By Employee (% of wage) Total Contribution (% of wage) Credited to Ordinary Account % Special Account % Medisave Account % 35 and below 10 20 30 24 0 6 Above 35 - 45 10 20 30 23 0 7 Above 45 - 55 10 20 30 22 0 8 Above 55 - 60 4 12.5 16.5 8.5 0 8 Above 60 - 65* 2 7.5 9.5 1.5 0 8 Above 65* 2 5 7 0 0 7
*The government has previously announced that the employers' share of the CPF contribution for those above 60 years would be reduced to 4% on 1 January 1999 when the retirement age is raised from 60 to 62. With the 10% point CPF cut, the employer's contribution rate for this group of members will be further reduced to 2%.
Private sector (CoWEC)** from 1 January 1999
Employee Age (years) Contribution By Employer (% of wage) Contribution By Employee (% of wage) Total Contribution (% of wage) Credited to Ordinary Account % Special Account % Medisave Account % 35 and below 10 20 30 24 0 6 Above 35 - 45 10 20 30 23 0 7 Above 45 - 55 10 20 30 22 0 8 Above 55 - 60 4 12.5 16.5 8.5 0 8 Above 60 - 65 2 5 7 0 0 7 Above 65 2 5 7 0 0 7
**From 1 January 1999, there will be no more new contributions to the CoWEC Fund.
Public sector (Pensionable) from 1 January 1999
Employee Age (years) Contribution By Employer (% of wage) Contribution By Employee (% of wage) Total Contribution (% of wage) Credited to Ordinary Account % Special Account % Medisave Account % 35 and below 7.5 15 22.5 18 0 4.5 Above 35 - 45 7.5 15 22.5 17.25 0 5.25 Above 45 - 55 7.5 15 22.5 16.5 0 6 Above 55 - 60 3 9.375 12.375 6.375 0 6 Above 60 - 65 1.5 5.625 7.125 1.125 0 6 Above 65 1.5 3.75 5.25 0 0 5.25
Private Sector and Public Sector (Non-Pensionable) Employees who are Permanent Residents (Rates Effective from 1 January 1999)
Year of Acquiring PR Status Age of Employee 55 years and below Above 55 to 60 years Above 60 to 65 years Above 65 years Contribution By Employer (% of wage) Contribution By Employee (% of wage) (1) (2) (3) (4) (5) (6) (7) (8) First Year 2.5% 5% 2.5% 5% 2% 5% 2% 5% Second Year 7.5% 15% 4% 12.5% 2% 7.5% 2% 5% Third Year onwards 10% 20% 4% 12.5% 2% 7.5% 2% 5%
Note: The rate or contribution payable by the employer is shown in columns (1), (3), (5) and (7), while columns (2), (4), (6) and (8) indicate contributions by the employee.
Public Sector (Pensionable) Employees who are Permanent Residents (Rates Effective from 1 January 1999)
Year of Acquiring PR Status Age of Employee 55 years and below Above 55 to 60 years Above 60 to 65 years Above 65 years Contribution By Employer (% of wage) Contribution By Employee (% of wage)             (1) (2) (3) (4) (5) (6) (7) (8) First Year 1.875% 3.75% 1.875% 3.75% 1.5% 3.75% 1.5% 3.75% Second Year 5.625% 11.25% 3% 9.375% 1.5% 5.625% 1.5% 3.75% Third Year onwards 7.5% 15% 3% 9.375% 1.5% 5.625% 1.5% 3.75%
Note: The rate or contribution payable by the employer is shown in columns (1), (3), (5) and (7), while columns (2), (4), (6) and (8) indicate contributions by the employee.