}

27 January 2022

With effect from 1 January 2022, the contribution rates to the Central Provident Fund (“CPF”) for employees aged above 55 to 70 have been increased to strengthen their retirement adequacy.

Following amendments to the First Schedule to the Central Provident Fund Act 1953, the changes below will apply to wages earned from 1 January 2022 (for employees earning monthly wages of more than S$750).

Employees’ age (years)

Previous
(% of wage)

CPF contribution rates changes
from 1 January 2022

Total
(% of wage)

By employer
(% of wage)

By employee
(% of wage)

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

Source: Central Provident Fund Board website

The contribution rates for Singapore Citizens and Singapore Permanent Residents (from third year and onwards) from 1 January 2022 are set out below.

Employee’s age (years)

CPF contribution rates changes from 1 January 2022(monthly wages > $750)

Total
(% of wage)

By employer
(% of wage)

By employee
(% of wage)

55 & below

37

17

20

Above 55 to 60

28

14

14

Above 60 to 65

18.5

10

8.5

Above 65 to 70

14

8

6

Above 70

12.5

7.5

5

Source: Central Provident Fund Board website

Reference materials

The following materials are available on the CPF website www.cpf.gov.sg: