The Singapore’s Central Provident Fund (CPF) Board increased CPF contribution rates from 1 January 2022.
What are the changes from 1 January 2022?
- The increase in the CPF contribution rates will be fully allocated to the employees’ Special Account to provide a bigger boost to their retirement income
- For those earning monthly wages of more than $500 to $750, the employee contribution rates will continue to be phased in
- There are no changes to the graduated contribution rates for first and second year Singapore Permanent Residents (SPRs)
- There are no changes to the Ordinary Wage (OW) Ceiling and Additional Wage Ceiling
What are the revised CPF contribution rates?
Who is eligible to apply for e-PaR?
- Private sector employers
- Related to Late Payment Charges for the month of July 2021 Contributions (June 2021 wages) and prior
- Ensure all outstanding matters are resolved
- Payment of monthly contributions up to contribution month July 2021 (June 2021 wages) are in order.
- Payment of dividend up to July are in order (if any).
- Late Payment Charges instalment plan are in order (if any).
- No legal action taken by EPF
CPF Contribution Rate:
https://www.cpf.gov.sg/content/dam/web/employer/employer-obligations/documents/CPFContributionRatesTable_1Jan2022.pdf
