Increase in CPF contribution rates from 1 January 2022

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?

CPF Contribution Rate: 
https://www.cpf.gov.sg/content/dam/web/employer/employer-obligations/documents/CPFContributionRatesTable_1Jan2022.pdf

Source from:
https://www.cpf.gov.sg/employer/infohub/news/cpf-related-announcements/increase-in-cpf-contribution-rates-from-1-january-2022

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