Changes from 1 January 2022
(a) For wages earned from 1 January 2022, the CPF contribution rates for employees aged above 55 to 70 will be increased to strengthen their retirement adequacy.
(b) 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.
(c) For those earning monthly wages of more than $500 to $750, the employee contribution rates will continue to be phased in.
(d) There are no changes to the graduated contribution rates for first and second year Singapore Permanent Residents (SPRs).
(e) There are no changes to the Ordinary Wage (OW) Ceiling and Additional Wage Ceiling.
Summary
| Increase in CPF Contribution Rates from 1 January 2022 (for employees^ aged above 55 to 70) | |||
| Employee's age (years) | CPF Contribution Rates from 1 January 2022 NEW (monthly wages >$750) | ||
| Total (% of wage) | By Employer (% of wage) | By Employee (% of wage) | |
| 55 & below | 37 | 17 | 20 |
| Above 55 to 60 | 28 (+2) | 14 (+1) | 14 (+1) |
| Above 60 to 65 | 18.5 (+2) | 10 (+1) | 8.5 (+1) |
| Above 65 to 70 | 14 (+1.5) | 8 (+0.5) | 6 (+1) |
| Above 70 | 12.5 | 7.5 | 5 |
^ denotes Singapore Citizens and SPRs (from third year and onwards)
Source: CPF Board
