From 1 January 2015, the CPF contribution rates are increased to help employees save more for retirement and healthcare needs. The new contribution rates apply to wages earned from 1 January 2015.

(i)    Increase in Employer’s CPF Contribution Rates
For employees aged 50 years and below or above 65 years, the employer contribution rates are increased by 1 percentage point. The increase in CPF contribution is allocated to the Medisave Account.

For employees aged above 50 to 55 years or above 55 to 65 years, the employer contribution rates are increased by 2 and 1.5 percentage points respectively. The increase in CPF contribution is allocated to the Medisave and Special Accounts.
 
(ii)    Increase in Employee’s CPF Contribution Rates
For employees aged above 50 to 55 years, the employee contribution rates are increased by 0.5 percentage point. For those earning wages of >$500 to <$750, the contribution rates continue to be phased-in. The increase in CPF contribution is allocated to the Ordinary Account.
 
The increase in the CPF contribution rates does not apply to graduated employer and employee rates for first or second year Singapore Permanent Residents (SPR) and their employers.

From 2015, the CPF Annual Limit is increased to $31,450. The Ordinary Wage Ceiling remains unchanged.

Source: CPF Board