CPF Contributions

Employment

The Central Provident Fund is Singapore's compulsory savings scheme for Singapore Citizens and Permanent Residents who work. Each month both employee and employer put in a percentage of the employee's wages, up to a monthly wage ceiling. The employee's share is deducted from salary while the employer's share is paid on top. These savings go into your CPF accounts for retirement, housing and healthcare. Contribution rates depend mainly on age and citizenship status, and lower rates apply during a PR's first two years. Rates and ceilings are subject to the latest rules.

Related terms

AWS (13th Month Bonus)Retrenchment BenefitsNotice PeriodIR8AWork Pass (EP / S Pass)MOM (Ministry of Manpower)