Compute Total CPF Contributions; Apply Contribution Rates: Multiply the Total Wages subject to CPF contributions by the contribution rates under which you fall. Employer and Employee Contributions: The total CPF contribution is divided between the employer and employee. Round Up: Round up the contribution amount to the nearest dollar.
Assuming the cap is $7,400, this means that the first $7,400 of your monthly salary is subject to CPF contributions. Any amount above that won’t have a portion deducted for CPF. It also means your employer doesn’t need to contribute to your CPF account for amounts above $6,800.
From age 60, your CPF contributions significantly drop from 32.5% to 23.5%, and from 2026, the contribution rate will be increased by 1.5 percentage points at 25% as announced in Budget 2025. Similarly, allocation to your OA sees a large drop from 12% to 3.5%.
This means that CPF contributions will only be calculated on a maximum salary of $102,000, regardless of an employee’s actual annual income exceeding that amount. Phased Increase in CPF Ordinary Wage Ceiling: The CPF Ordinary Wage (OW) ceiling, which limits the amount of wages subject to CPF contributions in a calendar month, will be ...
Estimate CPF Contribution. Calculate your CPF contribution using your monthly wages to get an estimate of the total amount that will be contributed. Estimate Employer’s CPF Contribution. Input your monthly salary to determine how much your employer contributes to your CPF account every month. Estimate Employee’s CPF Contribution. Find out ...
Read on for the latest updates on CPF contribution rates in Singapore, CPF interest rates, and a guide on how to calculate your contributions! Open main menu ... (up to the FRS) to earn long-term interest. Any excess is moved to the OA and can be withdrawn. The amount set aside determines your monthly payouts from age 65. There are three ...
CPF Retirement Account: The remaining amount goes into the CPF Special Account, which is primarily for retirement savings. CPF Contribution Limits: There are upper limits for CPF contributions based on the employee’s age and salary. Suggested Read: Payroll Software For Singapore How PeopleCentral Can Help You Stay Compliant with CPF
CPF Contribution Rate Table from 1 January 2026 for Singapore Citizens or Singapore Permanent Residents (3rd year onwards) Employee’s Age (Years) ... Compute the total CPF contribution (rounded to the nearest dollar), i.e., to be rounded down for an amount less than 50 cents and rounded up for an amount of 50 cents and above. 2) Compute the ...
As of 1 January 2025, the CPF monthly contribution ceiling has increased from $6,800 to $7,400. This change is part of a gradual adjustment announced in the 2023 Singapore Budget, where it was stated that the CPF Ordinary Wage (OW) ceiling—the amount of monthly wages that attract CPF contributions—will rise from $6,000 to $8,000 by 1 January 2026.
CPF Contribution Ceiling: There exists a ceiling on the wage of monthly salary that can attract CPF contributions. That amount will remain effective from 2024 at $6,000 . If your salary is above $6,000 in a month, it follows that your contributions under CPF are calculated based on $6,000, not your actual salary.
Important notes. This calculator has been updated to include rates applicable from January 2025. This calculator takes into account the CPF allocation changes arising from the closure of Special Account for members aged 55 and above.; If you are an employer using CPF EZPay to submit and pay CPF contributions, you do not have to use this tool. CPF EZPay auto-computes employee CPF contributions ...
When you’re younger, more of your CPF contributions are allocated to your Ordinary Account (OA) to support your home purchase. As you grow older, more CPF contributions are allocated to your Special Account (SA) or Retirement Account (RA) and MediSave Account (MA) to meet growing retirement and healthcare needs respectively.
The CPF Annual Limit is the maximum amount of mandatory and voluntary contributions to all three CPF Accounts that a CPF member can receive in a calendar year
Your monthly payout amount depends on the amount of savings in your Retirement Account (RA) at the point you start your payouts. Under CPF LIFE, you can receive up to $3,300 per month for life. You can use the Retirement Payout Planner to estimate how much you need every month to support the retirement lifestyle you want and project your CPF ...
Defined Contribution Plans 2025 2024 Change; Maximum employee elective deferral (age 49 or younger) (1) $23,500: $23,000 +$500: Employee catch-up contribution (age 50 or older by year-end) (2)
By inputting your existing balance and withdrawal amount, you’ll see how it affects your long-term savings and future benefits. ... Optimize CPF Contributions. With a CPF calculator, you can optimize your contributions for maximum benefits. By experimenting with different contribution rates, you can find the balance that best suits your ...
From 1 January 2025, the total CPF contribution rate for senior workers aged above 55 to 65 increases by 1.5%. Employers contribute 0.5% more while the employee’s share goes up by 1%. Contribution rates for senior workers will continue to step up in 2026 by another 1.5% to strengthen retirement security for senior workers 3. Impact on retirement:
Use our CPF contribution calculator to calculate the amount of CPF contributions you should receive from your employer. Was this article helpful? Help us improve . CPF Board. Business partners; ... You may use our online CPF contribution calculator to compute the amount of CPF payable and its allocation to your various CPF accounts. article ...
