The increase in employee contribution rates will be allocated to the Ordinary Account.1 "Net trade income" refers to gross trade income minus all allowable business expenses, capital allowances andtrade losses as determined by the Inland Revenue Authority of Singapore (IRAS). It excludes income ...
Note: Addy contributes only 20% of his gross salary; the amount added to his account exceeds 20%. That’s because his employer has to make an additional contribution equal to 17% of his gross wage. For CPF contribution, the employee is deemed to be 55 years, 60 years, or 65 years ...