During the presentation of Singapore's 2023 budget, the Deputy Prime Minister, Lawrence Wong, announced that the OW ceiling for CPF would be raised from SGD6,000 to SGD8,000 by 2026. The additional wage ceiling will increase CPF contributions, increasing allocation rates for certain age groups...
I first started working here at age 24, earning well under the CPF wage ceiling — the whopping 20% employee contribution was a key factor in my not pursuing PR. If I could have used it to pay for housing, that would have been different. But I was unmarried and didn’t have the ...
The formula for Additional Wage Ceiling:$102,000 – Ordinary Wages, which is subject to CPF for that year. Example: Addie earns = $7,500/month,Annual Bonus = $15,000How the Calculation works:Ordinary Wage: The first $6,000 of the monthly income will be subject to CPF contribution....
During the presentation of Singapore's 2023 budget, the Deputy Prime Minister, Lawrence Wong, announced that the OW ceiling for CPF would be raised from SGD6,000 to SGD8,000 by 2026. The additional wage ceiling will increase CPF contributions, increasing allocation rates for certain age groups...