Senior worker CPF rates
My employee is 58. CPF rates?
The situation
Lower CPF rates apply to employees above 55, with bands by age.
The law
- Sec 7, Central Provident Fund Act 1953: Employers pay CPF for Singapore Citizen and PR employees monthly
What it means for you
Rates for older workers have been increasing in steps. Use the CPF table for the current year. Rates for workers above 55 have been raised in steps. Check the current table for each age band.
What to do
- Check age band.
- Use table.
- Compute.
- Pay.
We can do this for youMonthly CPF and SDL contributions: SGD 150