WebFeb 14, 2024 · The CPF monthly salary ceiling caps the quantum of ordinary wages that would attract CPF contributions, and is currently set at $6,000. The increase was announced by Deputy Prime Minister and Finance Minister Lawrence Wong in his Budget 2024 statement on Tuesday. WebFeb 14, 2024 · The CPF monthly salary ceiling will be increased in stages from September 2024. The increase will be phased in over four years starting in September this year. Mr Wong said the move was to “keep pace with rising salaries” and would help middle-income Singaporeans save more for their retirement.
CPF monthly salary ceiling to be raised from S$6K to S$8K by 2026
WebFeb 14, 2024 · The CPF monthly salary (i.e. Ordinary Wage) ceiling will be gradually raised from $6,000 to $8,000 by 2026 for all employees. The increase will take place in four steps, as shown in the Table below, to allow employers and employees to adjust to the … WebThe CPF monthly salary ceiling sets the maximum amount of CPF contributions payable for ordinary wages. The last time CPF salary ceilings were raised was in 2016. From … meet math facts division 1
CPFB Budget 2024: CPF monthly salary ceiling to be raised to …
WebFeb 14, 2024 · The CPF monthly salary ceiling defines the quantum of ordinary wages that would attract CPF contributions. Adding that the last time CPF salary ceilings were … WebSINGAPORE - The Central Provident Fund (CPF) monthly salary ceiling will be raised in stages to $8,000 by 2026 so that it keeps pace with rising salaries and helps middle-income Singaporeans save more for their retirement. The CPF monthly salary ceiling caps the quantum of ordinary wages that would attract CPF ... WebHigh-income earners receiving large bonuses will also not be affected, with the CPF annual salary ceiling remaining at S$102,000, said MoneyOwl’s solutions lead Daphne Lye. PhillipCapital’s financial services manager Elijah Lee agreed, noting that the announcement marks a shift in focus from savings based on ad-hoc bonuses to regular salaries. name of zeus lightning bolt