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Old 22-10-2015, 05:17 PM
lazyplane lazyplane is offline
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You are referring to income earned.

You forget that individual can do self top up of 7k to SA.

Add that in and plus interest...equals BIG FAT POT OF GOLD.


Quote:
Originally Posted by Unregistered View Post
In the current policy, the maximum anyone can contribution to his CPF each year is $31,450. This amount includes the employer's portion.

The maximum amount of salary that attracts CPF deduction/contribution is $85,000. So even if your annual salary plus bonus exceeds $85,000 the CPF deduction/contribution is based on $85,000.

Consider two persons A & B same age below 50.
Say Person A earns $60K pa and his bonus is $25k giving a total of $85,000 he will contribute $31,450 to his CPF

Person B earns $200k pa inclusive bonus, he will also only contribute $31,450 to his CPF.

If you earn less than $85k pa, you are allowed to top up your CPF to $31,450 per year.
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