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CPF Voluntary Contribution Limit

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Old 17-06-2022, 02:25 PM
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Default CPF Voluntary Contribution Limit

If you want to make voluntary contributions to your CPF accounts, there’s an Annual Limit of $37,740 that you need to be aware of.

If you’re self-employed, it’s quite unlikely for you to hit that limit unless you are already making voluntary contributions regularly.

But if you hold a full time job and make more than $6k a month, there’s a good chance that you may have already exceeded the limit, which takes into account both compulsory and voluntary contributions.

Suppose you are below 55 years of age and make $10k a month and receive a $40k bonus. These are the compulsory contributions to your CPF:

Only 6k every month is subject to CPF (wage ceiling).
Of the 40k bonus, only 30k is subject to CPF (additional wage ceiling calculation: 102k - 12x6k = 30k).

12 months x $6k x 37% = $26,640
$30k x 37% = $11,100
Total is $37,740!

This means there’s no room for you to top up your CPF further with voluntary contributions.

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