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| CPF (Central Provident Fund) All about OA, SA, MA and RA, and strategies to optimize your CPF |
Topic Review (Newest First)
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| 31-01-2021 05:13 PM | |
| Salary.sg |
CPF Limits Ordinary Wage Ceiling - currently $6k a month. This is the maximum amount of your monthly income that will attract CPF contributions. Even if you make $10k a month, only $6k of it is subject to CPF contributions (from both employer and employee). Additional Wage Ceiling - currently $102k a year. This is the maximum amount of additional wage that attracts CPF contributions per year. If you make $10k basic monthly and receive a $100k bonus at year end, only $30k of the bonus will be subject to CPF contributions (because 102 – 6×12 = 30). Compare your CPF balances with an imaginary employee who is lucky enough to be earning above the contribution cap his whole life and also receiving $30k bonuses every single year: https://www.salary.sg/2020/compare-y...unt-see-chart/ CPF Annual Limit - currently $37,740 a year. This is the maximum CPF contributions (from both employee and employer) that one can get per year. If the mandatory contributions exceed this limit, it means you can't make any further voluntary contribution. |
