Skip to main content

CPF Contribution Rates for new Singapore Permanent Residents (SPR’s)

Recently my wife and I applied and got approved for Singapore Permanent Residency. After completing the formalities the most significant immediate change is the contribution to CPF which is Singapore’s mandatory social security savings scheme requiring contributions from employers and employees. CPF contributions start from the date you obtain SPR status, which is the date of the entry permit.  

Being a relentless budgeter I needed to know exactly how much I and my employer would have to contribute so that I could adjust my budget accordingly as the employee contributions get deducted from the monthly salary.

After doing some research I discovered that there is a “graduated” approach to CPF contributions for new SPR’s where the contributions gradually increase in the first and second year and then upon reaching the third year are at the full amount.

Note: There is an option for employers to contribute the full amount for year 1 and year 2 and the employee can use the graduated rate, but obviously this has to be negotiated with your employer and good luck trying to win that one.

Now whilst it’s true that the contributions rates are a percentage (37%) of your salary the key factor here is that it is capped at a maximum salary. For example if you earn 10k a month, your contribution is calculated on the first $6k of ordinary income.

The CPF website is quite overwhelming with information, but after playing with the CPF calculators for a while I was able to clarify exactly what the contributions were year by year. 

Monthly CPF Contributions

  Year 1 Year 2 Year 3+
Employee

$300

$900

$1200

Employer

$240

$540

$1020

Total

$540

$1440

$2220

Note: Assumes salary > 6k and age < 55 and only applies to Ordinary Wages.

References

Contribution Calculator for 1st and 2nd year SPR’s

Contribution Calculator for 3rd year SPR’s

Comments

  1. very helpfull blog it was a pleasure reading your blog
    would love to read it more
    knowldege is not found but earned through hardwork and good teaching
    that being said click here to join us the next best thing in bangalore
    devops online training
    Devops Training in Bangalore

    ReplyDelete
  2. 2. Best Digital Marketing company Anantapur
    Comment: helpful information, thanks for writing and share this information

    ReplyDelete
  3. This article is an appealing wealth of informative data that is interesting and well-written. I commend your hard work on this and thank you for this information. You’ve got what it takes to get attention.
    Digital Media Marketing Company

    ReplyDelete
  4. I feel really happy to have seen your webpage and look forward to so many more entertaining times reading here. Thanks once more for all the details.

    java training in chennai

    java training in bangalore

    java online training

    java training in pune

    ReplyDelete
  5. I have to voice my passion for your kindness giving support to those people that should have guidance on this important matter.

    python training in chennai

    python training in bangalore

    python online training

    python training in pune

    ReplyDelete
  6. The knowledge of technology you have been sharing thorough this post is very much helpful to develop new idea. here by i also want to share this.
    Python training in usa
    Python training in marathahalli
    Python training in pune

    ReplyDelete
  7. Great post! I am actually getting ready to across this information, It’s very helpful for this blog.Also great with all of the valuable information you have Keep up the good work you are doing well.
    DevOps online Training
    DevOps Training in USA

    ReplyDelete
  8. I am so proud of you and your efforts and work make me realize that anything can be done with patience and sincerity. Well I am here to say that your work has inspired me without a doubt.
    angularjs Training in chennai
    angularjs Training in chennai

    angularjs-Training in tambaram

    angularjs-Training in sholinganallur

    angularjs-Training in velachery

    ReplyDelete
  9. UiPath Training in Bangalore by myTectra is one the best UiPath Training. myTectra is the market leader in providing Robotic Process Automation on UiPath
    ui path training in bangalore

    ReplyDelete

  10. Greetings. I know this is somewhat off-topic, but I was wondering if you knew where I could get a captcha plugin for my comment form? I’m using the same blog platform like yours, and I’m having difficulty finding one? Thanks a lot.

    AWS Training in Bangalore | Amazon Web Services Training in Bangalore

    Amazon Web Services Training in Pune | Best AWS Training in Pune

    AWS Online Training | Online AWS Certification Course - Gangboard

    ReplyDelete
  11. Great post! I am actually getting ready to across this information, It’s very helpful for this blog.Also great with all of the valuable information you have Keep up the good work you are doing well.
    Best Training and Real Time Support

    Sap Pm Training From India

    Sap Mm Training From India

    ReplyDelete
  12. Wonderful article, very useful and well explanation. Your post is extremely incredible. I will refer this to my candidates...

    Blueprism training in Pune

    Blueprism training in Chennai

    ReplyDelete
  13. Great post! I am actually getting ready to across this information, It’s very helpful for this blog.Also great with all of the valuable information you have Keep up the good work you are doing well.
    Business Analysis Training
    Checkpoint Firewall Training
    Cognos Training
    DataScience Training
    DataStage Training
    Dell boomi Training

    ReplyDelete
  14. Does your blog have a contact page? I’m having problems locating it but, I’d like to shoot you an email. I’ve got some recommendations for your blog you might be interested in hearing.
    AWS Training in Chennai |Best Amazon Web Services Training in Chennai
    AWS Training in Rajaji Nagar | Amazon Web Services Training in Rajaji Nagar

    Best AWS Training Institute in BTM Layout Bangalore ,AWS Coursesin BTM

    ReplyDelete

Post a Comment

Popular posts from this blog

Freeing Disk Space on C:\ Windows Server 2008

I just spent the last little while trying to clear space on our servers in order to install .NET 4.5. Decided to post so my future self can find the information when I next have to do this. I performed all the usual tasks: Deleting any files/folders from C:\windows\temp and C:\Users\%UserName%\AppData\Local\TempDelete all EventViewer logs Save to another Disk if you want to keep themRemove any unused programs, e.g. FirefoxRemove anything in C:\inetpub\logsRemove any file/folders C:\Windows\System32\LogFilesRemove any file/folders from C:\Users\%UserName%\DownloadsRemove any file/folders able to be removed from C:\Users\%UserName%\DesktopRemove any file/folders able to be removed from C:\Users\%UserName%\My DocumentsStop Windows Update service and remove all files/folders from C:\Windows\SoftwareDistributionDeleting an Event Logs Run COMPCLN.exe Move the Virtual Memory file to another disk However this wasn’t enough & I found the most space was cleared by using the Disk Cleanup to…

Implementing Custom Castle Windsor Facilities

If you’ve been following my posts you would know that I love Castle Windsor. One of the many useful features I have found is the Facility and I’m going to try and give a good example how you can make use of this. In a recent post I showed how you can add Cross-Cutting concerns to your application by using Interceptors.Now when configuring the Container you can explicitly configure each Interceptor per Service but when you have lot’s of components it can get pretty hard to maintain after a while and can also introduce subtle issues if someone forgets to configure it correctly.Below is how you would configure your Container without using a Facility. On the last line we are specifying the Interceptor explicitly. public void Configure() { container = new WindsorContainer(); container.Register( Component.For<CacheInterceptor>(), Component.For<ICacheProvider>() .ImplementedBy<WebCache…