18 Feb '12, 9am

Increase in CPF Contribution Rates for Older Workers

Lower CPF contribution rates for older workers were introduced to help improve the employability of older workers when seniority-based wage structures were prevalent. Since then, older workers have become more employable and progress has been made in reducing seniority-based wage rigidities. This positive trend is expected to continue. After consultation with its tripartite partners, the Government has reached a consensus to maintain in the long term the same CPF contribution rates for all workers up till age 55, rather than age 50.

Full article: http://thefinance.sg/2012/02/18/increase-in-cpf-contribut...

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