Singapore – Central Provident Fund Ceiling Changes
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Effective from 1 September 2023, the Central Provident Fund Board has amended the additional income ceiling for monthly mandatory contributions.
CPF Ordinary Wage (OW) ceiling limits, the amount of OW that attract CPF contributions in a calendar month, has been increased from $6 000 to $6 300 per month.
Additional Wage ceiling has not been amended and is applicable at $102 000 of Annual Ordinary Wages.
The annual salary ceiling for combined Ordinary Wage (OW) and Additional Wage (AW) remains unchanged at $102 000.
The contribution rates remain unchanged.
Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change
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Singapore – Provident Fund contribution ceilings amended.
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