{"id":531,"date":"2024-05-03T12:25:57","date_gmt":"2024-05-03T04:25:57","guid":{"rendered":"https:\/\/advbiz.com.sg\/?p=531"},"modified":"2024-05-03T12:41:59","modified_gmt":"2024-05-03T04:41:59","slug":"cpf-contribution-changes-from-1-january-2025","status":"publish","type":"post","link":"https:\/\/advbiz.com.sg\/index.php\/2024\/05\/03\/cpf-contribution-changes-from-1-january-2025\/","title":{"rendered":"CPF contribution changes from 1 January 2025"},"content":{"rendered":"\n<p class=\"has-heading-color has-text-color\">Increasing the CPF Ordinary Wage ceiling is a notable move to ensure that the CPF contributions align with the prevailing wage levels, thereby aiding in retirement savings.<\/p>\n\n\n\n<p class=\"has-heading-color has-text-color\">This adjustment should benefit both employees and employers, as it reflects the evolving economic landscape and helps individuals secure their financial future.<\/p>\n\n\n\n<p class=\"has-heading-color has-text-color\"><strong>Increase in the CPF Ordinary Wage ceiling<\/strong><strong><\/strong><\/p>\n\n\n\n<p class=\"has-heading-color has-text-color\">To keep up with rising wages, the CPF Ordinary Wage ceiling (OW) for all employees will be raised to $7,400 in 2025 and will reach $8,000 by 2026.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"545\" height=\"218\" src=\"https:\/\/advbiz.com.sg\/wp-content\/uploads\/2024\/05\/12303052024.png\" alt=\"\" class=\"wp-image-539\" srcset=\"https:\/\/advbiz.com.sg\/wp-content\/uploads\/2024\/05\/12303052024.png 545w, https:\/\/advbiz.com.sg\/wp-content\/uploads\/2024\/05\/12303052024-300x120.png 300w\" sizes=\"(max-width: 545px) 100vw, 545px\" \/><\/figure>\n\n\n\n<p class=\"has-heading-color has-text-color\">\uff08Source: CPF\uff09<\/p>\n\n\n\n<p class=\"has-heading-color has-text-color\"><strong>Increase in CPF contribution rates for senior workers<\/strong><strong><\/strong><\/p>\n\n\n\n<p class=\"has-heading-color has-text-color\">To continue strengthening retirement adequacy of senior workers, the CPF contribution rates for senior workers aged above 55 to 65 will be increased from 1 January 2025.<\/p>\n\n\n\n<p class=\"has-heading-color has-text-color\">For employees earning monthly wages &gt; $750<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"548\" height=\"222\" src=\"https:\/\/advbiz.com.sg\/wp-content\/uploads\/2024\/05\/12313052024.png\" alt=\"\" class=\"wp-image-540\" srcset=\"https:\/\/advbiz.com.sg\/wp-content\/uploads\/2024\/05\/12313052024.png 548w, https:\/\/advbiz.com.sg\/wp-content\/uploads\/2024\/05\/12313052024-300x122.png 300w\" sizes=\"(max-width: 548px) 100vw, 548px\" \/><\/figure>\n\n\n\n<p class=\"has-heading-color has-text-color\">\uff08Source: CPF\uff09<\/p>\n\n\n\n<p class=\"has-heading-color has-text-color\">The revised CPF contribution rates and OW ceiling will be automatically applied.&nbsp;However, if the&nbsp;submission of&nbsp;CPF contributions through other submission modes (i.e. CPF EZPay Mobile and CPF EZPay File Transfer Protocol), the CPF contributions need to be&nbsp;computed based on the revised rates and ceiling.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Increasing the CPF Ordinary Wage ceiling is a notable move to ensure that the CPF contributions align with the prevailing wage levels, thereby aiding in retirement savings. This adjustment should benefit both employees and employers, as it reflects the evolving economic landscape and helps individuals secure their financial future. Increase in the CPF Ordinary Wage [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/posts\/531"}],"collection":[{"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/comments?post=531"}],"version-history":[{"count":8,"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/posts\/531\/revisions"}],"predecessor-version":[{"id":548,"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/posts\/531\/revisions\/548"}],"wp:attachment":[{"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/media?parent=531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/categories?post=531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/advbiz.com.sg\/index.php\/wp-json\/wp\/v2\/tags?post=531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}