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Category Archives for CPF

Last Few Days to Save Tax for Income Earned in 2017

There are a few government schemes / concessions in Singapore that can help you reduce your tax bill by offering tax reliefs. The more tax that you are pay, the more attractive these become. Some of the schemes are time sensitive and require you to make a contribution in 2017 (to save tax on your […]

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CPF Website Woes and Phishing Alert

I hated the previous CPF website. It was slow, the design was obsolete (>10 years) and the navigation sucks. It was also extremely difficult to find what you wanted. Recently, CPF revamped the website. The new site looks better although it does not seem to be optimized for mobile viewing. Unfortunately, something went awfully wrong […]

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CPF Advisory Panel’s Recommendations – Part 1

The CPF Advisory Panel has just released their recommendations on the changes to the CPF. A summary of the changes are as follows: Minimum Sum to be┬áRenamed With an Additional Level There will now be 3 levels, the Basic Retirement Sum (BRS), the Full Retirement Sum (FRS) and the Enhanced Retirement Sum (ERS). These are […]

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Increase in CPF Minimum Sum, Medisave Minimum Sum and Medisave Contribution Ceiling 2014

The CPF Minimum Sum has been increasing for each group of members turning 55 yearly, to reach a target of $120,000 (in 2003 dollars) by 2015. In order to maintain its real value over time, the Minimum Sum increases to account for inflation. CPF members who turn 55 between 1 July 2014 and 30 June […]

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CPF Contribution to be Increased

As announced in Budget 2014, the CPF contribution will be increased by 1% for everyone. The increased contribution will go to Medisave. While companies will be receiving some kind of temporary top-up to help cope with this increase, self-employed personnel will have to fund this increase by themselves. There will also be in additional increase […]

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