Sunday, May 2, 2010

0.5% in Sept 2010, 0.5% in Mar 2011, BUT ...

It was announced that CPF contribution rates will be up from 14.5% to 15.5% from March 2011 onwards. The first 0.5% increase will be implemented on 1 September 2010 this year, and will be paid into the Medisave Account; the remaining 0.5% increase will be effective later on 1 March 2011, and will be paid into the Special Account. You can refer to the details here.

Seen it yet? Yup... Nothing into the CPF Ordinary account. This increase is solely targeted for medical and retirement needs. Doesn't affect me in any way but for those who speculated about the 1% increase in CPF, I think they'll find that they bet on the wrong horse.

It'll be an interesting Monday. :)

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