Cpf Rate Changes In 2024. Budget 2024 came with some changes to cpf rules, and this will affect how singaporeans take it into account to plan and save for retirement. It will go up to s$7,400 from 1 st january 2025 and s$8,000 from 1 st january 2026.
Cpf members aged 55 and above. In early 2025, members will be notified after the transfer of all their sa savings to their ra and/or oa, and closure of their sa.
To Continue Strengthening The Retirement Adequacy Of Senior Workers, The Employer And Employee.
Cpf members aged 55 and above can receive estimated monthly payouts of up to s$3,330.
The Changes In Cpf Contribution Rates For Singapore Citizens And Singapore Permanent Residents (From Third Year And Onwards) Took Effect From 1 January 2024.
Cpf changes for senior workers include special account closure, higher enhanced retirement sum;
Increase In Cpf Contribution Rates For Senior Workers.
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In Early 2025, Members Will Be Notified After The Transfer Of All Their Sa Savings To Their Ra And/Or Oa, And Closure Of Their Sa.
Previously capped at s$6,000, this ceiling will rise incrementally to s$8,000 by 2026.
Story By Esther Au Yong.
From 1 st january 2024, the cpf monthly salary ceiling has been raised to ss$6,800.