The Central Provident Fund (CPF) is Singapore’s compulsory savings scheme, with contributions made by both employers and employees. CPF forms a key pillar of Singapore’s social security system, supporting citizens in retirement, housing, and healthcare.
The government also boosts CPF savings through schemes like Workfare for lower-wage workers and MediSave top-ups for seniors.
If you are a working Singaporean, you and your employer contribute monthly to your CPF. Contributions are allocated into three accounts:
| Ordinary Account | Primarily for retirement and housing needs. |
|---|---|
| Special Account | Primarily for retirement needs. |
| MediSave Account | Primarily for healthcare needs. |
Who Should Receive CPF Contributions
CPF contributions are payable for:
- Singapore Citizens (SCs) and Singapore Permanent Residents (SPRs) working in Singapore under a contract of service.
- Employees engaged on a permanent, part-time, or casual basis.
- Singapore Citizens employed under a contract of service or agreement in Singapore as a master, seaman, or apprentice on a vessel.
Key note: CPF contributions are not required for SCs or SPRs working overseas.
Employers must make CPF contributions for all eligible SCs and SPRs earning more than $50 in total wages per month.
⮕ Who should receive CPF contributions (CPF Board)
Who Is Exempted from CPF Contributions
CPF contributions are not payable for:
- Foreign employees.
- Students who meet CPF exemption criteria.
- Domestic employees.
- Employees of the United Nations (UN).
- Seamen who meet exemption criteria.
Skills Development Levy (SDL)
Apart from CPF contributions, employers must also pay the Skills Development Levy (SDL) for all employees working in Singapore. The SDL is a compulsory levy used to fund workforce upgrading programs, and it is payable in addition to in addition to CPF contributions.
CPF contributions
The table below provides an overview of the current CPF contribution rates for Singaporeans and Singapore Permanent Residents (SPRs) from their third year of SPR status onwards, grouped by age.
Payments That Attract CPF Contributions
CPF is payable on the following types of wages:
- Basic salary
- Overtime pay
- Bonuses
- Allowances
- Commissions
- Cash incentives
Payments Not Considered Wages (CPF not payable):
- Termination benefits
- Reimbursements
- Benefits-in-kind
⮕ What payments attract CPF contributions
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