CPF Calculator
CPF Calculator , I created this calculator based on the latest data 2019 gather from CPF Singapore Official Website here
CPF Calculator
CPF means (Central Provident Fund Board). Is a retirement fund for Singaporean & Singapore Permanent Resident manage by the government. Every month employer & employee are required to contribute certain percentage of their salary fixed by CPF board into ones CPF Account. For more details check out CPF official websites.
Note: This Calculator should only serve as a reference , Check out the official government website for the latest update.
Note: The CPF Calculator is only applicable to non pensionable Singapore Citizen and Singapore Permanent Resident working in Private Sector. For Permanent Resident only for those 3rd year onwards.
Your Salary Components ( For Private Non Pensionable Employee <Singaporean and Permanent Resident Only>
Below I will Explain about the Salary component for Private Non Pensionable Employee applicable to Singaporean and Singapore Permanent Resident only.
- Base Salary ->This is the Salary paid for your Labor Monthly stated in your Employment Contract (Paid to Employee)
- CPF contributions are payable on overtime pay given to employees.
- CPF Contribution By Employee -> A Percentage of the Employee (Base Salary + Additional Income < If ANy> ) will be deduct on Monthly basis . The Deducted sum will be contributed to the Employee CPF Account mange by the CPF board. ( The Exact Percentage deduction are determined by Citizen Ship , Income Level & Age Group)
- CPF Contribution By Employer -> The Employer in addition , will contribute an additional Percentage Amount base on the Employee Base Salary to the Employee CPF Account manage by CPF board .( the Actual Percentage contribute by the Employer are determined by CitizenShip , Income Level & Age Group)
- Skill Development Levied -> Under the Skill Development Levy Act . For every Employee in the Company a fee is imposed to the Employer on monthly basis. The Amount of Fee is determined by the Employee Salary Level.Gather fund will be managed by WDA
- Mandatory Donation -> All Employee are required to contribute mandatory donation on Monthly basis , base on his or her ethnic group. Amount Contribution is determined by the Employee Income level and which organization the Employee contribute.
CDAC -> Chinese Development Assistance Council (CDAC) non-profit self-help group for the Chinese community.
SINDA-> Singapore Indian Development Association (SINDA) non-profit self-help group for the Indian community.
ECF-> Eurasian Community Fund Raising (ECF) non-profit self-help group for the Eurasian community.
MBMF -> Muslim Building Mendaki Fund ( MBMF) non-profit self-help group for the Muslim community.
Skill Development Levied (SDL)
Starting From Oct 2008 , Employer are required to contribute SDL for Every Single Employee .
The Contribution details are as below
| No | Salary Range | Levy Imposed |
|---|---|---|
| 1 | S$1-S$800 | S$2 |
| 2 | S$800 – S$4,500 | Salary x 0.25% |
| 3 | Above S$4,500 | S$11.25 |
CDAC Contribution Rate
| No | Salary Range | Donation Rate |
|---|---|---|
| 1 | ≤ S$2,000 | S$0.50 |
| 2 | > S$2,000 to S$3,500 | S$1.00 |
| 3 | > S$3,500 to S$5,000 | S$1.50 |
| 4 | > S$5,000 to S$7,500 | S$2.00 |
| 5 | > More Than S$7,500 | S$3.00 |
SINDA Contribution Rate
| No | Salary Range | Donation Rate |
|---|---|---|
| 1 | ≤ S$1,000 | S$1.00 |
| 2 | > S$1,000 to S$1,500 | S$3.00 |
| 3 | > S$1,500 to S$2,500 | S$5.00 |
| 4 | > S$2,500 to S$4,500 | S$7.00 |
| 5 | > S$4,500 to S$7,500 | S$9.00 |
| 6 | > S$7,500 to S$10,000 | S$12.00 |
| 7 | > S$10,000 to S$15,000 | S$18.00 |
| 8 | >S$15,000 | S$30.00 |
ECF Contribution Rate
| No | Salary Range | Donation Rate |
|---|---|---|
| 1 | ≤ S$1,000 | S$2.00 |
| 2 | > S$1,000 to S$1,500 | S$4.00 |
| 3 | > S$1,500 to S$2,500 | S$6.00 |
| 4 | > S$2,500 to S$4,000 | S$9.00 |
| 5 | > S$4,000 to S$7,000 | S$12.00 |
| 6 | > S$7,000 to S$10,000 | S$16.00 |
| 7 | >S$10,000 | S$20.00 |
MBMF Contribution Rate
| No | Salary Range | Donation Rate |
|---|---|---|
| 1 | ≤ S$1,000 | S$3.00 |
| 2 | > S$1,000 to S$2,000 | S$4.50 |
| 3 | > S$2,000 to S$3,000 | S$6.50 |
| 4 | > S$3,000 to S$4,000 | S$15.00 |
| 5 | > S$4,000 to S$6,000 | S$19.50 |
| 6 | > S$7,000 to S$8,000 | S$22.00 |
| 7 | > S$8,000 to S$10,000 | S$24.00 |
| 8 | >S$10,000 | S$26.00 |
Graduated vs Full Employer Contribution
1) Graduated in Layman term means Partial Contribution of Employer CPF.
2) Full in Layman term means Full Contribution of Employer CPF.
This is applicable to resident who just obtain PR in their First and Second Year. From Third Year onward ,full Employee and Employer CPF contribution are imposed.
When a Foreign Employee obtain his or her PR during 1st and 2nd Year, CPF Contribution from Company is mandatory under legislation.Companies are able to choose either to contribute Partially ( Graduated) or Full .
But by default Graduated is chose in the System . If the Employer have decided to Contribute more CPF to his or her Employee. The Employer should notified CPF board.
Graduated vs Full Employer Contribution Stack Up Chart.
Graduated and Full Employee or Employer contribution , are determined by the Employee salary level and age category
There are a Few Age Category
- Below 55
- Above 55 to 60
- Above 60 to 65
- Above 65
Salary Level category:
- Less than $50
- More than $50 to $ 500
- More than $500 to $750
- More than $750
The Maximum monthly Salary which required CPF Contribution for both Employee and Emloyer are capped at S$6000
Majority of us falls under the age category of below 55 and Salary Level more than S$750
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How much CPF contributions and allocation rates change as we grow older
As we grow older the Employee percentage of Contribution decreases. This Apply as well to the Employer Contribution.
Check out the Chart below ( Only applicable for Singaporean , or PR 3rd Year onward age 55 & below earning a Monthly Income more than $750 .
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CPF Allocation Rate as we grow older
As we grow older more Portion of our CPF contribution will be allocated to our Medisave Account.
Check out the Chart below ( Only applicable for Singaporean , or PR 3rd Year onward earning a Monthly Income more than $750 .
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CPF Interest Rate
The Interest Rate for Ordinary , Special , MediSave Account are reviewed quarterly by CPF board
I will not explained in this Article, as by the time you read this Article, the Interest Rate might be changed
Check out CPF Official Website for further information
CPF Historical Interest Rate Chart
The Chart below, are compounded referring to Interest rate of every year last quarter.
Note :The Chart does not Include any extra Interest rate or Retirement Account Interest Rate
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CPF Historical Minimum Sum Chart
What is Minimum Sum?
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MediSave Minimum Sum Historical Chart
What is MediSave Minimum Sum?
MediSave Minimum Sum (MMS) are the Amount of money CPF member required to set aside when turning 55, for
hospitalisation expenses in subsidised Class B2 and C wards,
subsidised outpatient treatment for selected chronic conditions.
What is MediSave Contribution Ceiling?
The maximum account balance a member may have in his or her Medisave Account
What is Basic Healthcare Sum?
From 1 January 2016, CPF Remove MediSave Minimum Sum and rename MediSave Contribution Ceiling to Basic Healthcare Sum.
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Check out CPF Withdrawal Calculator Here
Check out Debt Repayment Calculator Here