The Central Provident Fund (CPF) is an employment-based scheme that serves as a compulsory savings plan for Singaporeans and Permanent Residents (PR). CPF contributions are made by both employers and employees at varying rates, depending on the employee’s age and salary.
The Central Provident Fund (CPF) is a key pillar of Singapore’s social security system. CPF helps Singapore Citizens and Permanent Residents set aside funds to build a strong foundation for retirement.
CPF is a comprehensive savings system.
As you work and make CPF contributions, you accumulate savings in 3 accounts:
At age 55, a Retirement Account (RA) is created for you, where you receive monthly retirement payouts.
Use this CPF calculator to compute the CPF contributions payable for private sector and non-pensionable government employees.
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What is a CPF calculator?
Instructions for using the CPF calculator
Enter your age, salary, bonus and commission – the calculator will do the rest!
What is payroll outsourcing?
Payroll outsourcing is the practice of delegating your company’s payroll management to an external service provider. This includes processing monthly payrolls, managing tax deductions, ensuring compliance with local statutory requirements, and handling other payroll-related tasks.
What services should a payroll services company offer?
A reputable payroll services company in Singapore should offer:
Plan starts from $3 per employee, per month