From September 2012, the CPF contribution rates for older employees aged above 50 to 65 years has been increased. This is in line with the Singapore government’s objective to make sure its citizens have enough retirement savings to see them through the golden years.
If you have older employees on your payroll, do make sure to contribute using the correct rates from September 2012 onward.
Consult your accountant to know more about this.
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