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HomebusinessinvestCPF boost for middle-income workers with rise in salary ceiling for contributions

CPF boost for middle-income workers with rise in salary ceiling for contributions

SINGAPORE – Middle-income workers will see more money flowing into their Central Provident Fund (CPF) accounts from September, thanks to the gradual increase in the contribution ceiling unveiled in the Budget earlier in 2023.

As part of moves to boost retirement adequacy, the salary ceiling for CPF contributions is rising from $6,000 to $8,000 by Jan 1, 2026.

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