Singapore Expats

I received Singapore PR last November and understand that CPF contributions increase each year. Does the year start from the date you acquire PR or the date you start working as a PR?

I just now have a job offer so I technically did not work in Singapore for my first year of PR. Does that mean my CPF contribution will automatically be at 9% and 15% instead of 4% and 5%?

I originally thought it was after working for a year but I noticed the wording on the table on the CPF website says "Year of Acquiring PR Status".

I just want to know if I need to worry about my take home pay being 10% less than originally expected.

Thanks!

The graduated rates start when you acquire PR. So if you did not work for the first 12 months then the rates will start at the 2nd year rates. Following the month of your 2nd Anniversary you will contribute at the full rate.

sms

Thanks for the info. I guess I should be happy I am at least getting a higher employer contribution. I just gotta redo my budget calculations with 10% less take home pay.

Even your CPF rate starts higher(15% for 2nd year for employee), u might not contribute full 15%. It depends on your gross monthly salary. If I am not mistaken, the monthly salary(for CPF calculation) is capped at $4500. Following is the official CPF info, in case u have not seen it.

http://mycpf.cpf.gov.sg/Members/Calcula ... lators.htm

MinSG wrote:Even your CPF rate starts higher(15% for 2nd year for employee), u might not contribute full 15%. It depends on your gross monthly salary. If I am not mistaken, the monthly salary(for CPF calculation) is capped at $4500. Following is the official CPF info, in case u have not seen it.

http://mycpf.cpf.gov.sg/Members/Calcula ... lators.htm

Correct, you only pay CPF contributions on the first $4500 per month.

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