WATCH: The CPF contribution rates for those aged 55 to 65 will increase by a further 1.5 percentage points in 2025, announced DPM and Finance Minister Lawrence Wong in his #Budget2024 speech on Friday (Feb 16). He also announced an increase in the Enhanced Retirement Sum from next year. More details: https://cna.asia/budget2024 | CNA

The statutory retirement age and re-employment age will be increased to 63 and 68 respectively from 1 July 2022. The total CPF contribution rate will be increased by up to 2 percentage points for employees aged above 55 to 70 years. Minister for Manpower Tan See Leng announced this in Parliament on 1 November 2021. | gov.sg