Singapore CPF Calculator - CPF Contribution Calculator
CPF Contribution Rates 2024
| Age Group | Employee | Employer | Total |
|---|---|---|---|
| 35 and below | 20% | 17% | 37% |
| Above 35 to 45 | 20% | 17% | 37% |
| Above 45 to 50 | 20% | 17% | 37% |
| Above 50 to 55 | 20% | 17% | 37% |
| Above 55 to 60 | 13% | 13% | 26% |
| Above 60 to 65 | 7.5% | 9% | 16.5% |
| Above 65 | 5% | 7.5% | 12.5% |
The Singapore CPF Calculator helps you calculate your Central Provident Fund contributions, account allocations, and retirement savings. This calculator uses the latest CPF rates and follows official CPF Board guidelines for accurate calculations.
How to Use the Singapore CPF Calculator
Calculate your CPF contributions with our easy-to-use calculator:
- Enter Monthly Salary - Input your gross monthly salary
- Select Your Age - CPF rates vary by age group
- Choose Employment Type - Employee or self-employed status
- Select Residency Status - Citizen, PR, or foreigner
- Calculate - Get instant CPF contribution breakdown
Understanding CPF Accounts
Ordinary Account (OA):
- Interest Rate: 2.5% per annum
- Uses: Housing, insurance, investment, education
- Withdrawal: Age 55 (subject to minimum sum)
Special Account (SA):
- Interest Rate: 4% per annum
- Uses: Retirement-related financial products, investment
- Withdrawal: Age 55 (subject to minimum sum)
Medisave Account (MA):
- Interest Rate: 4% per annum
- Uses: Hospitalization, medical insurance, approved medical expenses
- Withdrawal: Medical expenses only
CPF Contribution Rates by Age
Age-Based Rate Changes:
- 35 and below: Maximum contribution rates (37% total)
- 36-50: Gradual shift from OA to SA and MA
- 51-55: Increased focus on retirement and healthcare
- 56-60: Reduced rates as approaching retirement
- 61-65: Further reduced rates for senior workers
- Above 65: Minimum rates for continued employment
CPF Salary Ceiling and Floor
Important CPF contribution limits:
- Salary Ceiling: $6,000 per month (contributions capped)
- Salary Floor: $50 per month (minimum for contributions)
- Annual Ceiling: $72,000 per year
- Additional Wages: Separate ceiling of $102,000 annually
CPF Life and Retirement Planning
CPF LIFE (Lifelong Income For the Elderly):
- Standard Plan: Balanced payouts and bequest
- Basic Plan: Lower payouts, higher bequest
- Escalating Plan: Increasing payouts, lower initial bequest
Retirement Sum Scheme:
- Basic Retirement Sum (BRS): $96,000 (2024)
- Full Retirement Sum (FRS): $192,000 (2024)
- Enhanced Retirement Sum (ERS): $288,000 (2024)
CPF Investment Schemes
Grow your CPF savings through approved investments:
- CPFIS-OA: Invest OA funds in stocks, bonds, unit trusts
- CPFIS-SA: Invest SA funds in lower-risk instruments
- CPF Investment Account: Separate account for investments
- Risk Considerations: Potential for higher returns but also losses
- Minimum Sum Protection: Ensure sufficient funds for retirement
CPF Housing Schemes
Using CPF for Property:
- Public Housing Scheme: Use OA for HDB flats
- Residential Properties Scheme: Use OA for private property
- Withdrawal Limits: Up to Valuation Limit or purchase price
- Accrued Interest: Must be refunded upon sale
CPF Housing Grant:
- Enhanced CPF Housing Grant: Up to $80,000 for eligible first-timers
- Family Grant: Up to $40,000 for families
- Proximity Housing Grant: Up to $30,000 for living near parents
Voluntary Contributions
Boost your CPF savings with voluntary contributions:
- Cash Top-ups: Direct cash contributions to any account
- Tax Relief: Up to $37,740 annual tax relief
- Retirement Sum Top-up: Help parents/spouse meet retirement sum
- Medisave Top-up: Increase healthcare savings
- Contribution Limits: Subject to annual contribution caps
CPF for Foreigners
Work Permit and S Pass Holders:
- Generally not required to contribute to CPF
- Some exceptions for specific industries
- Employer may provide alternative benefits
Employment Pass Holders:
- Not required to contribute to CPF
- May opt for private retirement planning
- Consider SRS as alternative savings scheme
Related Calculators
Explore our other Singapore financial calculators:
- Singapore Retirement Calculator - Plan your retirement needs
- Singapore SRS Calculator - Calculate SRS tax benefits
- Singapore Salary Calculator - Calculate take-home pay
- Singapore Housing Loan Calculator - CPF housing calculations
- Singapore Investment Calculator - CPFIS investment planning
Frequently Asked Questions
What is the CPF contribution ceiling?
The monthly salary ceiling for CPF contributions is $6,000. Contributions are calculated only on salary up to this amount.
Can I withdraw my CPF before 55?
Generally no, except for specific schemes like housing, education, or investment under CPFIS. Medical expenses can be paid from Medisave.
How is CPF interest calculated?
OA earns 2.5% annually, while SA and MA earn 4% annually. Interest is compounded and credited quarterly.
What happens to my CPF if I leave Singapore permanently?
Citizens can withdraw CPF upon renouncing citizenship. PRs can withdraw after age 50 or when leaving Singapore permanently.
Can I use CPF for private property?
Yes, through the Residential Properties Scheme, but subject to withdrawal limits and conditions. Accrued interest must be refunded upon sale.
About Singapore's CPF System
The Central Provident Fund (CPF) is Singapore's comprehensive social security system, providing financial security for retirement, healthcare, and housing needs. Established in 1955, the CPF has evolved into a robust savings scheme that ensures Singaporeans can maintain their standard of living in retirement.
Our Singapore CPF Calculator helps you understand your contributions and plan for your financial future. The calculator uses official CPF Board rates and allocation formulas to provide accurate projections of your CPF savings growth.
For the most current CPF rates and policies, always refer to the official CPF Board website or consult with CPF customer service centers located throughout Singapore.