What is CPF?
The Central Provident Fund (CPF) is Singapore's mandatory social security savings scheme. Both employees and employers contribute a percentage of the employee's monthly wages to the CPF account. The funds are divided across three accounts: the Ordinary Account (OA) for housing, education, and investment; the Special Account (SA) for retirement savings; and the MediSave Account (MA) for healthcare expenses. From age 55, a Retirement Account (RA) is created.
CPF contributions are compulsory for Singapore Citizens and Permanent Residents (SPRs) employed in Singapore. The contribution rates vary by age group and residency status, with higher rates applying to younger workers. Contribution rates are calculated on Ordinary Wages (OW) up to the monthly ceiling of S$6,800 (from 1 September 2023) and on Additional Wages up to an annual ceiling.
How to Use the CPF Calculator
- Enter your Monthly Gross Salary in SGD.
- Select your Age Group — contribution rates decrease with age.
- Select your Residency Status — SPR 1st and 2nd year employees have reduced rates to ease the transition.
- Results show Employee CPF, Employer CPF, Total CPF, and your Take-Home Pay instantly.
Why Use Our CPF Calculator?
- 2024 Rates — Updated with the latest CPF contribution rates and the S$6,800 OW ceiling.
- All Age Groups & Residency — Covers all CPF rate tiers including SPR 1st and 2nd year.
- Instant Results — See all four figures update in real time.
- 100% Free — No registration, no cost.
Frequently Asked Questions
CPF (Central Provident Fund) is Singapore's mandatory retirement savings scheme. Both employees and employers must make monthly contributions for all Singapore Citizens and Permanent Residents working in Singapore. Self-employed individuals contribute only to MediSave. Foreigners and Employment Pass holders are not covered by CPF.
For Singapore Citizens below 55: Employee 20%, Employer 17% (Total 37%). Ages 55–60: Employee 15%, Employer 15% (30%). Ages 60–65: Employee 9.5%, Employer 11.5% (21%). Ages 65–70: Employee 7%, Employer 9% (16%). Above 70: Employee 5%, Employer 7.5% (12.5%). SPR 1st year: Employee 5%, Employer 4%. SPR 2nd year: Employee 15%, Employer 9%.
From 1 September 2023, the Ordinary Wage (OW) ceiling is S$6,800 per month. This means CPF contributions are only calculated on up to S$6,800 of your monthly salary. Any salary above S$6,800 does not attract CPF on the Ordinary Wage portion. There is also an Annual Wage Supplement (AWS) ceiling for Additional Wages. The OW ceiling will increase to S$7,400 in 2025 and S$8,000 in 2026 as part of a phased increase.
CPF contributions are split across three accounts. The Ordinary Account (OA) earns at least 2.5% p.a. and can be used for housing (HDB flat purchase, mortgage payments), approved investments, and education. The Special Account (SA) earns at least 4% p.a. and is for retirement savings and approved investments. The MediSave Account (MA) earns at least 4% p.a. and is used for healthcare expenses, hospitalisation, and approved medical insurance premiums. At age 55, a Retirement Account (RA) is created by transferring savings from SA and OA to meet the Full Retirement Sum.