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How are CPF contribution rates applied when a platform worker moves to the next age group?
The contribution rates of your platform worker moving to the next age group shall be applied from the first day of the month after the month of his 35th, 45th, 50th, 60th, 65th and 70th birthday.
For example, for a platform worker whose 50th birthday falls in May, he is deemed to have 50 years of age in May, and we will use the contribution rate for the “Above 45-50” age group for May. As contribution rates are applicable on a monthly basis, you will apply the contribution rate for the “Above 50-55” age group from June.
This information is sourced from CPF.
Related questions
Which CPF contribution rate should be applied when my employee enters the next age group (i.e. reaches 55, 60, 65 or 70)?
What is the increase in platform workers’ share of CPF Ordinary and Special or Retirement Account contribution rates, which is used to compute Platform Workers CPF Transition Support (PCTS)?
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