Personal Finance
Increase in CPF Contribution Rates for Older Workers
By Create Wealth Through Long-Term Investing and Short-Term Trading  •  February 18, 2012
Lower CPF contribution rates for older workers were introduced to help improve the employability of older workers when seniority-based wage structures were prevalent. Since then, older workers have become more employable and progress has been made in reducing seniority-based wage rigidities. This positive trend is expected to continue. After consultation with its tripartite partners, the Government has reached a consensus to maintain in the long term the same CPF contribution rates for all workers up till age 55, rather than age 50. The changes to CPF contribution rates for older workers will be introduced gradually to moderate the cost impact on employers and to take into account the subdued global economic outlook in the near term. The following increases as shown in the table below will be introduced as a first step with effect from 1 Sep 2012. Increase in CPF older worker contribution rate
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By Create Wealth Through Long-Term Investing and Short-Term Trading
I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016. Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD. I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild. I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038. Cheers!
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