The Singapore Budget 2015 was announced this afternoon and there are much things talked about but I find the CPF ceiling bumped up to be interesting. Singapore middle income are getting richer but they are getting squeeze so one of the move is to increase the CPF ceiling from $5,000 to $6,000. The CPF Ceiling to put it simply affects your employer’s contribution to your CPF. If you earn $10,000 per month, under the existing 5k ceiling, only the first 5k your employers need to contribute the 17% to your CPF, the second $5k they do not have to pay it. This would also mean that the second $5k you do not need to contribute your 20% CPF employee contribution. With the bump up to $6k, that would mean employers need to contribute more for the additional $1000 per month now. Higher middle income earners would have slightly less take ......