Personal Finance
CPF Monthly Salary Ceiling To Increase
By My Sweet Retirement  •  February 25, 2023
In the recent FY2023 Budget, Deputy Prime Minister and Minister for Finance Lawrence Wong announced that the CPF monthly salary ceiling to increase from the current S$6,000 to S$8,000 by the year 2026. If you are worry about the sudden increase, you will be glad to know that the increase will take place in four steps to allow you and your employer to adjust to the changes.
The first increase will take place from 1st September 2023, which is this year. There will be no change in the CPF annual salary ceiling of S$102,000. CPF Salary Ceiling Here are more details of the increase in CPF Salary Ceiling.
Date Monthly Annual
Current S$6,000 S$102,000
1st September 2023 S$6,300
1st January 2024 S$6,800
1st January 2025 S$7,400
1st January 2026 S$8,000
For those that are currently earning less than S$6,000 monthly, this change most likely will not be significant to you.
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By My Sweet Retirement
I am a working salaried professional in my mid 30s. Just like most Singaporeans, I worked long office working hours, often trying very hard to find some work life balance. The Sweet Retirement Blog was created to share my journey towards achieving a comfortable retirement life. I believe we cannot simply rely solely on our Central Provident Fund savings when reaching old age. Neither can we rely solely on our bank savings as we all know the interest rates cannot beat inflation.

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