Personal Finance
CPF Changes in 2023 That You Must Take Note Of
By Heartland Boy  •  July 2, 2023
Photo credit: Kelly Sikkema/Unsplash There are quite a few changes happening to the CPF system in 2023 and I know you will be equally curious to know what they are. That is because CPF affects all Singaporeans and Permanent Residents and is therefore, a topic close to the heart of plenty of us here. Some of these changes are a result of policy changes announced during Budget 2023, while some are due to periodic reviews and updates announced during the later part of the year. Not to worry, I have summarised the key changes so that you can just refer to this article going forward. Without further ado, let’s find out the CPF changes in 2023 and why you must take note of them.

1) INCREASE IN CPF ORDINARY WAGE CEILING

During Budget 2023, it was announced that the CPF Ordinary Wage (‘OW’) ceiling will be raised from $6,000 to $8,000 by 2026. For readers who are not aware, the CPF OW Ceiling limits the...
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By Heartland Boy
Heartland Boy is a young working adult who pretends to be competent in the real estate industry despite graduating with only a Business Management degree. Outside of work, he analyses stocks, reits and property for investment to build passive income. He is also a stickler for all things that represent value-for-money.
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