The CPF monthly salary ceiling will be raised gradually from 1 September 2023. Read on to find out how this will affect your CPF contributions. What happened? You may have heard that the Central Provident Fund (CPF) monthly salary ceiling will be increased from 1 September 2023. This was previously announced by Deputy Prime Minister and Finance Minister Lawrence Wong when he delivered his Budget 2023 statement. Source: Ministry of Finance Currently, the CPF monthly salary ceiling is capped at S$6,000. This means that if your salary is above S$6,000 per month, you will not be required to make CPF contributions on the portion of your monthly salary above S$6,000. This ceiling is now set to be raised in various stages starting from 2023 to 2026. From 1 September 2023, the CPF monthly salary ceiling will be raised from S$6,000 to S$6,300. The CPF monthly salary ceiling will be further raised to S$6,800 from 1 January 2024, and progressively to S$8,000 in 2026....