Question 1

How does the CPF system work in Singapore?

Accepted Answer

The Central Provident Fund (CPF) is Singapore's mandatory social security savings scheme. For employees aged 55 and below, the employee contributes 20% and the employer 17% of ordinary wages (capped at SGD 6,800/month). Contributions are allocated across three accounts: Ordinary Account (for housing, education, investment), Special Account (for retirement), and Medisave (for healthcare). Rates decrease progressively for employees above 55.

Question 2

Is income tax withheld from payslips in Singapore?

Accepted Answer

No, Singapore does not use a PAYE (Pay As You Earn) withholding system for citizens and permanent residents. Employees file individual tax returns and pay income tax directly to IRAS (Inland Revenue Authority of Singapore) annually. However, employers must submit employee earnings information via the Auto-Inclusion Scheme (AIS) by March 1st each year. Foreign employees on work passes may have taxes cleared through the employer upon cessation.

Question 3

What are the self-help group contributions on a Singaporean payslip?

Accepted Answer

Singapore has ethnic-based self-help groups funded through voluntary monthly contributions deducted from wages: CDAC (Chinese Development Assistance Council), MBMF (Majlis Ugama Islam Singapura / Mosque Building and Mendaki Fund), SINDA (Singapore Indian Development Association), and ECF (Eurasian Community Fund). Contribution amounts range from SGD 0.50 to SGD 5+ per month based on income. Employees can opt out.

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