Hike in CPF rates for senior workers delayed to help tame business costs

Singapore

IN WHAT is described as a demonstration that it has left no stone unturned in seeking ways to help businesses manage costs in the current crisis, the government has said it will delay the planned increase in Central Provident Fund (CPF) contribution rates for senior workers for one year.

The contribution hikes, with employers and employees each increasing their contribution by 0.5, 1.5 or 2.0 perc…

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